Glossary term: Depot position

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Glossary term: Depot position

grampajohn
Administrator
I've been looking all over for a definition or use of this term outside
of Power TAC. I cannot find the term online, I cannot find it in either
the Stoft or Shahidehpour books, and it's not in the energy buyer's
glossary at http://www.energybuyer.org/GlossaryC-D.htm. I did finally
find a reference to the term in a paper by Wiles and van Brunt in
Transportation Research:
http://www.oresund.org/ecomobility/content/download/38819/239655/file/Optimal%20location%20of%20transshipment%20depots%20-%20Peter%20G%20Wiles%20and%20Bruce%20van%20Brunt.pdf

The word "position" would imply that it is the net import or export
commitment for a given timeslot, but the example given by Carsten seems
to be a transaction record. Could we call it the Market Transaction
Record or something like that? To me, a Market Position would be the net
of all transactions for a timeslot. This is what the DU needs to see for
balancing.

John
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Re: Glossary term: Depot position

Carsten Block
Administrator
Hi!

Thanks John, good point. We discussed it and finally decided to use "CashRecord" and "DepotRecord" as new names for the domain classes. A DepotRecord contains the actual booking difference together with the reason for this booking, the orignator, and the new "overall position", i.e. net balance.

Example: A buy order of "broker1" for 100 energy futures (Timeslot 06:00-07:00) is executed in the market for 10€ per future. The resulting records:
 
DepotRecord:  
  broker: 'broker1'
  product: 'future' (we currently only have futures, but sometimes might want to add e.g. options)
  timeslot: 06:00 - 07:00
  amount: +100
  balance: 100 (assuming that broker1 did not buy any futures for the timeslot before)
  description: "Execution of buy order 100@10EUR 06:00-07:00"
  transactionId: 123
  [...] (some more technical properties)
}

CashRecord:
 broker: 'broker1'
 amount: -1000
 balance: -1000 (assuming it was 0 before)
 description: "Execution of buy order 100@10EUR 06:00-07:00"
 transactionId: 123
}

Cheers,
Carsten

Am 13.12.2010 um 22:56 schrieb grampajohn [via Power TAC Developers]:

I've been looking all over for a definition or use of this term outside
of Power TAC. I cannot find the term online, I cannot find it in either
the Stoft or Shahidehpour books, and it's not in the energy buyer's
glossary at http://www.energybuyer.org/GlossaryC-D.htm. I did finally
find a reference to the term in a paper by Wiles and van Brunt in
Transportation Research:
http://www.oresund.org/ecomobility/content/download/38819/239655/file/Optimal%20location%20of%20transshipment%20depots%20-%20Peter%20G%20Wiles%20and%20Bruce%20van%20Brunt.pdf

The word "position" would imply that it is the net import or export
commitment for a given timeslot, but the example given by Carsten seems
to be a transaction record. Could we call it the Market Transaction
Record or something like that? To me, a Market Position would be the net
of all transactions for a timeslot. This is what the DU needs to see for
balancing.

John



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Re: Glossary term: Depot position

grampajohn
Administrator
Something has gone wrong with a mail system somewhere - see the first
couple of lines below ...

Anyway, I still don't know what a "depot" is in the context of power
systems or power markets. The dictionary says "A place of deposit for
the storing of goods; a warehouse; a storehouse." or "A railway
station." I'm sorry to be harping on this, but vocabulary is important;
this is a term that's going to be exposed to all our participants.

Also, I'm still looking for a concise way of finding out a broker's net
position for a timeslot without having to iterate through a bunch of
records each time. Where would I find this?

Thanks again -

John


On 12/15/2010 04:46 AM, Carsten Block [via Power TAC Developers] wrote:

> <html><head></head><body style="word-wrap: break-word;
> -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">Hi!
>
> Thanks John, good point. We discussed it and finally decided to use
> "CashRecord" and "DepotRecord" as new names for the domain classes. A
> DepotRecord contains the actual booking difference together with the
> reason for this booking, the orignator, and the new "overall position",
> i.e. net balance.
>
> Example: A buy order of "broker1" for 100 energy futures (Timeslot
> 06:00-07:00) is executed in the market for 10€ per future. The resulting
> records:
> DepotRecord:
> broker: 'broker1'
> product: 'future' (we currently only have futures, but sometimes might
> want to add e.g. options)
> timeslot: 06:00 - 07:00
> amount: +100
> balance: 100 (assuming that broker1 did not buy any futures for the
> timeslot before)
> description: "Execution of buy order 100@10EUR 06:00-07:00"
> transactionId: 123
> [...] (some more technical properties)
> }
>
> CashRecord:
> broker: 'broker1'
> amount: -1000
> balance: -1000 (assuming it was 0 before)
> description: "Execution of buy order 100@10EUR 06:00-07:00"
> transactionId: 123
> }
>
> Cheers,
> Carsten
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Re: Glossary term: Depot position

Carsten Block
Administrator
Hi John,

concerning point 1:
okay, let me try to clarify: We used depot because there is a German word "Aktiendepot" and probably we just translated it wrong (Wolf - ideas?). Anyway: http://dict.leo.org/forum/viewUnsolvedquery.php?idThread=121617&idForum=1&lp=ende&lang=de contains a discussion exactly about this topic.  Maybe "securities record" or  
"stock record" are better names? One "stock record" / "securities record"  indicates the change (and the new net balance) in products (energy futures) a specific broker possesses for a specifc timeslot. 

Concerning point 2: In the previous version we kept an "outdated" flag as pointer so that you could just search for that very record with "outdated=false" to get the latest balance for a broker. We can either keep it that way (it worked well) or we just search for the latest record (with correct table indexes, that is as the first approach).

Cheers,
Carsten


Am 15.12.2010 um 15:44 schrieb grampajohn [via Power TAC Developers]:

Something has gone wrong with a mail system somewhere - see the first
couple of lines below ...

Anyway, I still don't know what a "depot" is in the context of power
systems or power markets. The dictionary says "A place of deposit for
the storing of goods; a warehouse; a storehouse." or "A railway
station." I'm sorry to be harping on this, but vocabulary is important;
this is a term that's going to be exposed to all our participants.

Also, I'm still looking for a concise way of finding out a broker's net
position for a timeslot without having to iterate through a bunch of
records each time. Where would I find this?

Thanks again -

John


On 12/15/2010 04:46 AM, Carsten Block [via Power TAC Developers] wrote:

> <html><head></head><body style="word-wrap: break-word;
> -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">Hi!
>
> Thanks John, good point. We discussed it and finally decided to use
> "CashRecord" and "DepotRecord" as new names for the domain classes. A
> DepotRecord contains the actual booking difference together with the
> reason for this booking, the orignator, and the new "overall position",
> i.e. net balance.
>
> Example: A buy order of "broker1" for 100 energy futures (Timeslot
> 06:00-07:00) is executed in the market for 10€ per future. The resulting
> records:
> DepotRecord:
> broker: 'broker1'
> product: 'future' (we currently only have futures, but sometimes might
> want to add e.g. options)
> timeslot: 06:00 - 07:00
> amount: +100
> balance: 100 (assuming that broker1 did not buy any futures for the
> timeslot before)
> description: "Execution of buy order 100@10EUR 06:00-07:00"
> transactionId: 123
> [...] (some more technical properties)
> }
>
> CashRecord:
> broker: 'broker1'
> amount: -1000
> balance: -1000 (assuming it was 0 before)
> description: "Execution of buy order 100@10EUR 06:00-07:00"
> transactionId: 123
> }
>
> Cheers,
> Carsten



View message @ http://power-tac-developers.975333.n3.nabble.com/Glossary-term-Depot-position-tp2081718p2092382.html
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Re: Glossary term: Depot position

grampajohn
Administrator
On 12/15/2010 09:20 AM, Carsten Block [via Power TAC Developers] wrote:

> <html><head></head><body style="word-wrap: break-word;
> -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">Hi John,
>
> concerning point 1:
> okay, let me try to clarify: We used depot because there is a German
> word "Aktiendepot" and probably we just translated it wrong (Wolf -
> ideas?). Anyway:
> http://dict.leo.org/forum/viewUnsolvedquery.php?idThread=121617&idForum=1&lp=ende&lang=de
> <http://dict.leo.org/forum/viewUnsolvedquery.php?idThread=121617&idForum=1&lp=ende&lang=de>
> contains a discussion exactly about this topic. Maybe "securities
> record" or
> "stock record" are better names? One "stock record" / "securities
> record" indicates the change (and the new net balance) in products
> (energy futures) a specific broker possesses for a specifc timeslot.

A simpler, more descriptive term is "trade". That's what these are, I
think. I don't much like the term "stock" - it's too specific to a
securities trading context - we have more of a commodity trading
situation. And the net of a commodity-trader's trades is called a
"position".

>
> Concerning point 2: In the previous version we kept an "outdated" flag
> as pointer so that you could just search for that very record with
> "outdated=false" to get the latest balance for a broker. We can either
> keep it that way (it worked well) or we just search for the latest
> record (with correct table indexes, that is as the first approach).

I like this - especially given an underlying database for shared data.

John


>
> Cheers,
> Carsten
>
>
> Am 15.12.2010 um 15:44 schrieb grampajohn [via Power TAC Developers]:
>
>> Something has gone wrong with a mail system somewhere - see the first
>> couple of lines below ...
>>
>> Anyway, I still don't know what a "depot" is in the context of power
>> systems or power markets. The dictionary says "A place of deposit for
>> the storing of goods; a warehouse; a storehouse." or "A railway
>> station." I'm sorry to be harping on this, but vocabulary is important;
>> this is a term that's going to be exposed to all our participants.
>>
>> Also, I'm still looking for a concise way of finding out a broker's net
>> position for a timeslot without having to iterate through a bunch of
>> records each time. Where would I find this?
>>
>> Thanks again -
>>
>> John
>>
>>
>> On 12/15/2010 04:46 AM, Carsten Block [via Power TAC Developers] wrote:
>>
>> > <html><head></head><body style="word-wrap: break-word;
>> > -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">Hi!
>> >
>> > Thanks John, good point. We discussed it and finally decided to use
>> > "CashRecord" and "DepotRecord" as new names for the domain classes. A
>> > DepotRecord contains the actual booking difference together with the
>> > reason for this booking, the orignator, and the new "overall position",
>> > i.e. net balance.
>> >
>> > Example: A buy order of "broker1" for 100 energy futures (Timeslot
>> > 06:00-07:00) is executed in the market for 10€ per future. The
>> resulting
>> > records:
>> > DepotRecord:
>> > broker: 'broker1'
>> > product: 'future' (we currently only have futures, but sometimes might
>> > want to add e.g. options)
>> > timeslot: 06:00 - 07:00
>> > amount: +100
>> > balance: 100 (assuming that broker1 did not buy any futures for the
>> > timeslot before)
>> > description: "Execution of buy order 100@10EUR 06:00-07:00"
>> > transactionId: 123
>> > [...] (some more technical properties)
>> > }
>> >
>> > CashRecord:
>> > broker: 'broker1'
>> > amount: -1000
>> > balance: -1000 (assuming it was 0 before)
>> > description: "Execution of buy order 100@10EUR 06:00-07:00"
>> > transactionId: 123
>> > }
>> >
>> > Cheers,
>> > Carsten
>>
>>
>> ------------------------------------------------------------------------
>> View message @
>> http://power-tac-developers.975333.n3.nabble.com/Glossary-term-Depot-position-tp2081718p2092382.html
>> <http://power-tac-developers.975333.n3.nabble.com/Glossary-term-Depot-position-tp2081718p2092382.html?by-user=t>
>> To start a new topic under Power TAC Developers, email [hidden email]
>> </user/SendEmail.jtp?type=node&node=2092547&i=0>
>> To unsubscribe from Power TAC Developers, click here
>> <
>
>
> </body></html>
>
> ------------------------------------------------------------------------
> View message @
>
http://power-tac-developers.975333.n3.nabble.com/Glossary-term-Depot-position-tp2081718p2092547.html
> To start a new topic under Power TAC Developers, email
> [hidden email]
> To unsubscribe from Power TAC Developers, click here
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Re: Glossary term: Depot position

Carsten Block
Administrator
But a trade has a very specific meaning too. A trade is the public announcement of an order execution. It always carries a price and the amount of stocks traded. We designed the complete domain model together with our finance guys so that is fits to the Reuters model. The reason: We can than use their nice an shiny econometrics toolkits to analyze our data.

think. I don't much like the term "stock" - it's too specific to a 
securities trading context - we have more of a commodity trading 
...but that's exactly what it is. We are buying and selling futures! :) And by the way: The EEX stock exchange uses exactly the same software as the Deutsche Börse: Xetra.  

So tradeRecord is not possible as we already have this domain object with a different well defined meaning. What's left? Prashant, how would you call it? You probably have the most practical experience in this field.

Cheers,
Carsten


Am 15.12.2010 um 16:40 schrieb grampajohn [via Power TAC Developers]:

On 12/15/2010 09:20 AM, Carsten Block [via Power TAC Developers] wrote:

> <html><head></head><body style="word-wrap: break-word;
> -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">Hi John,
>
> concerning point 1:
> okay, let me try to clarify: We used depot because there is a German
> word "Aktiendepot" and probably we just translated it wrong (Wolf -
> ideas?). Anyway:
> http://dict.leo.org/forum/viewUnsolvedquery.php?idThread=121617&idForum=1&lp=ende〈=de
> <http://dict.leo.org/forum/viewUnsolvedquery.php?idThread=121617&idForum=1&lp=ende〈=de>
> contains a discussion exactly about this topic. Maybe "securities
> record" or
> "stock record" are better names? One "stock record" / "securities
> record" indicates the change (and the new net balance) in products
> (energy futures) a specific broker possesses for a specifc timeslot.
A simpler, more descriptive term is "trade". That's what these are, I
think. I don't much like the term "stock" - it's too specific to a
securities trading context - we have more of a commodity trading
situation. And the net of a commodity-trader's trades is called a
"position".

>
> Concerning point 2: In the previous version we kept an "outdated" flag
> as pointer so that you could just search for that very record with
> "outdated=false" to get the latest balance for a broker. We can either
> keep it that way (it worked well) or we just search for the latest
> record (with correct table indexes, that is as the first approach).

I like this - especially given an underlying database for shared data.

John


>
> Cheers,
> Carsten
>
>
> Am 15.12.2010 um 15:44 schrieb grampajohn [via Power TAC Developers]:
>
>> Something has gone wrong with a mail system somewhere - see the first
>> couple of lines below ...
>>
>> Anyway, I still don't know what a "depot" is in the context of power
>> systems or power markets. The dictionary says "A place of deposit for
>> the storing of goods; a warehouse; a storehouse." or "A railway
>> station." I'm sorry to be harping on this, but vocabulary is important;
>> this is a term that's going to be exposed to all our participants.
>>
>> Also, I'm still looking for a concise way of finding out a broker's net
>> position for a timeslot without having to iterate through a bunch of
>> records each time. Where would I find this?
>>
>> Thanks again -
>>
>> John
>>
>>
>> On 12/15/2010 04:46 AM, Carsten Block [via Power TAC Developers] wrote:
>>
>> > <html><head></head><body style="word-wrap: break-word;
>> > -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">Hi!
>> >
>> > Thanks John, good point. We discussed it and finally decided to use
>> > "CashRecord" and "DepotRecord" as new names for the domain classes. A
>> > DepotRecord contains the actual booking difference together with the
>> > reason for this booking, the orignator, and the new "overall position",
>> > i.e. net balance.
>> >
>> > Example: A buy order of "broker1" for 100 energy futures (Timeslot
>> > 06:00-07:00) is executed in the market for 10€ per future. The
>> resulting
>> > records:
>> > DepotRecord:
>> > broker: 'broker1'
>> > product: 'future' (we currently only have futures, but sometimes might
>> > want to add e.g. options)
>> > timeslot: 06:00 - 07:00
>> > amount: +100
>> > balance: 100 (assuming that broker1 did not buy any futures for the
>> > timeslot before)
>> > description: "Execution of buy order 100@10EUR 06:00-07:00"
>> > transactionId: 123
>> > [...] (some more technical properties)
>> > }
>> >
>> > CashRecord:
>> > broker: 'broker1'
>> > amount: -1000
>> > balance: -1000 (assuming it was 0 before)
>> > description: "Execution of buy order 100@10EUR 06:00-07:00"
>> > transactionId: 123
>> > }
>> >
>> > Cheers,
>> > Carsten
>>
>>
>> ------------------------------------------------------------------------
>> View message @
>> http://power-tac-developers.975333.n3.nabble.com/Glossary-term-Depot-position-tp2081718p2092382.html
>> <http://power-tac-developers.975333.n3.nabble.com/Glossary-term-Depot-position-tp2081718p2092382.html?by-user=t>
>> To start a new topic under Power TAC Developers, email [hidden email]
>> </user/SendEmail.jtp?type=node&node=2092547&i=0>
>> To unsubscribe from Power TAC Developers, click here
>> <
>
>
> </body></html>
>
> ------------------------------------------------------------------------
> View message @
>
http://power-tac-developers.975333.n3.nabble.com/Glossary-term-Depot-position-tp2081718p2092547.html
> To start a new topic under Power TAC Developers, email
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Re: Glossary term: Depot position

Prashant Reddy

Hi all,

[The Internet at my in-laws' place is down so I'm typing this out in my phone -- please excuse the typos and terseness.]

Maybe the term you're looking for is 'PositionUpdate'?  

It could be called a Trade, TradeReport, or TradeExecution only if it didn't have the resulting net position information in it.  

It's not completely clear to me how this domain object is used (unable to browse github now).  If it's communicated from the AccountingService to the Broker, then PositionUpdate makes sense.  If it's between any other entities, it should not have net position information and would therefore just be a TradeReport. 

The term Position is confusing because from an accounting perspective it usually implies net position, but from a trade or exchange perspective it can also be used to describe one side of the trade.  "after a whole bunch of trades my current position is ..." versus "i took a short position on a big trade this afternoon".

In accounting, they often refer to "positions and balances" where balances refer to cash positions, so you could also use CashBalanceUpdate instead of CashRecord for symmetry?

I hope that makes sense?  

Cheers,
Prashant



On Dec 15, 2010, at 10:59 AM, "Carsten Block [via Power TAC Developers]"<[hidden email]> wrote:

<html><head></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">But a trade has a very specific meaning too. A trade is the public announcement of an order execution. It always carries a price and the amount of stocks traded. We designed the complete domain model together with our finance guys so that is fits to the Reuters model. The reason: We can than use their nice an shiny econometrics toolkits to analyze our data.

think. I don't much like the term "stock" - it's too specific to a 
securities trading context - we have more of a commodity trading 
...but that's exactly what it is. We are buying and selling futures! :) And by the way: The EEX stock exchange uses exactly the same software as the Deutsche Börse: Xetra.  

So tradeRecord is not possible as we already have this domain object with a different well defined meaning. What's left? Prashant, how would you call it? You probably have the most practical experience in this field.

Cheers,
Carsten


Am 15.12.2010 um 16:40 schrieb grampajohn [via Power TAC Developers]:

On 12/15/2010 09:20 AM, Carsten Block [via Power TAC Developers] wrote:

> <html><head></head><body style="word-wrap: break-word;
> -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">Hi John,
>
> concerning point 1:
> okay, let me try to clarify: We used depot because there is a German
> word "Aktiendepot" and probably we just translated it wrong (Wolf -
> ideas?). Anyway:
> http://dict.leo.org/forum/viewUnsolvedquery.php?idThread=121617&idForum=1&lp=ende〈=de
> <http://dict.leo.org/forum/viewUnsolvedquery.php?idThread=121617&idForum=1&lp=ende〈=de>
> contains a discussion exactly about this topic. Maybe "securities
> record" or
> "stock record" are better names? One "stock record" / "securities
> record" indicates the change (and the new net balance) in products
> (energy futures) a specific broker possesses for a specifc timeslot.
A simpler, more descriptive term is "trade". That's what these are, I
think. I don't much like the term "stock" - it's too specific to a
securities trading context - we have more of a commodity trading
situation. And the net of a commodity-trader's trades is called a
"position".

>
> Concerning point 2: In the previous version we kept an "outdated" flag
> as pointer so that you could just search for that very record with
> "outdated=false" to get the latest balance for a broker. We can either
> keep it that way (it worked well) or we just search for the latest
> record (with correct table indexes, that is as the first approach).

I like this - especially given an underlying database for shared data.

John


>
> Cheers,
> Carsten
>
>
> Am 15.12.2010 um 15:44 schrieb grampajohn [via Power TAC Developers]:
>
>> Something has gone wrong with a mail system somewhere - see the first
>> couple of lines below ...
>>
>> Anyway, I still don't know what a "depot" is in the context of power
>> systems or power markets. The dictionary says "A place of deposit for
>> the storing of goods; a warehouse; a storehouse." or "A railway
>> station." I'm sorry to be harping on this, but vocabulary is important;
>> this is a term that's going to be exposed to all our participants.
>>
>> Also, I'm still looking for a concise way of finding out a broker's net
>> position for a timeslot without having to iterate through a bunch of
>> records each time. Where would I find this?
>>
>> Thanks again -
>>
>> John
>>
>>
>> On 12/15/2010 04:46 AM, Carsten Block [via Power TAC Developers] wrote:
>>
>> > <html><head></head><body style="word-wrap: break-word;
>> > -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">Hi!
>> >
>> > Thanks John, good point. We discussed it and finally decided to use
>> > "CashRecord" and "DepotRecord" as new names for the domain classes. A
>> > DepotRecord contains the actual booking difference together with the
>> > reason for this booking, the orignator, and the new "overall position",
>> > i.e. net balance.
>> >
>> > Example: A buy order of "broker1" for 100 energy futures (Timeslot
>> > 06:00-07:00) is executed in the market for 10€ per future. The
>> resulting
>> > records:
>> > DepotRecord:
>> > broker: 'broker1'
>> > product: 'future' (we currently only have futures, but sometimes might
>> > want to add e.g. options)
>> > timeslot: 06:00 - 07:00
>> > amount: +100
>> > balance: 100 (assuming that broker1 did not buy any futures for the
>> > timeslot before)
>> > description: "Execution of buy order 100@10EUR 06:00-07:00"
>> > transactionId: 123
>> > [...] (some more technical properties)
>> > }
>> >
>> > CashRecord:
>> > broker: 'broker1'
>> > amount: -1000
>> > balance: -1000 (assuming it was 0 before)
>> > description: "Execution of buy order 100@10EUR 06:00-07:00"
>> > transactionId: 123
>> > }
>> >
>> > Cheers,
>> > Carsten
>>
>>
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Re: Glossary term: Depot position

JDcosta
In reply to this post by grampajohn

     
grampajohn wrote
  "... we have more of a commodity trading
situation. And the net of a commodity-trader's trades is called a
"position".  "
Interestingly, in so far as some of the terms under discussion are concerned, their usage in trade (see U.S. Commodity Futures Trading Commission's glossary) would suggest:

Open Interest: The total number of futures contracts long or short in a delivery month or market that has been entered into and not yet liquidated by an offsetting transaction or fulfilled by delivery. Also called open contracts or open commitments. (emphasis supplied)

Position: An interest in the market, either long or short, in the form of one or more open contracts. (emphasis supplied). In the context of the simulation, would a contract be open during the negotiation phase when the contract is entered into and until it is liquidated in a relevant execution phase subsequent to the negotiation phase?

Long: (1) One who has bought a futures contract to establish a market position; (2) a market position that obligates the holder to take delivery; (3) one who owns an inventory of commodities.  

Short: (1) The selling side of an open futures contract; (2) a trader whose net position in the futures market shows an excess of open sales over open purchases. (emphasis supplied)

Trader: (1) A merchant involved in cash commodities; (2) a professional speculator who trades for his own account and who typically holds exchange trading privileges.

Speculator: In commodity futures, a trader who does not hedge, but who trades with the objective of achieving profits through the successful anticipation of price movements.

Broker: A person paid a fee or commission for executing buy or sell orders for a customer. In commodity futures trading, the term may refer to: (1) Floor broker, a person who actually executes orders on the trading floor of an exchange; (2) Account executive or associated person,  the person who deals with customers in the offices of futures commission merchants; or (3) the futures commission merchant.

Net Position: The difference between the open long contracts and the open short contracts held by a trader in any one commodity. (emphasis supplied)

Security: Generally, a transferable instrument representing an ownership interest in a corporation (equity security or stock) or the debt of a corporation, municipality, or sovereign. (emphasis supplied)

P&S (Purchase and Sale Statement): A statement sent by a futures commission merchant to a customer when any part of a futures position is offset, showing the number of contracts involved, the prices at which the contracts were bought or sold, the gross profit or loss, the commission charges, the net profit or loss on the transactions, and the balance. (all the contracts referred to in the P&S are no longer open and therefore, in the language of the commodities industry, the P&S (or an equivalent accounting term that essentially denominates "settlement" and/or "billing") is unlikely to reflect a trader's "position"  because the terms position and net position imply open (i.e. not yet liquidated) contracts)

JDcosta
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Re: Glossary term: Depot position

Carsten Block
Administrator
Hi everybody!

thanks for all the ideas and definition lookups. Very good and very appreciated!!
After all, we decided to go with Prashant's idea and call the domain classes "PositionUpdate" and "CashUpdate" respectively (we found that the "Balance" in CashBalanceUpdate was not adding to much information).

Thanks,
Carsten


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Re: Glossary term: Depot position

grampajohn
Administrator
On 12/17/2010 04:29 AM, Carsten Block [via Power TAC Developers] wrote:
> Hi everybody!
>
> thanks for all the ideas and definition lookups. Very good and very
> appreciated!!
> After all, we decided to go with Prashant's idea and call the domain
> classes "PositionUpdate" and "CashUpdate" respectively (we found that
> the "Balance" in CashBalanceUpdate was not adding to much information).

Very good. This is a nice outcome.

John
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