Variation Margin Requirement. If AFEX determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealized loss when marked to market exceeds 10% or an alternative percentage or fixed amount as AFEX may advise, of the notional value of the open Orders. Client is required to post with AFEX Variation Margin as stated in the Margin Call issued by AFEX. Each time the net market value of all of Client’s open Orders declines and the unrealized loss when marked to market further increases, AFEX may issue a Margin Call whereby Client is required to post additional Variation Margin in the amount stated in the Margin Call within one (1) clear Business Day. Payment of Variation Margin is due on or before the close of business on the next Business Day after the day AFEX issues Margin Call to Client.
Variation Margin Requirement. If Argentex determines, in its sole discretion, that the net market value of all of Client’s open Transactions (i.e., on a portfolio basis) has declined and the unrealised loss when marked to market exceeds the limit assigned to the Client, Argentex may advise the Client that they are required to deliver Variation Margin as stated in the Margin Call issued by Argentex. Each time the net market value of all of Client’s open Transactions declines and the unrealised loss when marked to market further increases, Argentex may issue a Margin Call whereby Client is required to deliver additional Variation Margin in the amount stated in the Margin Call within one (1) clear Business Day. Payment of Variation Margin is due on or before the close of business i.e., 5pm Sydney time, on the next Business Day after the day Argentex issues the Margin Call to Client.
Variation Margin Requirement. If AFEX determines, in its sole discretion, that the net market value of all of Client’s open Orders has declined and the unrealised loss when marked to market exceeds 7.5% or an alternative percentage or fixed amount as AFEX may advise, of the notional value of the open Orders, Client is required to post Variation Margin as stated in the Margin Call issued by AFEX.
