Generally, short sales are subject to the following ongoing margin requirements. We reserve the right to further restrict margins at a level that is higher than prescribed here:

TSX eligible for reduced margin (IIROC) at $5 or greater: Long requirement 30% Short requirement 130%

TSX not eligible for reduced margin at $5 or greater: Long requirement 50% Short requirement 150%

US option eligible at $5 or greater: Long requirement 30% Short requirement 130%

US option not eligible at $5 or greater: Long requirement 50% Short requirement 150%

TSX, NYSE, NASDAQ, AMEX from $2.00 - $4.99: Long requirement 50% Short requirement 150%

All securities from $0.00 - $1.99: Long requirement 100% Short requirement not permitted

Venture, OTC, Pink Sheets, Bulletin Boards, COATES at $0.00 or greater: Long requirement 100% Short requirement not permitted

Please be advised that some exceptions do apply. Sales proceeds are included when margin amount is calculated. We reserve the right to further restrict credit or leverage on such products at a level that is higher than the prescribed minimum regulatory margin rates.