Gross Open Position definition
Gross Open Position means, in respect of an FX2 Trading Account at any given time, the aggregate of Dollar Countervalue of the amount payable by the Customer to the Bank under each FX2 Trading Contract (or a portion thereof) for which no Settlement Value has been determined at such time and which has not been closed out by the Bank at such time, with each Dollar Countervalue being the amount determined at the time such FX2 Trading Contract (or such portion thereof) was first entered into between the Customer and the Bank under such FX2 Trading Account;
Gross Open Position means, at any given time, the aggregate of Dollar Countervalue of the amount payable by the Customer to the Bank under each Margin Trading Contract (or a portion thereof) for which no Settlement Value has been determined at such time and which has not been closed out by the Bank at such time, with each Dollar Countervalue being the amount determined at the time such Margin Trading Contract (or such portion thereof) was first entered into between the Customer and the Bank;