Initial Margin means the amount of cash or securities deposited with a broker as a margin payment at the time of purchase or sale of a futures contract.
Retail margin means an amount, reflecting differences in
Step Up Margin means the rate per annum specified in the applicable Final Terms; and
CD Margin means a rate per annum determined in accordance with the Pricing Schedule.
Free Margin means the amount of funds available in the Client Account, which may be used to open a position or maintain an Open Position. Free Margin shall be calculated as: Equity less (minus) Necessary Margin [Free margin = Equity- Necessary Margin].