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What’s New in TradeStation 9.5 Update 21

What’s New in TradeStation 9.5 Update 21

TradeStation 9.5 update 21 now uses the greater of Overnight Buying Power or Day Trade Buying Power to determine if an order should be accepted or rejected. In cases where an order exceeds both values, the order will be rejected. If the order exceeds only one of the values, a Buying Power Alert window will appear to notify you that the order could result in a margin call. The alert will provide information on the type of call and approximate amount. Once the information has been reviewed, you will have the option to send or cancel the order. Please note it is your responsibility to enter orders that remain within the Buying Power for your trading style. And as always with TradeStation 9.5 Update 21, we’ve addressed some important issues identified in the previous update.

Buying Power Example

This example demonstrates the calculation of Buying Power through a series of transactions and shows how Day Trade Buying Power can exceed Overnight Buying Power.

Start of Day 1 
Cash Balance $25,000
Positions None – Market
Value = $0
Margin Equity $25,000
Maintenance Requirement $0
Maintenance Excess $25,000
Day Trade Requirement $0
Day Trade Buying Power $100,000
Overnight Requirement (Regulation T) $0
Overnight Buying Power (Regulation T) $50,000

Assume the only transaction for the day is the purchase of 1,000 shares of XYZ at $50 per share.
The purchase amount of $50,000 is deducted from the Day Trade and Regulation T Buying Power.

Post Transaction 
Cash Balance ($25,000)
Positions 1,000 XYZ priced at $50, Market Value = $50,000
Margin Equity $25,000
Maintenance Requirement $12,500
Maintenance Excess $12,500
Day Trade Requirement $12,500
Day Trade Buying Power $50,000
Overnight Requirement (Regulation T) $25,000
Overnight Buying Power (Regulation T) $0

Assuming XYZ closed at $55, our account status at the start of day 2 is:

Start of Day 2 
Cash Balance ($25,000)
Positions 1,000 XYZ priced at $55, Market Value = $55,000
Margin Equity $30,000
Maintenance Requirement $13,750
Maintenance Excess $16,250
Day Trade Requirement $13,750
Day Trade Buying Power $65,000
Overnight Requirement (Regulation T) $27,500
Overnight Buying Power (Regulation T) $5,000

Assume XYZ continues to increase in value and is sold at $65.

Post Transaction 
Cash Balance $40,000
Positions 0
Margin Equity $40,000
Maintenance Requirement $0
Maintenance Excess $40,000
Day Trade Requirement $0
Day Trade Buying Power $65,000
Overnight Requirement (Regulation T) $0
Overnight Buying Power (Regulation T) $80,000

Notice that Day Trade Buying Power does not change. Day trade Buying Power cannot increase above the start of day value. Overnight buying power will be credited when positions are closed.
All TradeStation platforms determine if an order will be accepted based the greater of Overnight or Day Trade Buying Power.
If an order to buy 1,000 shares of ABC at $75 per share is entered, you will receive a warning message alerting you to the fact that day trade Buying Power has been exceeded.

If you plan to hold the position overnight, and accept the order, the account status will be:

Post Transaction 
Cash Balance ($35,000)
Positions 1,000 ABC priced at $75, Market Value = $75,000
Margin Equity $40,000
Maintenance Requirement $18,750
Maintenance Excess $21,250
Day Trade Requirement $18,750
Day Trade Buying Power ($10,000)
Overnight Requirement (Regulation T) $37,500
Overnight Buying Power (Regulation T) $5,000

At this point, Day Trade Buying Power has been exceeded. If the newly purchased ABC shares are sold today, a Day Trade margin call will be issued. If the position is held overnight, the account will be in good standing.

Ticket # Description
TS-11756 Addressed a situation in OCO type orders that could cause a race condition.
TS-13076 Corrected an issue with the Matrix bracket order quantity displaying incorrectly when using dollar base quantity.
TS-13942 Ensured strategy orders are sent or held correctly when re-calculations are performed.
TS-14219 Prevented options symbols not changing in OptionStation Pro when clicking on option chain, and ensured that the Order Bar has the right price increment for a Duplicate/Opposite order.
TS-14361 Addressed an issue when attaching an OSO in the Matrix to an invalid symbol.
TS-14880 Corrected an issue where the TradingApp popup dialog incorrectly appeared at login.
TS-5213 Updated the Strategy Automation Warning text with relevant information.
TS-15226 Prevented a Portfolio Maestro issue and improved stability during back testing.
TS-15578 Corrected the text in a confirmation dialog that displayed “Long Position” instead of "Short Position."
TS-15706 Prevented an OSPro Exception where the sequence contained no elements.
TS-15817 Corrected an issue where odd lot bracket orders gave a quantity error.