HALIFAX FUTURES &
SECURITIES
Account Statements
Account Statement Explanation
There are five main areas
1. Account Details
•
Account Number
2.
3.
Position Summary
•
Futures
•
•
Futures Options
Cash Options
Account Financial Summary
•
Cash Balance
•
Variation Margin
•
Total Equity
•
Initial Margins
•
Security
•
Excess / (Shortage)
•
Forward Dated Journals
•
Adjusted Excess/Shortage
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.
6.
Business Done Today
Monthly Statement
•
Commissions & GST
Account Details
HALIFAX FUTURES AND SECURITIES
OPEN POSITION STATEMENT
Account Number
Must quote to broker each
time an order is placed
John Smith
1 Johnson St
Melbourne VIC 3000
MACQUARIE BANK LIMITED
Banking Institution where funds are
held
Account No: AA001
MACQUARIE BANK LIMITED
24 March 2004
COB Global
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
LEVEL 5, 1 MARTIN PLACE
SYDNEY NSW 2000
Enquiries (61-2) 8232 4037
Facsimile (61-2) 8232 4412
A.B.N. 46 008 583 542
Position Summary - Futures
Date
24MAR04
Open Position
SFE SPI 200 CONTRACT 25
SFE
B
1 JUN04
NET +1 JUN04 3411.0
Trade
Price
Current
Price
Curr
3411.0
3351.0
AUD
On 24 March 2004, 1 June Spi 200
has been bought @ 3411.0
Open Position Value
SFE SPI 200 CONTRACT
AUD
FUTURES
Market
Revaluation
Option P&L or
Prem Value (*)
-1,500.00
-1,500.00
0.00
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
85,272
This is the sum of the value of all contracts per series at the
traded price(s).
Position Summary – Futures Options
Date
24MAR04
23APR04
Open Position
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
On 23 April 2004, 20 Jun 3350.0 Spi
200 Calls have been sold on
the SFE market for 70 points
Trade
Price
Current
Price
Curr
Market
Revaluation
Option P&L
or
Prem Value
(*)
3411.0
3351.0
AUD
-1500.00
0.00
AUD
“A”
11,000.00
11,000.00
“B”
35,000.00*
35,000.00
70.0
48.0
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 :
Position Summary – Futures Options
Date
24MAR04
23APR04
Trade
Price
Curren
t
Price
3411.0
3351.0
Open Position
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
Options Position Value
70.0
48.0
Curr
Market
Revaluatio
n
Option P&L or
Prem Value
(*)
AUD
-1500.00
0.00
AUD
“A”
11,000.00
11,000.00
“B”
35,000.00*
35,000.00
AUD
SFE SPI 200 CONTRACT
FUTURES 85,275
SFE SPI 200 CONTRACT
OPTIONS 35,000
This is the sum total of the open position value
grouped by commodity, futures/option and currency
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
Position Summary – Futures Options
Date
24MAR04
23APR04
Open Position
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
Trade
Price
Curren
t
Price
Curr
Market
Revaluatio
n
3411.0
3351.0
AUD
-1500.00
0.00
AUD
“A”
11,000.00
11,000.00
“B”
35,000.00*
35,000.00
70.0
48.0
Option P&L or
Prem Value
(*)
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.
Position Summary – Cash Options
Date
Open Position
Trade
Price
14APR04
DAX OPTIONS ON EUREX 10 ERX
S 2 JUN04 3500.0 Putt 17JUN
NET –2 AVG SOLD 25.0
25.0
On 14 April 2004, 2 JUN 3500 DAXO
Putts have been sold on the
EUREX market @ 25 points
Current
Price
Curr
18.0
EUR
Market
Revaluation
Option P&L or
Prem Value
(*)
180.00
180.00
70.00
70.00
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
This is the sum total of the open position value
grouped by commodity and futures/option and
currency @ the traded price(s)
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.
Position Summary - continued
Date
14APR04
Open Position
DAX OPTIONS ON EUREX 10
ERX
S
2 JUN04 3500 Putt 17JUN
NET -2 AVG SOLD 25.0
Trade
Price
Current
Price
Cur
25.0
18.0
EUR
Market
Revaluation
Option P&L
Prem Value
(*)
-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 Breakdown
Amount
Profit / Loss
-180.00
70.00
Net Premium Options Market Value
DAXO Options
EUR
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
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.
CASH BALANCE
AUD
EUR
NET AUD
(0.70230)
(1.20180)
(0.70230)
-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
0.00
0.00
0.00
-22,280.85
-849.80
-23,735.60
SECURITY
EXCESS/(SHORTAGE)
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
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
CASH BALANCE
AUD
EUR
NET AUD
(0.70230)
(1.20180)
(0.70230)
-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
0.00
0.00
0.00
-22,280.85
-849.80
-23,735.60
SECURITY
EXCESS/(SHORTAGE)
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.
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.
CASH BALANCE
AUD
EUR
NET AUD
(0.70230)
(1.20180)
(0.70230)
-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
0.00
0.00
0.00
-22,280.85
-849.80
-23,735.60
SECURITY
EXCESS/(SHORTAGE)
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.
CASH BALANCE
VARIATION MARGINS
- Futures
- Options
TOTAL EQUITY
INITIAL MARGINS
SECURITY
EXCESS/(SHORTAGE)
FOR INFORMATION ONLY
Net Premium Option Market
Value
Net Liquidating Value
AUD
(0.70230)
-80.85
EUR
(1.20180)
230.20
NET AUD
(0.70230)
313.22
-1,500
11,000
9,419.15
-31,700
0.00
-22,280.85
230.20
-1,080.00
0.00
-849.80
9,813.22
-33,548.80
0.00
-23,735.60
-180.00
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.
CASH BALANCE
VARIATION MARGINS
- Futures
- Options
TOTAL EQUITY
INITIAL MARGINS
SECURITY
EXCESS/(SHORTAGE)
FOR INFORMATION ONLY
Net Premium Option Market
Value
Net Liquidating Value
AUD
(0.70230)
-80.85
EUR
(1.20180)
230.20
NET AUD
(0.70230)
313.22
-1,500
11,000
9,419.15
-31,700
0.00
-22,280.85
230.20
-1,080.00
0.00
-849.80
9,813.22
-33,548.80
0.00
-23,735.60
-180.00
9,419.15
50.2
9,505.44
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 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).
CASH BALANCE
VARIATION MARGINS
- Futures
- Options
TOTAL EQUITY
INITIAL MARGINS
SECURITY
EXCESS/(SHORTAGE)
FOR INFORMATION ONLY
Net Premium Option Market
Value
Net Liquidating Value
AUD
(0.70230)
-80.85
EUR
(1.20180)
230.20
NET AUD
(0.70230)
313.22
-1,500
11,000
9,419.15
-31,700
0.00
-22,280.85
230.20
-1,080.00
0.00
-849.80
9,813.22
-33,548.80
0.00
-23,735.60
-180.00
9,419.15
50.2
9,505.44
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
Account Financial Summary Continued
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
CASH BALANCE
AUD
EUR
USD
NET AUD
(0.5952)
(1.0678)
(1.0000)
(0.5952)
19,952.50
280.20
680.40
21598.33
-320.00
VARIATION MARGINS
- Eurex DAX Options
Options
-
- CME EURO FX Options
Options
-
-574.09
-312.50
-525.03
TOTAL EQUITY
19,952.50
-39.80
367.90
20499.21
INITIAL MARGINS
-
-1165.00
-842.00
-3504.69
19,952.50
-1204.80
-474.10
16994.52
EXCESS / (SHORTAGE)
Business Done Today Cash Options
On 14 April 2004, 2 Jun 3500 Puts
have been sold on the DAX market
for 25 points
Date
14APR04
Description
Resulting in a credit of 250
EUR
2 contracts x 25 points x 5
EUR
Business Done Today
EURO Dollars
BUSINESS DONE TODAY
DAX OPTIONS ON EUREX 10 ERX
S
2 JUN04 3500 Putts 17JUN
Commission
TOTALS
BROUGHT FORWARD BALANCE
OPTIONS PREMIUM
TOTAL COMMISSIONS
Commissions excl GST
GST on Commissions
Bought
Price
Sold
Price
25.0
Commission
and Fees
Amount
Posted
19.80 DR
250.00 CR
19.80 DR
18.00 DR
1.80 DR
CARRIED FORWARD BALANCE
0.00
250.00 CR
19.80 DR
230.20 CR
Commission and GST are
deducted
Balance is credited to EUR totals
CASH BALANCE
Business Done Today Futures
On 24 March 2004, 1 June Spi 200
Future has been bought on
the SFE market @ 3411.0
Date
24MAR04
Description
Business Done Today
AUD Dollars
BUSINESS DONE TODAY
SFE SPI 200 CONTRACT 25 SFE
B
1 JUN04
Commission
TOTALS
BROUGHT FORWARD BALANCE
OPTIONS PREMIUM
TOTAL COMMISSIONS
Commissions excl GST
GST on Commissions
Bought
Price
Sold
Price
Commission
and Fees
Amount
Posted
3.85 DR
3.85 DR
3411.0
3.50 DR
0.35 DR
CARRIED FORWARD BALANCE
0.00
0.00
3.85 DR
3.85 DR
Commission and GST are
deducted
Balance is debited to AUD totals
CASH BALANCE
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
Date
23 APR04
Description
No option premium posted
Business Done Today
AUD Dollars
Bought
Sold
BUSINESS DONE TODAY
SFE SPI 200 CONTRACT 25 SFE
S 20 JUN04 3350.0 Call 17JUN04
Commission
TOTALS
BROUGHT FORWARD BALANCE
OPTIONS PREMIUM
TOTAL COMMISSIONS
Commissions excl GST
GST on Commissions
Price
Price
Commission
and Fees
70.0
77.00DR
Amount
Posted
77.00DR
3.85DR
77.00 DR
70.00 DR
7.00 DR
CARRIED FORWARD BALANCE
80.85 CR
Commission and GST are
deducted
Balance is credited to EUR totals
Monthly Statement
MONTHLY ACCOUNT
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
AUD AUSTRALIAN DOLLAR
DATE
15 JAN 03
22 JAN 03
DESCRIPTION
DAILY
POSTING
GST
PAYABLE
TOTAL
GST CONVERSION FROM USD @ 0.550
GST CONVERSION FROM EUR @ 1.831
0.00 CR
0.00 CR
4.15 DR
3.29 DR
4.15 DR
3.29 DR
TOTALS
0.00 CR
0.00 DR
0.00 DR
DAILY
POSTING
GST
PAYABLE
TOTAL
COMMISSION
GST CONVERSION TO AUD
18.00 DR
0.00 CR
1.80 DR
1.80 CR
19.80 DR
1.80 CR
TOTALS
18.00 DR
0.00 CR
18.00 DR
EUR EURO
DATE
22 JAN 03
DESCRIPTION