TradingHolder+ tier
Cross-margin
One collateral pool margins positions across every ticker. Offsetting legs are netted, with no liquidation price.
A single collateral pool backs positions across every ticker. You don't keep a separate pot of collateral per stock.
Isolated: every leg funded separately
Leg ALeg BLeg CLeg D
Cross-margin: offsetting legs netted
Max loss, reservedFreed
Payoff shape at expiry · not to scale
How netting works#
- Offsetting defined-risk legs are netted, so a hedged book needs less collateral than the sum of its parts.
- Every position's maximum loss stays reserved. Netting only removes collateral that could never be needed.
- Because of that, cross-margin never introduces a liquidation price.
What it's for#
- Running a book of spreads and hedges across tickers from one account.
- Freeing collateral that isolated margin would lock up twice.