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Position Management

Open Position

Once a trade has been registered an open position is created. The open position has a series of rules:

  • Trades with opposite sign for the same contract are netted regarding the open position; for example, the purchase of two futures of annual 2020 contract and the sale of three futures from the same contract leave an open position of one futures contract sold from annual 2020 contract.
  • In segregated clients’ accounts, which have a "gross record", different trades for the same contract are not netted; following the previous example, the purchase of two futures of annual 2020 contract and the sale of three futures from the same contract leave an open position of two futures purchased and three sold from annual 2020 contract.

Although clearing occurs at the open position level, trades are live until the expiry date.

 

 

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