Regulation T
(24) Regulation T means Regulation T promulgated by the Board of Governors of the Federal Reserve System, 12 CFR part 220, as amended from time to time. (25) Regulation T collateral value, with respect to a security, means the current market value of the security reduced by the percentage of required margin for a position in the security held in a margin account under Regulation T. (26) Related position, with respect to a security future, means any position in an account that is combined with the security future to create an offsetting position as provided in 242.403(b)(2) of this Regulation ( 242.400 through 242.406). (27) Related transaction, with respect to a position or transaction in a security future, means: (i) Any transaction that creates, eliminates, increases or reduces an offsetting position involving a security future and a related position, as provided in 242.403(b)(2) of this Regulation ( 242.400 through 242.406); or (ii) Any deposit or withdrawal of margin for the security future or a related position, except as provided in 242.405(b) of this Regulation ( 242.400 through 242.406). (28) Securities account shall have the meaning provided in 240.15c3-3(a) of this chapter. (29) Security futures intermediary means any creditor as defined in Regulation T with respect to its financial relations with any person involving security futures. (30) Self-regulatory authority means a national securities exchange registered under section 6 of the Act (15 U.S.C. 78f), a national securities association registered under section 15A of the Act (15 U.S.C. 78o-3), a contract market registered under Section 5 of the CEA (7 U.S.C. 7) or Section 5f of the CEA (7 U.S.C. 7b-1), or a derivatives transaction execution facility registered under Section 5a of the CEA (7 U.S.C. 7a). (31) Special margin requirement shall have the meaning provided in 242.404(e)(1)(ii) of this Regulation ( 242.400 through 242.406). (32) Variation settlement means any credit or debit to a customer account, made on a daily or intraday basis, for the purpose of marking to market a security future or any other contract that is: (i) Issued by a clearing agency that is registered under section 17A of the Act (15 U.S.C. 78q-1) or cleared and guaranteed by a derivatives clearing organization that is registered under Section 5b of the CEA (7 U.S.C. 7a-1); and (ii) Traded on or subject to the rules of a self-regulatory authority.