What is meant by Equity with Loan Value?

Equity with Loan Value (ELV) forms the basis for determining whether a client has the necessary assets to either initiate or manage security positions. The ELV formula for the securities segment of the Universal Account is as follows: Cash + stock value + bond value + mutual fund value + European and Asian options value (excludes market value U.S. securities & futures options and cash maintained in futures segment).

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