Securities Account

Commodities Account

Balance

Net Liquidation Value

Total cash value + stock value + securities options value + bond value

Total cash value + commodities options value

Equity with Loan Value

• Cash Account:  Settled Cash

• Margin Account: Total cash value + stock value + bond value +( non-U.S. & Canada securities options value)

• Cash Account: Total cash value + commodities option value - futures maintenance margin requirement + minimum (0, futures PNL)

• Margin Account:  total cash value + commodities option value - futures maintenance margin requirement

Previous Day Equity with Loan Value

Marginable Equity with Loan Value as of 16:00 ET the previous day

Not applicable

SMA

Max ((EWL - US initial margin requirements)*, (Prior Day SMA +/- change in day's cash +/- US initial margin requirements** for trades made during the day.))

* calculated end of day under US Stock rules, regardless of country of trading.

**at the time of the trade

Not applicable

Buying Power

• Cash Account: (Minimum (Equity with Loan Value, Previous Day Equity with Loan Value)-Initial Margin)

• Standard Margin Account: Available Funds*4

Securities Gross Position Value (GPV)

Long Stock Value + Short Stock Value + Long Option Value + Short Option Value

Total Cash Value

Settled cash + sales at the time of trade

Settled cash + sales at the time of trade + futures PNL

Settled Cash

Cash recognized at the time of settlement - purchases at the time of trade - commissions - taxes - fees

• Stock Settlement: Trade date + 3 days

• Options Settlement: Trade date + 1 day

Cash recognized at the time of settlement - purchases at the time of trade - commissions - taxes - fees

• Futures Settlement: Trade date + 1 day

Available Funds

Equity with Loan Value - Initial margin

Net Liquidation Value -  Initial margin

Leverage

Gross Position value / Net Liquidation value

Net Liquidation value - Initial margin