Improve the definition of the Position context type

[kriswest]

Enhancement Request

FDC3 already defines a Position context type, however, it is more simplistic than necessary. Enhance the existing type to better represent a Position.

Use Case:

Provide a more accurate represent a financial position relating to a specified instrument, which may be used to visualize or otherwise analyze that position. May also be used to compose a type representing a Portfolio.

Contexts

Position

Represents a financial position (a holding in a particular instrument).

The Position type goes hand-in-hand with the Portfolio type, which represents multiple holdings in a combination of instruments.

The position schema does not explicitly include identifiers in the id section, as there is not a common standard for such identifiers. Applications can, however, populate this part of the contract with custom identifiers if so desired.

Details

Property	Type	Required	Example Value
type	string	Yes	'fdc3.position'
id	object	No	{ positionId: '6475' }
name	string	No	'My Apple shares'
instrument	Instrument	Yes	{ type: 'fdc3.instrument', ... }
holding	number	Yes	2000000
trades	TradeList *	No	[{ type: 'fdc3.trade, ... }, ... ]
basis	Valuation **	No	{ type: 'fdc3.valuation', ... }
current	Valuation **	No	{ type: 'fdc3.valuation', ... }
gain	number	No	8000000
restricted	number	No	4000

* See issue #655 ** See issue #652

Example

const position = {
    type: "fdc3.position",
    instrument: {
      type: "fdc3.instrument",
      id: {
        ticker: "AAPL"
      }
    },
    holding: 2000000,
    trades: [{
        type: "fdc3.trade",
        instrument: {
          type: "fdc3.instrument",
          id: {
            ticker: "AAPL"
          }
        },
        tradeTimeRange: {
          type: "fdc3.timeRange",
          starttime: "2020-09-01T08:00:00.000Z"
        },
        settleTimeRange: {
          type: "fdc3.timeRange",
          starttime: "2020-09-02T08:00:00.000Z"
        },
        quantity: {
          units: 1000000
        },
        open: {
          type: 'fdc3.valuation',
          value: 20000000.0,
          price: 20.0,
          CURRENCY_ISOCODE: 'USD'
        },
        location: "XYZ",
        account: "cash"
      },
      {
        type: "fdc3.trade",
        instrument: {
          type: "fdc3.instrument",
          id: {
            ticker: "AAPL"
          }
        },
        tradeTimeRange: {
          type: "fdc3.timeRange",
          starttime: "2020-09-08T08:00:00.000Z"
        },
        settleTimeRange: {
          type: "fdc3.timeRange",
          starttime: "2020-09-09T08:00:00.000Z"
        },
        quantity: {
          units: 1000000
        },
        open: {
          type: 'fdc3.valuation',
          value: 22000000.0,
          price: 22.0,
          CURRENCY_ISOCODE: 'USD'
        },
        location: "XYZ",
        account: "cash"
      }
    ],
    basis: {
      type: "fdc3.valuation",
      price: 21.00,
      value: 42000000,
      CURRENCY_ISOCODE: 'USD'
    },
    current: {
      type: "fdc3.valuation",
      price: 25.00,
      value: 50000000,
      CURRENCY_ISOCODE: 'USD'
      code: "USD"
    }
  },
  gain: 8000000,
  restricted: 0
};

fdc3.raiseIntent("ViewChart", position);

Additional Information

... please add any other information that can provide additional detail for this enhancement request

[dominicgifford]

One of the key classifiers for many buy-sides when visualising a position is strategy. Less common, but still used in some buy-side sectors, are positions broken down by tax lots. I appreciate applications could use custom elements to identify these but I would be interested to know what other contributors think about making these optional elements?

[nemery-flextrade]

How would one indicate a short position? Do we need an indicator field or should we keep it simple and rely on a negative quantity?

[kriswest]

@dominicgifford happy to add optional elements where they make sense for shared context. What would you suggest for adding:

• strategy (optional string field)?
• break down by tax lots

@nemery-flextrade Negative holding amount?