If you have an open position on a stock that delists, we’ll close your position at a level of zero and typically open a new position – called a ‘proceeds line’ – on your behalf which is untradeable, has no price and brings no value to your account. Once the company confirms there is no return to shareholders, which can take years, we will close your proceeds line position at the level of zero, unless you have a guarenteed stop, in which case your position will be closed at your guareenteed stop level.
However, we won’t start this procedure as soon as a company announces it is delisting. The stock status will first need to be reviewed by our corporate actions and risk departments.
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