HALIFAX FUTURES

1
HALIFAX FUTURES SECURITIES

• Account Statements

2
Account Statement Explanation

• There are five main areas
• 1. Account Details
• Account Number
• 2. Position Summary
• Futures
• Futures Options
• Cash Options
• 3. Account Financial Summary
• Cash Balance
• Variation Margin
• Total Equity
• Initial Margins
• Security
• Excess / (Shortage)
• Forward Dated Journals
• Adjusted Excess/Shortage

   
3
Account Statement Explanation

• 4. Account Financial Summary - Continued
• FOR INFORMATION ONLY
• Forward Unrealized PL
• Net Premium Option Market Value
• Net Liquidating Value (NLV)
• 5. Business Done Today
• 6. Monthly Statement
• Commissions GST

   
4
Account Details
HALIFAX FUTURES AND SECURITIES OPEN POSITION
STATEMENT
Account Number Must quote to broker each time an
order is placed
MACQUARIE BANK LIMITED Banking Institution where
funds are held
John Smith   1 Johnson St Melbourne VIC 3000 Account No AA001   24 March 2004   COB Global MACQUARIE BANK LIMITED 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
   
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
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Position Summary - Futures
Date Open Position Trade Price Current Price Curr Market Revaluation Option PL or Prem Value ()
24MAR04 SFE SPI 200 CONTRACT 25 SFE B      1  JUN04 NET 1 JUN04 3411.0 3411.0 3351.0 AUD -1,500.00 -1,500.00   0.00  
On 24 March 2004, 1 June Spi 200 has been bought
_at_ 3411.0

• 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

Open Position Value AUD SFE SPI 200 CONTRACT
FUTURES 85,272
This is the sum of the value of all contracts per
series at the traded price(s).
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Position Summary Futures Options
Option PL or Prem Value ()
Market Revaluation
Curr
Current Price
Trade Price
Open Position
Date
0.00 B  35,000.00 35,000.00  
-1500.00 A 11,000.00 11,000.00
AUD AUD
3351.0 48.0
3411.0 70.0 
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
24MAR04 23APR04  
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 PL 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
On 23 April 2004, 20 Jun 3350.0 Spi 200 Calls
have been sold on the SFE market for 70 points
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Position Summary Futures Options
Option PL or Prem Value ()
Market Revaluation
Curr
Current Price
Trade Price
Open Position
Date
0.00 B  35,000.00 35,000.00  
-1500.00 A 11,000.00 11,000.00
AUD AUD
3351.0 48.0
3411.0 70.0 
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
24MAR04 23APR04  
Options Position Value AUD SFE SPI 200 CONTRACT
FUTURES 85,275 SFE SPI 200 CONTRACT
OPTIONS 35,000
In this case, to exit out of the trade you can
buy the options back at 48 points for a total PL
of AUD 11,000 being 70 points 48 points 22
points AUD 25 per point 20 contracts
This is the sum total of the open position value
grouped by commodity, futures/option and currency
8
Position Summary Futures Options
Option PL or Prem Value ()
Market Revaluation
Curr
Current Price
Trade Price
Open Position
Date
0.00 B  35,000.00 35,000.00  
-1500.00 A 11,000.00 11,000.00
AUD AUD
3351.0 48.0
3411.0 70.0 
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
24MAR04 23APR04  
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 PL
columns. These figures will also form part of
the client Total Equity or Above the line
margin amounts in the Account Financial Summary.
9
Position Summary Cash Options
Date Open Position Trade Price Current Price Curr Market Revaluation Option PL or Prem Value ()
14APR04   DAX OPTIONS ON EUREX 10 ERX S   2 JUN04 3500.0 Putt 17JUN NET 2 AVG SOLD 25.0 25.0   18.0 EUR 180.00 180.00   70.00 70.00  
On 14 April 2004, 2 JUN 3500 DAXO Putts have been
sold on the EUREX market _at_ 25 points
To exit out of this trade you can buy these Calls
back for 18 points. Resulting in a 7 point gain
on 2 contracts _at_ 5 EUR per point being EUR 70.00
Options Position Value EUR ERX DAXO Options
250
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.
This is the sum total of the open position value
grouped by commodity and futures/option and
currency _at_ the traded price(s)
10
Position Summary - continued
Option PL Prem Value ()
Market Revaluation
Cur
Current Price
Trade Price
Open Position
Date
  -70.00 -70.00    
-180.00 -180.00
EUR
18.0    
25.0    
DAX OPTIONS ON EUREX 10 ERX S      2  JUN04
3500 Putt  17JUN NET   -2 AVG SOLD 25.0
14APR04    
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 Net Premium Options Market Value DAXO
Options EUR -180.00 70.00
As these options are Premium or Cash style
options, the Value of the options _at_ 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
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Account Financial Summary
Cash Balance Open Positions Total Funds
paid/received Futures PL 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.
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.
12
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 PL 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
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.
13
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.
14
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.
15
Account Financial Summary Continued
Forward Unrealised PL Open Positions Unrealised
profit and loss for markets that do not realise
PL until prompt dates,or pay interest on PL
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.
Net Liquidating Value Open Positions Sum of
Total Equity Forward Unrealised PL Net
Premium Option Market Value. Identifies the
value of the account if all positions (offshore
and SFE) are closed.
16
Account Financial Summary Continued
Currency Conversion Open Positions As an
account trades, all premiums, brokerage, PL,
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).
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
17
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
AUD EUR USD NET AUD
(0.5952) (1.0678) (1.0000) (0.5952)
CASH BALANCE 19,952.50 280.20 680.40 21598.33
VARIATION MARGINS
- Eurex DAX Options Options - -320.00 -574.09
- CME EURO FX Options Options - -312.50 -525.03
TOTAL EQUITY 19,952.50 -39.80 367.90 20499.21
INITIAL MARGINS - -1165.00 -842.00 -3504.69
EXCESS / (SHORTAGE) 19,952.50 -1204.80 -474.10 16994.52
18
Business Done Today Cash Options
On 14 April 2004, 2 Jun 3500 Puts have been sold
on the DAX market for 25 points
Resulting in a credit of 250 EUR 2 contracts x 25
points x 5 EUR

• Business Done Today
• EURO Dollars

Date   Description   Bought Price Sold Price Commission and Fees Amount Posted
14APR04 BUSINESS DONE TODAY DAX OPTIONS ON EUREX 10 ERX S      2  JUN04 3500 Putts  17JUN Commission 25.0 19.80 DR 250.00 CR 19.80 DR
TOTALS BROUGHT FORWARD BALANCE OPTIONS PREMIUM TOTAL COMMISSIONS Commissions excl GST GST on Commissions CARRIED FORWARD BALANCE 18.00 DR 1.80 DR 0.00 250.00 CR 19.80 DR 230.20 CR
Commission and GST are deducted Balance is
credited to EUR totals CASH BALANCE
19
Business Done Today Futures
On 24 March 2004, 1 June Spi 200 Future has been
bought on the SFE market _at_ 3411.0

• Business Done Today
• AUD Dollars

Date   Description   Bought Price Sold Price Commission and Fees Amount Posted
24MAR04 BUSINESS DONE TODAY SFE SPI 200 CONTRACT 25 SFE B      1  JUN04 Commission 3411.0 3.85 DR 3.85 DR
TOTALS BROUGHT FORWARD BALANCE OPTIONS PREMIUM TOTAL COMMISSIONS Commissions excl GST GST on Commissions CARRIED FORWARD BALANCE 3.50 DR 0.35 DR 0.00 0.00 3.85 DR 3.85 DR
Commission and GST are deducted Balance is
debited to AUD totals CASH BALANCE
20
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
No option premium posted

• Business Done Today
• AUD Dollars

Amount Posted
Commission and Fees
Sold Price
Bought Price
Description  
Date  
77.00DR
77.00DR
70.0

BUSINESS DONE TODAY SFE SPI 200 CONTRACT 25 SFE
S 20 JUN04 3350.0 Call 17JUN04      Commission
23 APR04
3.85DR 77.00 DR 80.85 CR
70.00 DR 7.00 DR

• TOTALS
• BROUGHT FORWARD BALANCE
• OPTIONS PREMIUM
• TOTAL COMMISSIONS
• Commissions excl GST
• GST on Commissions
• CARRIED FORWARD BALANCE

Commission and GST are deducted Balance is
credited to EUR totals CASH BALANCE
21
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 AUD AUSTRALIAN DOLLAR
DATE   DESCRIPTION DAILY POSTING GST PAYABLE TOTAL
15 JAN 03 22 JAN 03 GST CONVERSION FROM USD _at_ 0.550 GST CONVERSION FROM EUR _at_ 1.831 TOTALS 0.00 CR 0.00 CR 0.00 CR 4.15 DR 3.29 DR 0.00 DR 4.15 DR 3.29 DR 0.00 DR

EUR EURO
DATE   DESCRIPTION   DAILY POSTING GST PAYABLE TOTAL
22 JAN 03 COMMISSION GST CONVERSION TO AUD TOTALS 18.00 DR 0.00 CR 18.00 DR 1.80 DR 1.80 CR 0.00 CR 19.80 DR 1.80 CR 18.00 DR