Tag Archives: positions

Position Check

Section A: Your Positions

1. What is a position?
• Shares of a stock or option that you have bought or shorted with your account’s funds.

2. What are morning positions and current positions?
• Morning positions are carried over from the previous trading day, current positions are positions you currently hold.
• Current Position = Morning Position + Today’s Buys – Today’s Sells

3. How do I close/cover a position?
• Right click on the position in the Positions window, then select Montage. In the Montage window, once the order information is entered correctly, click Sell to close a long position, or Buy to close a short position.

4. Why do the clearing firm and DAS Trader Pro have different information about my positions?
• The clearing firm may have adjusted or closed a position outside of the DAS Trader system. This may be caused by a trade break or other reasons.
• The End of Day file did not make it to the clearing firm, this can be caused by various issues. It is best to confer with DAS or the clearing firm directly about this.
• The clearing firm may not have sent the Beginning of Day files to DAS which contain the most current positions information.

5. When we use the Position Check feature, should we compare current positions?
• No, you must use morning positions file as your traders may have already traded today.

Section B: How to Use the Position Check Feature in DAS

6. How do you do a Position Check?
• On the menu bar, click Admin then Position Check. Load the position file using the correct “Compare” button. Then using the three sections which are labeled “Position mismatches,” “Positions only found in System (meaning DAS),” and “Positions only found in file,” and using your knowledge as the broker or administrator, you can select positions to insert, delete, or update.

7. Where I get the positions file from ETC?
• You can download it from the ETC ftp site.

8. Where I get file from IBOSS?
• You can ask DAS to pass this file to you.

9. What are the positions that DAS has?
• These are positions that carried over from the previous day. Because a broker, administrator, or the clearing firm may flatten or adjust a position overnight, the positions that the clearing firm has are the correct ones.

10. What are the position mismatches?
• It is when the positions from the two different sources have different numbers for shares or average cost.

Positions Manager

Position Manager 1

Filters: Use any or all of the criteria to search for positions. Leave all blank, then click Filter to see all positions currently held by your firm.

Br#: Branch

Symb: Symbol, it can be for equities, options, or futures. Currently, you will need to know the exact options or futures symbol to search for it.

Type: Search for symbols by what type of account it is in.

Trader: Search by who traded the symbol.

Acct#: Search by account.

Closed Position: Check to see positions that have already been closed.

COLUMNS

Account: The account number.

Symbol: The Security symbol.

Type: Margin or Cash

InitShare: The number of shares held at the start of the current day.

Shares: The current number of shares being held.

Branch: Branch where the account is located.

AvgCost: The current average cost of the security.

Realized: Realized P&L – If a portion of a currently held position was liquidated today.

UnRealized: Unrealized P&L if the current position was liquidated at current market prices.

Bid/Ask: Real time Level I quote. Not Dynamic. Click Filter to refresh.

HoldBp: Buying power not yet released.

Position Manager 2

ADDING A POSITION

Double left click anywhere on the left side of the Position Manager, opening the Position

Edit window. If there is data in the window, click New. Enter the following data:

Account: The account number.

Secsym: The Security symbol.

Type: Cash, Margin or Short account.

Init Shares: Enter the number of shares.

Init Price: Enter the security price (actual purchase price, if known).

Click Commit when all information for the position is entered.

View only info:

Shares: The current number of shares being held.

AvgCost: The current average cost of the security.

Create: The date the original position was entered.

Modify: The date the data was last modified.

DELETING A POSITION

Double left click on a position to open the Position Edit window. Set InitShare to 0 (zero) then click Commit.