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Reverse Stock Split Treatment

  • All positions will be closed at the end of day rate.
  • Any floating profit or loss will be realized.
  • Positions are then automatically reopened at an adjusted open rate and position size, to retain the same notional value as the closed position.

    • For example if a client has 100 contracts opened and the end of day rate is 300.00 and the underlying share has a 10:1 Reverse Stock Split
    • The old position will be closed at 300.00
    • A new position will be opened for 10 contracts at an opening rate of 3000.00
  • Pending orders including stop/limits are deleted and required to be re-entered manually by clients.
  • If the reverse split ratio is not a whole number, then only the closest whole number of contracts will be reopened. Where rounding is required, we will always round down.
  • Margins will be updated accordingly using the same split ratio.

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