PRU A6.4.4

(1) An Authorised Person must convert the net position in each Foreign Currency and in gold at spot rates into the reporting currency.
(2) The overall net open position is measured by aggregating:
(a) the sum of the net short positions or the sum of the net long positions, whichever is the greater; plus
(b) the net position (short or long) in gold, regardless of sign.