Title 17: Commodity and Securities Exchanges
CHAPTER I: COMMODITY FUTURES TRADING COMMISSION
PART 1: GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT
1.34 - Monthly record, ?point balance?.(a) Each futures commission merchant shall prepare, and retain in accordance with the requirements of ? 1.31, a statement commonly known as a ?point balance,? which accrues or brings to the official closing price, or settlement price fixed by the clearing organization, all open contracts of customers as of the last business day of each month or of any regular monthly date selected: Provided, however, That a futures commission merchant who carries part or all of customers' open contracts with other futures commission merchants on an ?instruct basis? will be deemed to have met the requirements of this section as to open contracts so carried if a monthly statement is prepared which shows that the prices and amounts of such contracts long and short in the customers' accounts are in balance with those in the carrying futures commission merchants' accounts, and such statements are retained in accordance with the requirements of ? 1.31.
(b) Each futures commission merchant shall prepare, and retain in accordance with the requirements of ? 1.31, a listing in which all open commodity option positions carried for option customers are marked to the market. Such listing shall be prepared as of the last business day of each month, or as of any regular monthly date selected, and shall be by put or by call, by underlying contract for future delivery (by delivery month) or underlying physical (by option expiration date), and by strike price.
(Approved by the Office of Management and Budget under control numbers 3038-0007 and 3038-0024)
[46 FR 54521, Nov. 3, 1981, as amended at 46 FR 63035, Dec. 30, 1981; 47 FR 57008, Dec. 22, 1982]