Q1
10 Qs
Q1
What statement(s) is/are correct about electronic funding of customer accounts?
I. FDMs are prohibited from permitting customers to fund their commodity interest accounts with a credit card or other electronic funding mechanisms that draw funds from credit cards.
II. FDMs may accept customer deposits from electronic payment mechanisms that draw funds directly from a customer's account at a financial institution.
III. Trading authority over a customer account for which the FDM is, or is offering to be, the counterparty is not permitted by FDMS and their Associates.
IV. An FDM must offset the holdings on a first-in, first-out basis and may not carry offsetting positions in a client account.
I. FDMs are prohibited from permitting customers to fund their commodity interest accounts with a credit card or other electronic funding mechanisms that draw funds from credit cards.
II. FDMs may accept customer deposits from electronic payment mechanisms that draw funds directly from a customer's account at a financial institution.
III. Trading authority over a customer account for which the FDM is, or is offering to be, the counterparty is not permitted by FDMS and their Associates.
IV. An FDM must offset the holdings on a first-in, first-out basis and may not carry offsetting positions in a client account.
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