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ESMA Decision 2019/796\"\ndate: 1 June 2018\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1980\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 1 June 2018\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1980\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"ESMA\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"ESMA Answer\"\n    locator: \"ESMA Q&A entry ESMA_QA_1980: field 'ESMA Answer', no 'Answer provided by' line\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2018-06-01\"\n  question_submitted_on: \"2018-06-01\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1980, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1980, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer by ESMA, published in its Q&A tool · not legislation · published 1 Jun 2018 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 1 June 2018 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1980)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1980 — Q&A — Margin close-out protection \\[Answer Published\\] |\n| **Prepared by** | ESMA |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1980 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 1 June 2018; question submitted 1 June 2018 |\n| **Legal basis** | ESMA Decision 2018/795; ESMA Decision 2019/796 |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**Margin close-out protection**\n\n### Question\n\nWhat is considered to be the ‘sum of funds in the CFD trading account’ and the “unrealised net profits of all open CFDs connected to that account’ for the purposes of margin close-out protection?\n\n***\n\n### Answer\n\n\\[ESMA 35-36-1262 Q&As on product intervention, Q&A 5.3\\]\n\nThe sum of funds in the CFD trading account means any cash credited to the client’s relevant CFD trading account and cash only. No other type of asset (e.g. other financial instruments) within or separate to the CFD trading account may be taken into account.\n\nThe unrealised net profits of all open CFDs connected to that account means the sum of unrealised gains and losses of all open CFD positions recorded in the relevant account.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1980)\n"}