Starting August 28th the NYSE will impose a $25,000 minimum equity requirement for “pattern day traders.” Effective September 28, the NASD will impose the same requirement. Consistent with the new margin rules, as of August 28th, if a customer’s margin account falls under $25,000 and the customer has opened and closed positions on the same day three times within five days, the customer will not be allowed to open new positions until the $25,000 requirement is restored or the five days have elapsed.

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