Trading Operations - Positions
Position Management
Position servers in MFX Compass track both open positions and realised PnL from closed positions. This data is critical as it feeds the risk model which drives hedging and PnL/risk metrics. The Positions Management screen in the Compass dashboard provides a view of this data.
Position vs TradePosition
Compass tracks positions in two ways:
- Position (by asset/currency) - e.g. XAU and USD Positions would be generated from a XAU/USD trade:
- TradePosition (by instrument) - e.g. a XAUUSD TradePosition would be generated from a XAU/USD trade:
The Position view is effectively an aggregation of the TradePosition view which breaks trades apart into the base/counter legs. Compass internally reconciles these two views to ensure that they remain consistent. Compass risk models are primarily driven by the Position view.
The TradePosition view is further broken down by market, allowing positions by LP/ECN to be displayed.
Note: Equivalent Position, displayed in the Compass GUI Trading Overview is an optimal hedge quantity derived from a covariance-aware risk model and is not the true open position as above.
Position History
The Position History window shows the impact caused to each book from trades and manual cash adjustments. Trades are split up into their individual currency amounts and apportioned to each necessary book for position keeping. This also serves as a useful log for monitoring any manual adjustments.
Next see: Trading Operations - Market Data | Trading Operations - Order History | Trading Operations - Prices and Orders
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