CREDITS TO CUSTOMER. Broker shall promptly credit to the trading account of Customer any Variation Margin resulting from the variation in value of one or more Contracts purchased or sold by Customer in accordance with the Rules and Regulations. Each business day such a credit is made, Broker shall transfer trading account balances of Customer in Federal Funds to IFTC, or to such other bank account in Customer's name as Customer shall direct. Amounts due to a Customer as a result of the variation in value of such Customer's short option positions shall be credited to Customer by reducing the amount of Collateral required to be maintained in the Safekeeping Account.
Appears in 10 contracts
Samples: Custody and Investment Accounting Agreement (Bull & Bear Funds I Inc), Custody and Investment Accounting Agreement (Midas Fund Inc), Custody and Investment Accounting Agreement (Bull & Bear Special Equities Fund Inc)
