Table of Contents

Preface. About the Author. Chapter 1. Cash Accounts. Sale of Securities. Paying for Securities by the Sale of Other Securities. Delivery against Payment. Employee Stock Options. Chapter One Questions. Chapter 2. Initial Federal Margin Requirements. Purchases. Sales. Meeting a Margin Call. Chapter Two Questions. Chapter 3. Initial and Minimum Maintenance Requirements. Initial Requirements. House Requirements. NYSE Minimum Maintenance Requirements. Chapter Three Questions. Chapter 4. The Special Memorandum Accounts. Customer's Account. Chapter Four Questions. Chapter 5. Short Sales. Covering Short Sales. NYSE Minimum Maintenance Requirements. Sample Transactions. Short Sale versus the Box or Short against the Box. Prime Broker. Chapter Five Questions. Chapter 6. Bonds. U.S. Government Securities. Zero-coupon Government Obligations. Municipals. Nonconvertible Corporate Bonds. Chapter Six Questions. Chapter 7. Miscellaneous Categories. When-Issued and When-Distributed Transactions. Segregation of Customer's Securities. Review of Customers' Accounts. Interest charges. Margin of New Issues. Day trades. Chapter Seven Questions. Chapter 8. Options. Definition. Additional Definitions Related to the Type of Options. Examples. Requirements for the Purchase and/or Sale of Options. Long-Term Equity Anticipation Securities. Other Types of Options. Additional Details Concerning Options. Chapter Eight Questions. Chapter 9. Portfolio Margining. Margin Deficiencies. Chapter 9 Questions. Appendix A. The Federal Reserve. Appendix B. Customer Margin Account and SMA Sheets. Appendix C. Answers to Chapter Questions. Appendix D. Final Examination Questions. Appendix E. Final Examination Answers. Glossary of Terms. Index.

About the Author

Michael T. Curley has fifty years of experience in the field of finance, including fifteen years in the banking industry and fifteen years in the brokerage industry. He has attained experience as a manager of operations at Citibank, as a vice president of operations at both State Street and Hartford Trust Company of New York, and from work in the Division of Compliance, Finance, and Margin at the New York Stock Exchange. Since 1987, Curley has been a full-time financial trainer and consultant. He currently teaches at the New York Institute of Finance and at the Securities Operations Forum.