collateral · mark-to-market · margin call
📖 Margin & Collateral
Notes on the credit lifecycle in a brokerage — not ratio formulas but invariants: collateral & haircuts, pre-order reservation, mark-to-market valuation, loan interest accrual, margin calls, forced liquidation, exceptions and the audit trail of every decision.
Sources: hands-on margin-lending system notes · public brokerage margin documentation · risk-management literature.

