IB PM accounts can be autoliquidated after a 10 minute warning just like reg-t accounts. he's talking about the margin recalculation that happens overnight with PM accounts. but your net liq can still fall intraday if the market moves against you or if there's a bogus last
Yet in the case of a bogus quote or market move causing a drop in the net liq, a liquidation in a PM account will not "automatically" result in a reduction in margin requirement as it would in Reg T since the PM margin requirement is calculated overnight and remains static through the day. (http://www.interactivebrokers.com/en/p.php?f=margin&p=pmar-default) This may be why regulators frown on liquidations by customers as a means of meeting PM margin deficiencies. I doubt the framers of the portfolio margin concept ever contemplated a 1-minute-notice-auto-liquidation due to sudden, brief market moves or bogus quotes that bring your trade's marked value below, however briefly, a margin requirement calculated on last night's TIMS report. Look at: http://www.finra.org/Industry/Regulation/Guidance/p038849