| Maximum Loan Value based on Market Value | |||
| Long Position | Equities / 1x ETF | 2x ETF | 3x ETF |
| If price < $1.50 | 0% | 0% | 0% |
| If $1.50 ≤ price < $1.75 | 20% | 7.14% | 0% |
| If $1.75 ≤ price < $2.00 | 40% | 14.29% | 0% |
| If price ≥ $2.00 (Reduced Margin) | 70% | 35% | 10% |
| If price ≥ $2.00 (Not Reduced Margin) | 50% | 25% | 0% |
| Minimum credit requirements based on market value | |||
| Short Position | Equities / 1x ETF | 2x ETF | 3x ETF |
| If price < $1.50 | 2x Market Value but to a minimum of $1.50 per share | $6 per share | $9 per share |
| If $1.50 ≤ price < $2.00 | $3 per share | $12 per share | $18 per share |
| If price ≥ $2.00 (Reduced Margin) | 130% | 165% | 190% |
| If price ≥ $2.00 (Not Reduced Margin) | 150% | 175% | 200% |
Reduced Margin eligibility for Canadian securities is determined by the Investment Industry Regulatory Organization of Canada (IIROC) on a quarterly basis. Most major US stocks with listed options are eligible for reduced margin. CI Investment Services reserves the right to impose more stringent margin requirements at any time without prior notice. These changes often take effect immediately and may result in the issuance of a margin call.