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HALIFAX FUTURES & SECURITIES. Account Statements. Account Statement Explanation. There are five main areas 1. Account Details Account Number 2. Position Summary Futures Futures Options Cash Options 3. Account Financial Summary Cash Balance Variation Margin Total Equity

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Halifax futures securities l.jpg

HALIFAX FUTURES & SECURITIES

Account Statements


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Account Statement Explanation

There are five main areas

1. Account Details

  • Account Number

    2. Position Summary

  • Futures

  • Futures Options

  • Cash Options

    3. Account Financial Summary

  • Cash Balance

  • Variation Margin

  • Total Equity

  • Initial Margins

  • Security

  • Excess / (Shortage)

  • Forward Dated Journals

  • Adjusted Excess/Shortage


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Account Statement Explanation

4. Account Financial Summary - Continued

  • FOR INFORMATION ONLY

  • Forward Unrealized P&L

  • Net Premium Option Market Value

  • Net Liquidating Value (NLV)

    5. Business Done Today

    6. Monthly Statement

  • Commissions & GST


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Account Details

HALIFAX FUTURES AND SECURITIES

OPEN POSITION STATEMENT

Account Number

Must quote to broker each time an order is placed

MACQUARIE BANK LIMITED

Banking Institution where funds are held

COB Global

Close Of Business on Global markets – Approx 2.00pm AET

COB SFE

Close Of Business on SFE, ASX AND NZFOE markets – Approx 7.00am AET


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Position Summary - Futures

On 24 March 2004, 1 June Spi 200 has been bought @ 3411.0

The Current Price is an indication of the price you “could” achieve to exit out of this trade. Ie, you could possibly sell these futures back at 3351.0, resulting in a 60 point loss

i.e. 25 AUD per contract

or $1,500 AUD

Open Position ValueAUD

SFE SPI 200 CONTRACT FUTURES 85,272

This is the sum of the value of all contracts per series at the traded price(s).


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Position Summary – Futures Options

Date

Open Position

Trade

Price

Current

Price

Curr

Market Revaluation

Option P&L or

Prem Value (*)

24MAR04

23APR04

SFE SPI 200 CONTACT 25 SFE

B 1 Jun04

NET +1 JUN04 3411.0

S      20 JUN04 3350.0 Call 17June

NET -20 Avg Sold 70.0

3411.0

70.0 

3351.0

48.0

AUD

AUD

-1500.00

“A”

11,000.00

11,000.00

0.00

“B”

35,000.00*

35,000.00

Where an amount is followed by the asterisk “*” sign, then this represents a futures style option. This implies that figure “B” represents the total value of the option and figure “A” represents the unrealized P&L or “difference” between the value of the option(s) at the traded price and the value of the option(s) at the at the end of day settlement price :

On 23 April 2004, 20 Jun 3350.0 Spi 200 Calls have been sold on the SFE market for 70 points


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Position Summary – Futures Options

Date

Open Position

Trade

Price

Current

Price

Curr

Market Revaluation

Option P&L or

Prem Value (*)

24MAR04

23APR04

SFE SPI 200 CONTACT 25 SFE

B 1 Jun04

NET +1 JUN04 3411.0

S      20 JUN04 3350.0 Call 17June

NET -20 Avg Sold 70.0

3411.0

70.0 

3351.0

48.0

AUD

AUD

-1500.00

“A”

11,000.00

11,000.00

0.00

“B”

35,000.00*

35,000.00

Options Position ValueAUD

SFE SPI 200 CONTRACT FUTURES 85,275

SFE SPI 200 CONTRACT OPTIONS 35,000

In this case, to exit out of the trade you can buy the options back at 48 points for a total P&L of AUD $11,000 being

70 points – 48 points = 22 points * AUD $25 per point * 20 contracts

This is the sum total of the open position value grouped by commodity, futures/option and currency


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Position Summary – Futures Options

Date

Open Position

Trade

Price

Current

Price

Curr

Market Revaluation

Option P&L or

Prem Value (*)

0.00

“B”

35,000.00*

35,000.00

24MAR04

23APR04

SFE SPI 200 CONTACT 25 SFE

B 1 Jun04

NET +1 JUN04 3411.0

S      20 JUN04 3350.0 Call 17June

NET -20 Avg Sold 70.0

3411.0

70.0 

3351.0

48.0

AUD

AUD

-1500.00

“A”

11,000.00

11,000.00

MARKET REVALUATION BREAKDOWN

Variation Margins – Fut and Fut Style Options Amount Profit/Loss

SPI – FUTURES AUD -1,500 -1,500

SPI – OPTIONS AUD 11,000 11,000

The Market Revaluation report is a summary of the Futures and Options profit and loss. For Futures and Futures style options, the unrealized Profit and loss is shown in both the amount and the P&L columns. These figures will also form part of the client Total Equity or “Above the line” margin amounts in the Account Financial Summary.


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Position Summary – Cash Options

On 14 April 2004, 2 JUN 3500 DAXO Putts have been sold on the EUREX market @ 25 points

To exit out of this trade you can buy these Calls back for 18 points. Resulting in a 7 point gain on 2 contracts @ 5 EUR per point being EUR 70.00

Options Position Value EUR

ERX DAXO Options 250

In this case, no * Symbol is present, meaning the figure represents unrealized Option profit and loss, i.e.. The difference between traded and closing price. In this case EUR 70.00.

This is the sum total of the open position value grouped by commodity and futures/option and currency @ the traded price(s)


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Position Summary - continued

Date

Open Position

Trade

Price

Current

Price

Cur

Market

Revaluation

Option P&L

Prem Value (*)

14APR04

DAX OPTIONS ON EUREX 10 ERX

S      2  JUN04 3500 Putt  17JUN

NET   -2 AVG SOLD 25.0

25.0

18.0

EUR

-180.00

-180.00

-70.00

-70.00

Market Revaluation

Total to Pay or receive back to exit positions – not including brokerage if traded at previous nights close

Market Revaluation BreakdownAmount Profit / Loss

Net Premium Options Market Value

DAXO Options EUR -180.00 70.00

As these options are Premium or “Cash” style options, the Value of the options @ the sale price (25 points or EUR 250.00) will be credited to the cash balance of the account, shown in the Account Financial Summary.

The Current Market Value (EUR -180.00 )will then be shown in the “For Information Only” section of the Account Financial Summary


Account financial summary l.jpg

AUD

EUR

NET AUD

(0.70230)

(1.20180)

(0.70230)

CASH BALANCE

-80.85

230.20

313.22

VARIATION MARGINS

- Futures

-1,500

- Options

11,000

TOTAL EQUITY

9,419.15

230.20

9,813.22

INITIAL MARGINS

-31,700

-1,080.00

-33,548.80

SECURITY

0.00

0.00

0.00

EXCESS/(SHORTAGE)

-22,280.85

-849.80

-23,735.60

Account Financial Summary

Cash Balance – Open Positions

Total Funds paid/received + Futures P&L + Option Premium + Brokerage + Interest

Variation Margins – Open Positions

Unrealised profit and loss. For Options, only “futures Style” like those trades on the SFE and NZFOE will be shown as above the line total Equity figures. All other options where premium is paid or received upfront are shown in the “for information only” section.

Total Equity – Open Positions

Value of account if all positions are closed for Futures and Futures Style Options. Not including brokerage on closing trades. Please note, if you hold Premium or Cash style options you will need to refer to Net Liquidating Value for the value of the account if all positions are closed.


Account financial summary continued l.jpg

AUD

EUR

NET AUD

(0.70230)

(1.20180)

(0.70230)

CASH BALANCE

-80.85

230.20

313.22

VARIATION MARGINS

- Futures

-1,500

- Options

11,000

TOTAL EQUITY

9,419.15

230.20

9,813.22

INITIAL MARGINS

-31,700

-1,080.00

-33,548.80

SECURITY

0.00

0.00

0.00

EXCESS/(SHORTAGE)

-22,280.85

-849.80

-23,735.60

Account Financial Summary Continued

Initial Margins – Open Positions

Security deposit required by exchange. In a change from previous reporting, Net premium Option Market Value and forward unrealised P&L on offshore exchanges can form part of initial margins.

Security – Open Positions

Security amounts lodged by client to cover “Initial Margins” only. Can be stock, currency etc. If no Security has been provided then this item will not appear on your statement

Excess / Shortage – Open Positions

Sum of Total Equity and Initial Margin. If security covers initial margin then Excess Shortage will equal Total Equity as the client has covered their initial margin requirement. Clients can draw down excess funds but must pay any Shortages.


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AUD

EUR

NET AUD

(0.70230)

(1.20180)

(0.70230)

CASH BALANCE

-80.85

230.20

313.22

VARIATION MARGINS

- Futures

-1,500

- Options

11,000

TOTAL EQUITY

9,419.15

230.20

9,813.22

INITIAL MARGINS

-31,700

-1,080.00

-33,548.80

SECURITY

0.00

0.00

0.00

EXCESS/(SHORTAGE)

-22,280.85

-849.80

-23,735.60

Account Financial Summary Continued

Forward Dated Journals – Open Positions

Adjustment Journals to be posted at a future date eg, average price adjustment, interest adjustment journals

Adjusted Excess/Shortage – Open Positions

Sum of Excess/Shortage + Adjustment Journals. For information only. Not to be paid/received.


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AUD

EUR

NET AUD

(0.70230)

(1.20180)

(0.70230)

CASH BALANCE

-80.85

230.20

313.22

VARIATION MARGINS

- Futures

-1,500

- Options

11,000

TOTAL EQUITY

9,419.15

230.20

9,813.22

INITIAL MARGINS

-31,700

-1,080.00

-33,548.80

SECURITY

0.00

0.00

0.00

EXCESS/(SHORTAGE)

-22,280.85

-849.80

-23,735.60

FOR INFORMATION ONLY

Net Premium Option Market Value

-180.00

Net Liquidating Value

9,419.15

50.2

9,505.44

Account Financial Summary Continued

FOR INFORMATION ONLY – Open Positions

The For Information Only section provides clients with information regarding, forward variation margins, Net premium Option market Value and NLV (Net Liquidating Value) - PRIMARILY OPTIONS ON OFFSHORE EXCHANGES.


Account financial summary continued15 l.jpg

AUD

EUR

NET AUD

(0.70230)

(1.20180)

(0.70230)

CASH BALANCE

-80.85

230.20

313.22

VARIATION MARGINS

- Futures

-1,500

- Options

11,000

TOTAL EQUITY

9,419.15

230.20

9,813.22

INITIAL MARGINS

-31,700

-1,080.00

-33,548.80

SECURITY

0.00

0.00

0.00

EXCESS/(SHORTAGE)

-22,280.85

-849.80

-23,735.60

FOR INFORMATION ONLY

Net Premium Option Market Value

-180.00

Net Liquidating Value

9,419.15

50.2

9,505.44

Account Financial Summary Continued

Forward Unrealised P&L – Open Positions

Unrealised profit and loss for markets that do not realise P&L until prompt dates,or pay interest on P&L till close eg, LME, OM

Net Premium Option Market Value – Open Positions

Current Market Value of options where premium is paid or received up front. Applies to most options contracts on on offshore exchanges.

Net Liquidating Value – Open Positions

Sum of Total Equity + Forward Unrealised P&L + Net Premium Option Market Value. Identifies the value of the account if all positions (offshore and SFE) are closed.


Account financial summary continued16 l.jpg

AUD

EUR

NET AUD

(0.70230)

(1.20180)

(0.70230)

CASH BALANCE

-80.85

230.20

313.22

VARIATION MARGINS

- Futures

-1,500

- Options

11,000

TOTAL EQUITY

9,419.15

230.20

9,813.22

INITIAL MARGINS

-31,700

-1,080.00

-33,548.80

SECURITY

0.00

0.00

0.00

EXCESS/(SHORTAGE)

-22,280.85

-849.80

-23,735.60

FOR INFORMATION ONLY

Net Premium Option Market Value

-180.00

Net Liquidating Value

9,419.15

50.2

9,505.44

Account Financial Summary Continued

Currency Conversion – Open Positions

As an account trades, all premiums, brokerage, P&L, interest etc are accumulated in the underlying currency of the commodity traded. This is totalled and reported in the base currency of the account (generally AUD).

N.B. No currency exposures are converted to AUD unless an explicit instruction has been received from the client. All currencies remain in the native currency until instruction is sent and confirmation of foreign exchange is received by the client


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Account Financial SummaryContinued

CUURENCY CONVERSION

As trades are taken on the various markets, premiums, brokerage, variation and initial margins are totaled in the underlying currency

These are detailed separately and then totaled to Australian dollars


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Business Done Today Cash Options

On 14 April 2004, 2 Jun 3500 Puts

have been sold on the DAX market

for 25 points

Resulting in a credit of 250 EUR

2 contracts x 25 points x 5 EUR

Business Done Today

EURO Dollars

Commission and GST are deducted

Balance is credited to EUR totals CASH BALANCE


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Business Done Today Futures

On 24 March 2004, 1 June Spi 200 Future has been bought on the SFE market @ 3411.0

Business Done Today

AUD Dollars

Commission and GST are deducted

Balance is debited to AUD totals CASH BALANCE


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Business Done Today Futures Style Options

On 23 April 2004, 20 June04 Spi 200 3350 Calls have been sold on the SFE market for 70pts

No option premium posted

Business Done Today

AUD Dollars

Date

Description

Bought

Price

Sold

Price

Commission

and Fees

Amount

Posted

23 APR04

BUSINESS DONE TODAY

SFE SPI 200 CONTRACT 25 SFE

S 20 JUN04 3350.0 Call 17JUN04     

Commission

70.0

77.00DR

77.00DR

TOTALS

BROUGHT FORWARD BALANCE

OPTIONS PREMIUM

TOTAL COMMISSIONS

Commissions excl GST

GST on Commissions

CARRIED FORWARD BALANCE

70.00 DR

7.00 DR

3.85DR

77.00 DR

80.85 CR

Commission and GST are deducted

Balance is credited to EUR totals CASH BALANCE


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Monthly Statement

At the end of each month the GST deducted in each currency during the month is converted to AUD

The end of month report should be kept for TAX purposes

CALCULATION

1.80 EUR x 1.831 = 3.29 AUD

MONTHLY ACCOUNT


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