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The Financial Industry Regulatory Authority (FINRA) defines a Pattern Day Trader (PDT) as one who effects 4 or more day trades (same day purchase and sale of a given equity security ("stock") or equity option) within a 5 day period, and FINRA rules place certain restrictions on those who are deemed to be pattern day traders. If an account effects three (3) day trades involving stocks or equity options within any five (5) day period, we will require that such account satisfy the minimum Net Liquidation Value requirement of $25,000 before we will accept the next order to purchase or sell a stock or equity option. In the event the account has effected a fourth day trade (in such 5 day period), we will deem the account to be a PDT account.


Please note that the PDT regulations allow a broker to remove the PDT designation if the client acknowledges that she/he does not intend to engage in day trading strategies, requests that the PDT designation be removed and has not been issued a PDT reset in the previous 180 days. If you wish to have the PDT designation for this account removed, please provide us with the following acknowledgment:


I agree to the following:

1. I do not intend to engage in a day trading strategy in my account.

2. I hereby request that this account no longer be designated as a "Pattern Day Trading" account under FINRA rules.

3. I understand that if, following this acknowledgment I engage in Pattern Day Trading, this account will be designated as a "Pattern Day Trading" account, and all applicable PDT rules will be apllied to this account.