Net Open Position or “NOP” shall mean the difference between the total open volume of longs and total open volume of shorts of an instrument on a single trading account.
Net Open Position means in respect of each Product, the volume calculated as the positive difference between the sum of all purchases or sales, as applicable, of such Product and the sum of all opposite sales or purchases as applicable.
Net Open Position means, with respect to Designated Transactions entered into by an Agent, the aggregate amount owed by the Dealer to JPMC, calculated by JPMC as follows:
Examples of Net Open Position in a sentence
User agrees to accept the Max Net Open Position and Max Net Open Position Close as determined by Blockfills in its sole discretion and may not exceed such parameters at any point in time.
More Definitions of Net Open Position
Net Open Position means for the aggregate amount owed to UBS by Customer, as calculated by UBS in the manner specified in Attachment 1 hereto (which may be modified from time to time by UBS in its reasonable discretion).
Net Open Position means the aggregate of the open Positions in a Commodity Group on a Benchmark Position equivalent basis.
Net Open Position means, at any given time, the aggregate amount of Currency to be delivered by the Customer to the Bank under all Transactions, provided however, that in calculating such aggregate amount (i) all Currency Obligations under such Transactions shall be netted in the manner provided in Section 3 of this Agreement, and (ii) any amount payable by the Customer in a Currency other than U.S. Dollars under such Transaction shall be converted into its Dollar Equivalent for delivery on its Value Date.
Net Open Position with respect either Crude Oil, Natural Gas Liquids, Refined Petroleum Products and Renewable Products, as applicable, the absolute value of the number of barrels of such Product obtained by subtracting (a) the sum of (i) the number of barrels of such Product which the Credit Parties have committed to buy, or can be required to buy, or will receive under a commodity contract, on a future date at a fixed price; and (ii) the number of barrels of such Product that the Credit Parties have in Inventory from (b) the number of barrels of such Product that the Credit Parties have committed to sell, or can be required to sell, or will deliver under a commodity contract, on a future date at a fixed price.
Net Open Position means at any time a U.S. Dollar amount deriving from the likely changes in the replacement value of all outstanding Transactions conclusively determined by the Bank in its sole and absolute discretion from time to time.
Net Open Position means, at any time, the aggregate Notional Amount of all outstanding Transactions, minus the aggregate Notional Amount of all outstanding Transactions for which there is a matching Transaction by maturity date and underlying Currencies in the opposite buy/sell direction.
Net Open Position with respect to any Eligible Commodity, the absolute value of the number of barrels (or alternative quantifiable units) of such Eligible Commodity obtained by subtracting (a) the sum of (i) the number of barrels (or alternative quantifiable units) of such Eligible Commodity that the Loan Parties have committed to buy, or can be required to buy, or will receive under a Commodity Contract, on a future date at a fixed price; and (ii) the number of barrels (or alternative quantifiable units) of such Eligible Commodity that the Loan Parties have in inventory from (b) the number of barrels (or alternative quantifiable units) of such Eligible Commodity that the Loan Parties have committed to sell, or can be required to sell, or will deliver under a Commodity Contract, on a future date at a fixed price.