Series 99: 1.2.2.7.4 Opening A Margin Account

Taken from our Series 99 Top-off Online Guide

1.2.2.7.4 Opening a Margin Account

When a customer opens a margin account, she must sign a margin agreement. The agreement has three parts:

1. Hypothecation agreement. A contract between the broker-dealer and the customer, whereby the broker-dealer agrees to provide a loan and the customer allows his securities to be used as collateral against the loan. This agreement also allows the broker-dealer to sell the securities if the account falls below the minimum maintenance requ

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