PIB A5.4.3

An Authorised Firm must calculate its net open position in each currency, and in gold, by summing:

(a) the net spot position, being all asset items less all liability items, including accrued interest, denominated in the currency in question;
(b) the net forward position, being all amounts to be received less all amounts to be paid under forward foreign exchange transactions, including currency futures and the principal on currency swaps not included in the spot position;
(c) guarantees and similar instruments that are certain to be called and are likely to be irrecoverable;
(d) net future income/expenses not yet accrued but already fully hedged, at the discretion of the Authorised Firm; and
(e) any other item representing a profit or loss in Foreign Currencies.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]