MLD Margin Tutorial Rev Aug 20051

Margin Tutorial for Merrill Lynch Direct Accounts Merrill Lynch & Co., Inc. Revised August 2005 IMPORTANT NOTICE The following information is provided for Merrill Lynch Direct (MLD) clients to help you learn more about margin trading rules and requirements, especially for trades entered online through the Merrill Lynch Online Client Order Entry function. (Note: MLOL Client order Entry requires separate enrollment.) Clients who also have Merrill Lynch Direct accounts should read the Merrill Lynch Direct Account Margin Tutorial as the rules and requirements for self-directed margin trading in Merrill Lynch Direct accounts are different in some respects. MLOL clients who have questions about margin trading rules should contact their Financial Advisors for assistance; Merrill Lynch Direct clients can call the Merrill Lynch Help Desk at 1-877-ML-DIRECT (1-877-653-4732) with questions about the Merrill Lynch Direct Margin Tutorial. This tutorial contains information, terminology, and requirements associated with margin trading at Merrill Lynch. As a Merrill Lynch Direct client, you will have access to your accounts and, if approved, be permitted to enter margin trades online. We believe you should have a basic understanding of margin prior to entering trades involving an extension of credit. Please note the examples contained in this Margin Tutorial do not ...