Funds Withdrawal Requests

Customer Funds Withdrawal Requests

Set forth below is the IECo and Shatkin-Arbor, Inc. policy concerning customer funds withdrawal requests. Our customers typically deposit funds into their trading accounts by check or wire transfer. We will attempt to have a check or wire transfer for the requested funds sent to our customer on the same business day that the request is made, so long as the request is made before 10:30 A.M. CST. Withdrawal requests made after 10:30 A.M. CST will be promptly processed, but will likely be completed on the following business day.

Partial Withdrawal Requests:

Periodically customers will withdraw a portion of the funds in their trading accounts. The above criteria pertain to those funds. In addition, customers who recently deposited funds into their trading accounts by check are not permitted to withdraw any portion of that deposit until 10 business days have elapsed since the deposit date. Funds wire transferred into a customer's account will be processed upon request without restriction, except that the withdrawal cannot take place on the same day that the funds are transferred into the trading account. There is an important overriding issue on partial withdrawal requests when open positions reside in the trading account. The amount of funds returned to the customer cannot be such as to create a situation where the withdrawal would create a margin call. Shatkin Arbor, Inc. has sole discretion on the amount of funds returned in such cases and Shatkin Arbor, Inc. shall not be responsible for margin calls occurring after funds are returned, due to continually changing market conditions.

Total Withdrawal Requests:

All of the above criteria apply to customers who request total withdrawals of their trading funds. In addition, our policy is to initially return all funds, less $25 to cover any fees or charges which may be incurred by the customer, but have not yet been charged to the trading account. The balance remaining in the account will be sent within 10 business days after the initial disbursement.

Ira Epstein & Company
Accounts Section