What is a Futures Maintenance Call? (FM Call)
When account equity is less than the futures maintenance requirement
A Futures Maintenance call (FM) is issued when the equity in the futures account is less than the margin requirement. In other words, your account does not have enough money to cover the maintenance requirement (or overnight requirement) to hold your current future(s) position.
What determines the FM call amount?
FM calls generally base from the previous day's close
When issued an FM call, the original amount referenced in the email from our margin team is determined by the settlement value at the previous day's close. Seeing negative options buying power amount when holding a futures position is typically indicative of an FM call. Additionally, the margin deficit can change intraday due to price movement. Your account must maintain a margin surplus (positive options buying power) to meet the FM call.
How to meet an FM call
You have four methods to meet an FM call
Futures Margin Calls are typically due T+1 from the day that they are issued. This means that a futures margin call must be met the following day or tastyworks reserves the right, not the obligation to close the position. Accounts may meet an FM call by:
- Cash deposit: ACH or Wire transfer
- Depositing securities
- Position appreciation
- Closing position(s) to generate sufficient margin release
If you plan to meet the call using any of the methods listed above, then please let our margin team know by writing to firstname.lastname@example.org.