(1) Difference between the lending and deposit rates of a bank, between purchase and sale prices or between bid and ask rates. See also interest margin or spread.

(2) Security deposited in stock market, option, foreign currency or precious metals trading for a forward or futures transaction or in connection with the sale of an option to cover the price risk. See also initial margin, variation margin.

(3) Loan-to-value ratio for collateral loans. See also collateral security margin.