Net equity

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Prime Brokerage Anatomy™
There is no industry standard prime brokerage agreement, so this is not so much an anatomy as a collection of resources about an amorphous subject.
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The value of a client’s portfolio — longs, shorts, swap mark-to-market and net cash balances, minus all margin requirements. The stuff you have to play around with.

For an essay in whether you should be automatically entitled to play around with it, see Variation margin creates more problems than it solves

See also