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Today, the SEC approved a major FINRA rule change that eliminates the Pattern Day Trader (PDT) rule and replaces it with a new intraday margin system.
sec.gov/files/rules/sr…
📷 What’s Being Removed
The $25,000 minimum account requirement for day traders
📷 What’s Replacing It
A new intraday margin framework that:
Measures risk in real time (or end-of-day) instead of counting trades
Requires traders to maintain enough equity based on actual exposure
Applies to all margin accounts, not just day traders
📷 How the New System Works
Firms monitor your account for intraday margin deficits (when risk exceeds equity)
📷 Implementation Timeline
Rule is approved now (April 2026)
FINRA will:
Announce an official start date
New rules go live ~45 days after that notice
Firms can phase in over up to 18 months
📷 Key Takeaway
The market is shifting from “how often you trade” to “how much risk you take.”
This is a huge structural change—it opens the door for more traders while still enforcing discipline through real-time risk management.
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