Regulatory AlertsKNF Opinion on the Required Level of Margin Deposit for a Financial Instrument
The Polish Financial Supervision Authority (KNF) clarifies the application of Article 73(2a)-(2c) of the Act on Trading in Financial Instruments, which mandates a minimum margin deposit of 1% of the nominal value for retail clients trading specific derivatives. The opinion specifies that this requirement applies to each individual transaction, including acquisitions, disposals, and closing orders, while exempting additional deposits when closing orders fully offset existing positions. Furthermore, it establishes that for offsetting orders that do not fully close a position, the margin requirement is calculated based on the nominal value of the order with the higher value.
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