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[IB] [Opinion] Compte cash vs compte Reg T Margin

par fanfan » 21 Jan 2015 17:44

Hello les andlilers et andlileuses,
Tout d'abord bonne année à tous.
Disposant actuellement que de comptes cash chez IB, je commence à me sentir limité par rapport à l'attente des 3 jours de "settlement" pour pouvoir initier d'autres achats. N'étant pas un adepte du day trading, j'avais opté initialement pour un compte cash tout simple.
Je me renseigne maintenant pour avoir un compte qui puisse me rendre disponible tout de suite mon cash en "atttente". Apparemment, il y a un "IRA margin account" mais ce n'est que pour les américains. Il faut donc se rabattre sur le classique "Reg T Margin" mais j'ai dû mal à comprendre comment il fonctionne. Si quelqu'un pouvait me donner un lien vers un message du forum ou un tutoriel assez basique afin de comprendre cela je lui serais très reconnaissant ! :top:

Re: [IB] [Opinion] Compte cash vs compte Reg T Margin

par Benoist Rousseau » 21 Jan 2015 17:54

il te faut juste avoir 25.000$ / 25.000€ en permanence sur ton compte pour être en Reg T Margin, c'est ce qu'applique IB

Re: [IB] [Opinion] Compte cash vs compte Reg T Margin

par brucy » 21 Jan 2015 22:01

Comme l'a dis benoist c'est tres simple
, effectivement un IRA exige une green card :)

Si tu es flagged daytrader ,
il te faut 25k en permanence , ca veux dire que les benefices non realises doivent egalement garantir ta solvabilitee.
(donc il faut beaucoup plus que 25k pour travailler avec un drawdown raisonable, evidemment)

D'apres les regulations T margin , tu peux emprunter au maximummum 50% du prix total de ton trade , l'autre moitiee (cash) etant l'initial margin.

la maintenance margin exige aussi que 25% de la valeure totale de tes investissements soient disponible en cash , a n'importe quel moment.

Re: [IB] [Opinion] Compte cash vs compte Reg T Margin

par artes88 » 22 Jan 2015 09:04

voici le texte original :
Regulation T (Reg T)
What Does Regulation T (Reg T) Mean?
The Federal Reserve Board regulation that governs customer cash accounts and the amount of credit that brokerage firms and dealers can extend to customers for the purchase of securities on margin.
Investopedia explains Regulation T (Reg T)
According to Regulation T, a person may borrow up to 50% of the initial purchase price of a marginable security; this is known as buying on margin. Reg T refers to the initial margin requirement. After the purchase, the margin account must meet minimum maintenance requirements.
Related Terms:
• Margin
• Maintenance Margin
• Margin Account
• Minimum Margin
• Nonmarginable Security
Investopedia's Guide To Wall Speak, Edited by Jack Guinan. Copyright © 2009 by Investopedia®. Used with permission of The McGraw-Hill Companies, Inc.

et le lien correspondant : http://financial-dictionary.thefreedictionary.com/Regulation+T

un margin account commence à partir d'un dépôt initial de 2000$

Re: [IB] [Opinion] Compte cash vs compte Reg T Margin

par ManiakTrader » 26 Aoû 2017 13:05

Determining Buying Power
Buying power serves as a measurement of the dollar value of securities that one may purchase in a securities account without depositing additional funds. In the case of a cash account where, by definition, securities may not be purchased using funds borrowed from the broker and must be paid for in full, buying power is equal to the amount of settled cash on hand. Here, for example, an account holding $10,000 in cash may purchase up to $10,000 in stock.

In a margin account, buying power is increased through the use of leverage provided by the broker using cash as well as the value of stocks already held in the account as collateral. The amount of leverage depends upon whether the account is approved for Reg. T margin or Portfolio Margin. Here, a Reg. T account holding $10,000 in cash may purchase and hold overnight $20,000 in securities as Reg. T imposes an initial margin requirement of 50%, which translates to buying power of 2:1 (i.e., 1/.50). Similarly, a Reg. T account holding $10,000 in cash may purchase and hold on an intra-day basis $40,000 in securities given IB’s default intra-day maintenance margin requirement of 25%, which translates to buying power of 4:1 (i.e., 1/.25).

In the case of a Portfolio Margin account, greater leverage is available although, as the name suggests, the amount is highly dependent upon the make-up of the portfolio. Here, the requirement on individual stocks (initial = maintenance) generally ranges from 15% - 30%, translating to buying power of between 6.67 – 3.33:1. As the margin rate under this methodology can change daily as it considers risk factors such as the observed volatility of each stock and concentration, portfolios comprised of low-volatility stocks and which are diversified in nature tend to receive the most favorable margin treatment (e.g., higher buying power).

In addition to the cash examples above, buying power may be provided to securities held in the margin account, with the leverage dependent upon the loan value of the securities and the amount of funds, if any, borrowed to purchase them. Take, for example, an account which holds $10,000 in securities which are fully paid (i.e., no margin loan). Using the Reg. T initial margin requirement of 50%, these securities would have a loan value of $5,000 (= $10,000 * (1 - .50)) which, using that same initial requirement providing buying power of 2:1, could be applied to purchase and hold overnight an additional $10,000 of securities. Similarly, an account holding $10,000 in securities and a $1,000 margin loan (i.e., net liquidating equity of $9,000), has a remaining equity loan value of $4,000 which could be applied to purchase and hold overnight an additional $8,000 of securities. The same principals would hold true in a Portfolio Margin account, albeit with a potentially different level of buying power.

Finally, while the concept of buying power applies to the purchase of assets such as stocks, bonds, funds and forex, it does not translate in the same manner to derivatives. Most securities derivatives (e.g., short options and single stock futures) are not assets but rather contingent liabilities and long options, while an asset, are short-term in nature, considered a wasting asset and therefore generally have no loan value. The margin requirement on short options, therefore, is not based upon a percentage of the option premium value, but rather determined on the underlying stock as if the option were assigned (under Reg. T) or by estimating the cost to repurchase the option given adverse market changes (under Portfolio Margining).

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