ExchangeAccountType Values
Position Limits may be applied and/or calculated differently depending on the account type in which the positions are held at the relevant exchange. For example, a Hedge Account will be netted differently on the Singapore Exchange compared to an Omnibus Account.
FundApps is able to distinguish between these account types via the entity & portfolio property ExchangeAccountType.
It is expected that a client will be a single account type per exchange; therefore, the ExchangeAccountType property should be set at the Top-level Entity to capture the correct regulatory application.
The account type at the exchange typically references who is interacting with the Exchange on behalf of our client;
- If positions are held on behalf of a client (e.g. by a broker), the account type is usually Client/Customer or Agent
- If positions are held on a proprietary basis, the account type is usually Proprietary (i.e. you are trading directly with the Exchange)
- If positions are held by a market maker on the exchange, the account type is usually Market Maker (not typically relevant to our clients and our service)
Where the account type references the type of investment manager you are e.g. institutional - then select the account type appropriate for your company.
If you are unsure which account type to select for a given exchange for positions managed by a broker or other third party, contact them to determine which one is appropriate.
Valid ExchangeAccountType Values and the relevant exchange:
EUREX
XEURAgentAccount
An account where trades are entered on behalf of an exchange member's customer is recorded in an "agent account."
Trades entered into the T7 system on behalf of clients are recorded in the agent accounts (A1, …, A9). All give-up trades are considered part of account A1 and are displayed as such trades. The account code G2 declares that the trade is going to be sent to another Member, usually when a client uses one member to perform the execution and another to do the clearing. Netting of Agent Accounts will be done on a gross basis.
See here for more information.
XEURProprietaryAccount
An account where trades for an exchange member's own account are recorded in a "proprietary account."
These two accounts are available for trades made for the participant's own account. The participant has full discretion over which account is used for an opening position, although close-outs must be directed to the same account as the open position. Netting of Proprietary Accounts will be done on a net basis.
See here for more information.
XEURMarketMakerAccount
Accounts that trade on the participants' own account will be recorded under Proprietary Accounts (M1/M2). Trades resulting from quotes are booked automatically on the M1-account. Previously, positions within an M account were automatically closed out; with the upgrade of the C7 system in December 2018, gross handling of M-Accounts and Zero Cost Quantity (ZCQ) for M-Accounts was introduced. Netting of Market Maker Accounts will be done on a net basis.
See here for more information.
XSES
XSESOmnibusAccount
This account type is used when there are a number of underlying Customers whose positions are carried in sub-accounts. Long positions are not automatically offset against short positions. Instructions must be provided in order to close out an existing position in any sub-account.
XSESHedgeAccount
Positions in such accounts are maintained for hedging against cash market or other types of exposures. Long positions are not automatically offset against short positions. Instructions must be provided in order to close out an existing position.
XSESSpeculativeAccount
Such accounts are for taking speculative positions in the market, i.e. where the account holder does not hold concurrent long and short positions. For this type of account, long and short positions are automatically offset against each other.
XMOD
XMODHedgeAccount
Positions in such accounts are maintained for hedging purposes only. For this type of account, long and short positions are automatically offset against each other.
XMODSpeculativeAccount
Such accounts are for taking speculative positions in the market. For this type of account, long and short positions are automatically offset against each other.
XKLS
XKLSMarketMakerAccount
Local participants may be appointed by the exchange to act as market makers. Market makers have position limits which are double that of non-market makers.
The directive can be found here.
XKLSNonMarketMakerAccount
All other participants on the exchange will be subject to the position limits specified in Schedule 1 of the link above.
XHKG
XHKGClientAccount
Accounts of clients of the exchange. For accounts held by Clients, the limits can differ from those held by Exchange Participants.
XHKGExchangeParticipantAccount
Accounts of Exchange Participants can be searched for here. For accounts held by Exchange Participants, the limits can differ from Client Accounts.
XKFE
XKFEInstitutionalAccount
Positions held by Institutional Investors. For this type of account, long and short positions are automatically offset against each other.
XKFERetailAccount
Positions held by Retail Investors. For this type of account, long and short positions are automatically offset against each other.
XTKT
XTKTRetailAccount
Retail accounts held on the exchange. For retail accounts, the limits can differ from other account types e.g. commercial.
XTKTCommercial
Commercial accounts held on the exchange. For commercial accounts, the limits can differ from other account types e.g. retail.
XTKTCustomer
Customer accounts held on the exchange. For customer accounts, the limits can differ from other account types e.g. retail.
XTKTInvestmentTrust
Positions held by Investment Trusts on the exchange. For investment trusts, the limits can differ compared to if contracts are held by an investment fund, for example.
XTKTInvestmentFunds
Positions held by investment funds on the exchange. For investment funds, the limits can differ compared to if contracts are held by an investment trust, for example.
XTKTMemberProprietaryTrades
Positions held on a proprietary basis.
XNSE (more details here)
XNSECatIFPIAccount
Government and government-related foreign investors such as Central Banks and sovereign Wealth Funds. Including all insurance entities, funds from Financial Action Task Force (FATF) member countries, university and pension funds, etc.
XNSECatIIFPIAccount
Individual, family offices, and corporate bodies.
XNSECatIIFPIOtherAccount
Appropriately regulated funds not eligible as Category I FPIs, endowments foundations and charitable organisations.
XNSEClientAccount*
Client-level limits also apply to Cat II accounts.
*FundApps does not currently support this type of ExchangeAccountType. If the XNSEClientAccount is relevant to you, please contact us at support@fundapps.co to let us know.
XNSETradingMemberAccount
Trading member level limits apply to Cat I and Cat II other accounts
XZCE
XZCENonBrokerageAccount
Accounts held by Non-Brokerage members of the exchange. For these accounts, the limits can differ from those held by Client Accounts.
XZCEClientAccount
Accounts held by Clients who will appoint a broker to trade on the exchange. For accounts held by Clients, the limits can differ from those held by accounts of exchange members.
XDCE
XDCENonBrokerageAccount
Accounts held by Non-Brokerage members of the exchange. For these accounts, the limits can differ from those held by Client Accounts.
XDCEClientAccount
Accounts held by Clients who will appoint a broker to trade on the exchange. For accounts held by Clients, the limits can differ from those held by accounts of exchange members.
XSGE
XSGEBrokerageAccount
Accounts held by Brokerage members of the exchange.
XSGEClientAccount
Accounts held by Clients who will appoint a broker to trade on the exchange.
XSGEProprietaryAccount
Accounts holding positions held on a proprietary basis.
XSGEMarketMakerAccount
Accounts held by Market Makers on the exchange
XSGENonFFMemberAccount
Accounts held by Non-Futures Firm Members
XSGEOSNBPAccount
Accounts held by Overseas Special Non-Brokerage Participants
XTAF
XTAFProprietryAccount
If positions are held on a proprietary basis, the account type is usually Proprietary (i.e. you are trading directly with the Exchange). Currently, there are no differences in limits between Proprietary and Market Maker.
Further details can be found here.
XTAFMarketMakerAccount
If positions are held by a market maker on the exchange, the account type is usually Market Maker (not typically relevant to our clients and our service). Currently, there are no differences in limits between Proprietary and Market Maker.
Further details can be found here.
XTAFInstitutionalAccount
Positions held by Institutional Investors. Details on limits can be found here.
XTAFIndividualAccount
Individual refers to an individual trader (not typically relevant to our clients and our service).
XJPX
XJPXCustomerAccount
Customer accounts held on the exchange.
XJPXCommercialAccount
Commercial accounts held on the exchange.
XJPXInvestmentTrustAccount
Positions held by Investment Trusts on the exchange.
XJPXMarketMakerAccount
Accounts held by Market Makers on the exchange.