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HALIFAX FUTURES & SECURITIES Account Statements. Account Statement Explanation There are five main areas 1. Account Details Account NumberAccount Number.

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Presentation on theme: "HALIFAX FUTURES & SECURITIES Account Statements. Account Statement Explanation There are five main areas 1. Account Details Account NumberAccount Number."— Presentation transcript:

1 HALIFAX FUTURES & SECURITIES Account Statements

2 Account Statement Explanation There are five main areas 1. Account Details Account NumberAccount Number 2. Position Summary FuturesFutures Futures OptionsFutures Options Cash OptionsCash Options 3.Account Financial Summary Cash BalanceCash Balance Variation MarginVariation Margin Total EquityTotal Equity Initial MarginsInitial Margins SecuritySecurity Excess / (Shortage)Excess / (Shortage) Forward Dated JournalsForward Dated Journals Adjusted Excess/ShortageAdjusted Excess/Shortage

3 Account Statement Explanation 4. Account Financial Summary - Continued FOR INFORMATION ONLYFOR INFORMATION ONLY Forward Unrealized P&LForward Unrealized P&L Net Premium Option Market ValueNet Premium Option Market Value Net Liquidating Value (NLV)Net Liquidating Value (NLV) 5.Business Done Today 6.Monthly Statement Commissions & GSTCommissions & GST

4 Account Details HALIFAX FUTURES AND SECURITIES OPEN POSITION STATEMENT John Smith 1 Johnson St Melbourne VIC 3000 Account No: AA March 2004 COB Global MACQUARIE BANK LIMITED LEVEL 5, 1 MARTIN PLACE SYDNEY NSW 2000 Enquiries (61-2) Facsimile (61-2) A.B.N Account Number Must quote to broker each time an order is placed 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 MACQUARIE BANK LIMITED Banking Institution where funds are held

5 Position Summary - Futures Date Open Position TradePriceCurrentPriceCurr Market Revaluation Option P&L or Prem Value (*) 24MAR04 SFE SPI 200 CONTRACT 25 SFE B 1 JUN04 B 1 JUN04 NET +1 JUN AUD-1, , On 24 March 2004, 1 June Spi 200 has been 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 , resulting in a 60 point loss i.e. 25 AUD per contract or $1,500 AUD Open Position ValueAUD SFE SPI 200 CONTRACT FUTURES85,272 This is the sum of the value of all contracts per series at the traded price(s).

6 Position Summary – Futures Options 0.00 B35,000.00*35, A11, , AUDAUD SFE SPI 200 CONTACT 25 SFE B 1 Jun04 NET +1 JUN S 20 JUN Call 17June S 20 JUN Call 17June NET -20 Avg Sold MAR0423APR04 Option P&L or Prem Value (*) Market Revaluation CurrCurrentPriceTradePrice Open Position Date On 23 April 2004, 20 Jun Spi 200 Calls have been sold on the SFE market for 70 points 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 :

7 Position Summary – Futures Options 0.00 B35,000.00*35, A11, , AUDAUD SFE SPI 200 CONTACT 25 SFE B 1 Jun04 NET +1 JUN S 20 JUN Call 17June S 20 JUN Call 17June NET -20 Avg Sold MAR0423APR04 Option P&L or Prem Value (*) Market Revaluatio n Curr Curren t PriceTradePrice Open Position Date 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 Options Position ValueAUD SFE SPI 200 CONTRACT FUTURES 85,275 SFE SPI 200 CONTRACT OPTIONS35,000 This is the sum total of the open position value grouped by commodity, futures/option and currency

8 Position Summary – Futures Options 0.00 B35,000.00*35, A11, , AUDAUD SFE SPI 200 CONTACT 25 SFE B 1 Jun04 NET +1 JUN S 20 JUN Call 17June S 20 JUN Call 17June NET -20 Avg Sold MAR0423APR04 Option P&L or Prem Value (*) Market Revaluatio n Curr Curren t PriceTradePrice Open Position Date MARKET REVALUATION BREAKDOWN Variation Margins – Fut and Fut Style Options AmountProfit/Loss SPI – FUTURESAUD-1,500-1,500 SPI – OPTIONSAUD11,00011,000 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.

9 Position Summary – Cash Options Date Open Position TradePriceCurrentPriceCurr Market Revaluation Option P&L or Prem Value (*) 14APR04 DAX OPTIONS ON EUREX 10 ERX S 2 JUN Putt 17JUN S 2 JUN Putt 17JUN NET –2 AVG SOLD EUR On 14 April 2004, 2 JUN 3500 DAXO Putts have been sold on the EUREX 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 5 EUR per point being EUR Options Position ValueEUR 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 This is the sum total of the open position value grouped by commodity and futures/option and the traded price(s)

10 Position Summary - continued EUR DAX OPTIONS ON EUREX 10 ERX S 2 JUN Putt 17JUN S 2 JUN Putt 17JUN NET -2 AVG SOLD APR04 Option P&L Prem Value (*) MarketRevaluationCurCurrentPriceTradePrice Open Position Date Market Revaluation BreakdownAmountProfit / Loss Net Premium Options Market Value DAXO Options EUR Market Revaluation Total to Pay or receive back to exit positions – not including brokerage if traded at previous nights close As these options are Premium or Cash style options, the Value of the the sale price (25 points or EUR ) will be credited to the cash balance of the account, shown in the Account Financial Summary. The Current Market Value (EUR )will then be shown in the For Information Only section of the Account Financial Summary

11 Account Financial Summary -23, ,280.85EXCESS/(SHORTAGE) -1,500 - Futures NET AUD EURAUD , , ( ) SECURITY -1, ,700 INITIAL MARGINS , TOTAL EQUITY ( ) 11,000 - Options VARIATION MARGINS CASH BALANCE ( ) 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.

12 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. -23, ,280.85EXCESS/(SHORTAGE) -1,500 - Futures NET AUD EURAUD , , ( ) SECURITY -1, ,700 INITIAL MARGINS , TOTAL EQUITY ( ) 11,000 - Options VARIATION MARGINS CASH BALANCE ( )

13 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. -23, ,280.85EXCESS/(SHORTAGE) -1,500 - Futures NET AUD EURAUD , , ( ) SECURITY -1, ,700 INITIAL MARGINS , TOTAL EQUITY ( ) 11,000 - Options VARIATION MARGINS CASH BALANCE ( )

14 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. 9, , Net Liquidating Value Net Premium Option Market Value FOR INFORMATION ONLY -23, ,280.85EXCESS/(SHORTAGE) -1,500 - Futures NET AUD EURAUD , , ( ) SECURITY -1, ,700 INITIAL MARGINS , TOTAL EQUITY ( ) 11,000 - Options VARIATION MARGINS CASH BALANCE ( )

15 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. 9, , Net Liquidating Value Net Premium Option Market Value FOR INFORMATION ONLY -23, ,280.85EXCESS/(SHORTAGE) -1,500 - Futures NET AUD EURAUD , , ( ) SECURITY -1, ,700 INITIAL MARGINS , TOTAL EQUITY ( ) 11,000 - Options VARIATION MARGINS CASH BALANCE ( )

16 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 9, , Net Liquidating Value Net Premium Option Market Value FOR INFORMATION ONLY -23, ,280.85EXCESS/(SHORTAGE) -1,500 - Futures NET AUD EURAUD , , ( ) SECURITY -1, ,700 INITIAL MARGINS , TOTAL EQUITY ( ) 11,000 - Options VARIATION MARGINS CASH BALANCE ( )

17 Account Financial Summary Continued AUDEURUSD NET AUD (0.5952)(1.0678)(1.0000)(0.5952) CASH BALANCE 19, VARIATION MARGINS - Eurex DAX Options Options CME EURO FX Options Options TOTAL EQUITY 19, INITIAL MARGINS EXCESS / (SHORTAGE) 19, 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

18 Business Done Today Cash Options Business Done Today EURO Dollars Date Description BoughtPriceSoldPriceCommission and Fees AmountPosted 14APR04 BUSINESS DONE TODAY DAX OPTIONS ON EUREX 10 ERX S 2 JUN Putts 17JUN S 2 JUN Putts 17JUNCommission DR CR DR TOTALS BROUGHT FORWARD BALANCE OPTIONS PREMIUM TOTAL COMMISSIONS Commissions excl GST GST on Commissions CARRIED FORWARD BALANCE DR 1.80 DR CR DR CR 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 Commission and GST are deducted Balance is credited to EUR totals CASH BALANCE

19 Business Done Today Futures Business Done Today AUD Dollars Date Description BoughtPriceSoldPriceCommission and Fees AmountPosted 24MAR04 BUSINESS DONE TODAY SFE SPI 200 CONTRACT 25 SFE B 1 JUN04 B 1 JUN04Commission DR TOTALS BROUGHT FORWARD BALANCE OPTIONS PREMIUM TOTAL COMMISSIONS Commissions excl GST GST on Commissions CARRIED FORWARD BALANCE 3.50 DR 0.35 DR DR On 24 March 2004, 1 June Spi 200 Future has been bought on the SFE Commission and GST are deducted Balance is debited to AUD totals CASH BALANCE

20 Business Done Today Futures Style Options Business Done Today AUD Dollars 3.85DR 3.85DR DR CR DR 7.00 DR 7.00 DRTOTALS BROUGHT FORWARD BALANCE OPTIONS PREMIUM TOTAL COMMISSIONS Commissions excl GST GST on Commissions CARRIED FORWARD BALANCE 77.00DR77.00DR70.0 BUSINESS DONE TODAY SFE SPI 200 CONTRACT 25 SFE S 20 JUN Call 17JUN04 S 20 JUN Call 17JUN04 Commission 23 APR04 AmountPostedCommission and Fees SoldPriceBoughtPriceDescription Date On 23 April 2004, 20 June04 Spi Calls have been sold on the SFE market for 70pts No option premium posted Commission and GST are deducted Balance is credited to EUR totals CASH BALANCE

21 Monthly Statement MONTHLY ACCOUNT AUD AUSTRALIAN DOLLAR DATE DESCRIPTION DAILY POSTING GSTPAYABLETOTAL 15 JAN JAN 03 GST CONVERSION FROM GST CONVERSION FROM TOTALS 0.00 CR 4.15 DR 3.29 DR 0.00 DR 4.15 DR 3.29 DR 0.00 DR EUR EURO DATE DESCRIPTION DAILY POSTING GSTPAYABLETOTAL 22 JAN 03 COMMISSION GST CONVERSION TO AUD TOTALS DR 0.00 CR DR 1.80 DR 1.80 CR 0.00 CR DR 1.80 CR DR 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 = 3.29 AUD


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