Do you have to be a:
1) Broker Dealer
2) Be a market maker
3) Something else
in order to be able to get cross margin? So for example, say I buy 1 ES 1200 strike put, and I sell 5 120 strike SPY options, at what firms can I get cross margining for that if I am not 1 or 2? Can it be done without being 1 + 2?
You need to be a self clearing broker dealer.
"Is STANS now approved for portfolio margining use?
No, STANS is only used at the clearing level for self-clearing OCC member firms. TIMS is the approved methodology for portfolio margining and for broker-dealer net capital requirements under SEA Rule 15c3-1."