[Code of Federal Regulations]
[Title 17, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 17CFR1.34]

[Page 74]
 
              TITLE 17--COMMODITY AND SECURITIES EXCHANGES
 
             CHAPTER I--COMMODITY FUTURES TRADING COMMISSION
 
PART 1--GENERAL REGULATIONS UNDER THE COMMODITY EXCHANGE ACT--Table of Contents
 
Sec. 1.34  Monthly record, ``point balance''.

    (a) Each futures commission merchant shall prepare, and retain in 
accordance with the requirements of Sec. 1.31, a statement commonly 
known as a ``point balance,'' which accrues or brings to the official 
closing price, or settlement price fixed by the clearing organization, 
all open contracts of customers as of the last business day of each 
month or of any regular monthly date selected: Provided, however, That a 
futures commission merchant who carries part or all of customers' open 
contracts with other futures commission merchants on an ``instruct 
basis'' will be deemed to have met the requirements of this section as 
to open contracts so carried if a monthly statement is prepared which 
shows that the prices and amounts of such contracts long and short in 
the customers' accounts are in balance with those in the carrying 
futures commission merchants' accounts, and such statements are retained 
in accordance with the requirements of Sec. 1.31.
    (b) Each futures commission merchant shall prepare, and retain in 
accordance with the requirements of Sec. 1.31, a listing in which all 
open commodity option positions carried for option customers are marked 
to the market. Such listing shall be prepared as of the last business 
day of each month, or as of any regular monthly date selected, and shall 
be by put or by call, by underlying contract for future delivery (by 
delivery month) or underlying physical (by option expiration date), and 
by strike price.

(Approved by the Office of Management and Budget under control numbers 
3038-0007 and 3038-0024)

[46 FR 54521, Nov. 3, 1981, as amended at 46 FR 63035, Dec. 30, 1981; 47 
FR 57008, Dec. 22, 1982]