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1 Markets I: The Ecosystem and Exchange-Traded Marketsالأسواق عبر الإنترنت 2 Markets II: Rates, FX and Creditالأسواق عبر الإنترنت 3 Markets III: Commodities, Energy and Cryptoالأسواق عبر الإنترنت 4 Quantitative Methodsالأساليب عبر الإنترنت 5 Derivatives and Volatilityالمشتقات عبر الإنترنت 6 Rates, Credit, XVA and Riskالفائدة والائتمان والمخاطر عبر الإنترنت 7 Research Craft: Predictors, Backtests, Measurement, Portfoliosالبحث عبر الإنترنت 8 Strategies I: Equities and Futuresالاستراتيجيات عبر الإنترنت 9 Strategies II: Volatility, Relative Value, Macro and the Bank Desksالاستراتيجيات عبر الإنترنت 10 Microstructure and Executionالتنفيذ عبر الإنترنت 11 Market Making and High-Frequency Tradingصناعة السوق عبر الإنترنت 12 Machine Learning for Marketsتعلم الآلة عبر الإنترنت 13 Low-Latency Softwareالتكنولوجيا عبر الإنترنت 14 Networks, Hardware and Trading Infrastructureالتكنولوجيا عبر الإنترنت 15 Research, Data and Risk Platformsالتكنولوجيا عبر الإنترنت 16 The Desk and the Firmالشركة عبر الإنترنت 17 The Industry: Firms, Roles and Careersالمسارات المهنية عبر الإنترنت 18 The Interview Bookالمسارات المهنية عبر الإنترنت
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Quantitative Finance · المسرد

ما معنى Net capital rule؟

Definition 2.5 The Desk and the Firm · الفصل 2 — The Proprietary Market-Making Firm

The net capital rule is the United States requirement that a broker-dealer keep its net capital, its net worth less illiquid assets and less haircuts on its positions, above a floor set by its business and by its indebtedness or its customers’ debits.

The chapter’s firm (fixed overheads $95 million a year, $10 billion a day of cash trades): the three parts of the European own funds requirement, K-DTF if the same flow were derivatives, and the trading capital its prime brokers require. The regulatory requirement is the largest of the first three; the prime brokers’ is eight times it. Coefficients: Regulation (EU) 2019/2033; firm parameters illustrative. Data: fm_partner.regulatory.
Figure 2.2. The chapter’s firm (fixed overheads $95 million a year, $10 billion a day of cash trades): the three parts of the European own funds requirement, K-DTF if the same flow were derivatives, and the trading capital its prime brokers require. The regulatory requirement is the largest of the first three; the prime brokers’ is eight times it. Coefficients: Regulation (EU) 2019/2033; firm parameters illustrative. Data: fm_partner.regulatory.
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