The NYSE and NASD have imposed rules to limit small investor day trading. Customers that these organizations classify as Pattern Day Traders are subject to special Day Trading Restrictions for US securities.
The following table shows bonds margin requirements for initial (at the time of trade), and maintenance (when holding positions). For detailed information on IB's calculation methodology and where to find margin requirement information in the TWS, see our IB Margin Overview page.
The following formulas make use of the function Maximum (x, y, ..). The Maximum function returns the greatest value of all parameters separated by commas within the parenthesis. As an example, Maximum (500, 2000, 1500) would return the value 2000. Note also that Margin requirements quoted in US dollars may also be satisfied with a Non-US Dollar equivalent.
|Bond Type||Initial and Maintenance Margin requirements||Currency|
|US T-bills||3% * Bills Market Value||USD|
|German T-bills||3% * Bills Market Value||EUR|
|Bond Type||Initial and Maintenance Margin requirements||Currency||Investment Grade||10% * Bond Market Value||USD|
|Listed Bonds and Other Marginable Bonds||Maximum (20% * Bond Market Value, 7% * Bond Principal Amount)||USD|
|Non-Marginable Bonds||100% * Bond Market Value||USD|