The NYSE regulations state that if an account with less than USD 25,000 is flagged as a day trading account, the account must be frozen to prevent more trades for a period of 90 calendar days from the last day trade.
Please note: If the intraday situation occurs, the customer will instantly be prohibited from launching any new positions. However, customers should be able to close any existing positions in the account.
If you choose to perform a PDT Reset, you will be able to trade again 5 business days from the date of the last day trade. If you choose to deposit more funds into your account to bring your securities NLV above USD 25,000, you will be able to trade instantly.
If an account gets re-flagged as a PDT account within 180 days after the reset, the customer then has the following options:
- Deposit funds to bring the account’s equity up to the SEC required minimum of $25,000
- Wait the required 90 day period before any new positions can be launched