When the "Order Preview" for a futures order uses a “Net Liquidation Value” for the order’s credit check that refers to the Net Liquidation Value currently residing in the Commodities segment and any available unpledged equity in the Securities segment that can be swept into the Commodities segment. So the account’s Total Net Liquidation Value number can be different than the Net Liquidation Value number displayed in a future order’s Order Confirmation preview window. The credit check at the time an order is entered looks at the amount of Available Funds in the account. If the account has enough Available Funds for all current open orders and the new order being credit checked then the order can be accepted.
The Available Funds for an order in the securities segment is the Equity with Loan Value - Initial Margin.
The Available Funds for an order in the commodities segment is the Net Liquidation Value - Initial Margin.
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Additional Information:
- The Account Window Users' Guide.
- The Available for Trading section in the Account Window.
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