FINRA Proposes Intraday Margin Standards Replacing Day Trading Rules
Summary
FINRA has proposed a rule change to replace its current day trading margin provisions with intraday margin standards. This proposal, SR-FINRA-2025-017, would amend FINRA Rule 4210 and eliminate existing day trading margin requirements. The SEC is currently reviewing the proposal.
What changed
FINRA has filed a proposed rule change (SR-FINRA-2025-017) with the SEC to amend FINRA Rule 4210, specifically replacing the current day trading margin provisions with new intraday margin standards. This action involves eliminating existing paragraphs related to day trading margin requirements and establishing new paragraphs for intraday margin calculations. The proposal aims to modernize margin requirements for day trading activities.
Broker-dealers and fund managers will need to review the proposed changes to understand how intraday margin calculations will differ from current day trading rules. While no specific compliance deadline is provided in this initial filing, regulated entities should monitor the SEC's review process and prepare for potential new obligations once the rule is finalized. The Federal Register Notice indicates a longer period for Commission action, suggesting the comment period and finalization may take some time.
Source document (simplified)
Proposed Rule Change to Amend FINRA Rule 4210 (Margin Requirements) to Replace the Day Trading Margin Provisions with Intraday Margin Standards
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rule 4210 to replace its current day trading margin provisions with modern intraday margin standards. As such, the proposed rule change would eliminate paragraph (f)(8)(B) under Rule 4210 together with associated provisions relating to the day trading margin requirements under paragraphs (b), (f)(10) and (g)(13), would establish new paragraphs (a)(17) through (a)(19), new paragraph (d)(2) and new paragraphs (g)(1)(J) and (g)(1)(K), and would make minor conforming amendments.
| Title | Format - Size | Status |
| --- | --- | --- |
| Text of the Proposed Rule Change | PDF - 1.99 MB | |
| Federal Register Notice | PDF - 265.98 KB | |
| Notice of Designation of a Longer Period for Commission Action | PDF - 202.13 KB | |
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