Position, P&L, and Exposure
Position and P&L are derived from fills, fees, corrections, marks, currencies, and accounting conventions. Exposure asks what can change value before positions are closed or hedged.
Central questions
- Which events are authoritative and idempotent?
- How are realized, unrealized, gross, net, and factor exposures distinguished?
- Which price and exchange rate mark each position?
Planned model
Apply fills, fees, busts, price moves, and FX moves to a ledger while displaying position, cash, realized P&L, unrealized P&L, and exposure.