Can PHLX impose a higher margin requirement based on member reports?
Yes, if deemed necessary in light of the risks associated with an under-hedged non-FLEX equity option position in excess of 10,000 contracts on the same of the market, PHLX may consider imposing additional margin upon the account maintaining the under-hedged position. Please note the clearing firm carrying the account will be subject to capital charges under SEC Rule 15c3-1 to the extent of any margin deficiency resulting from the higher margin requirements.
