the end of each business day in order to realize the profit or loss from derivatives position everyday. If mark to market went against investor position, the initial margin will decreases by that amount

operation within the period of time specified by the Office and such registration shall be deemed valid until the Office orders otherwise. In cases where the Office declines to grant a renewal to any

approval the Office may specify additional conditions which apply to such investor contact and the securities company which has submitted the application for approval. In case the Office declines to grant