ACI Dealing Certificate (#198)

A closed position in a particular foreign currency exists:

when the net spot position plus the forward position plus the delta equivalent of the foreign currency options book add up to zero
when the forward purchases of a foreign currency are equivalent to the equity position in that same currency
when the reverse repurchases of foreign currency are equal to the forward purchases of the functional currency
when the maturity structure of the assets in one currency is closely matched to the maturity structure of liabilities in another