initial margin
- (1) (in COLL and CIS) cash or other property deposited in accordance with the rules of a derivatives market.
- (2) (in COB) the amount which under the rules of the relevant exchange or clearing house the firm or an intermediate broker would be required to deposit in cash as a fidelity deposit in respect of all the client's open positions in margined transactions at that time, irrespective of any unrealised profit or loss on such positions, on the assumption that those transactions were the only transactions undertaken under the rules of that exchange or that clearing house by the firm or the intermediate broker at that time.
- (3) (in LLD) (in relation to a derivative contract or quasi-derivative contract) assets which, before or at the time the contract is entered into, are transferred subject to a condition that the assets (or where the assets transferred are securities, equivalent securities) will be returned on completion of that contract.524