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# Rate Conversions

These steps are used for the rate conversion of :

1. Quote CCY -> Base CCY
2. Base CCY -> Deposit CCY

Formula: `(opening rate - closing rate) * volume`

The type of rate (BID or ASK) is chosen according to the deal direction.

For example if the closing position is SELL a BID price is used, while if the closing position is BUY an ASK price is used.

Example 1

Account: xxxx Base Currency: EUR (1.52179 - 1.52231)*30000=15.6AUD

Convert to EUR

15.6/ 1.52231 = 10.2475 the server of course rounds this to 10.25 or alternatively 15.6 *0.065693= 10.2476 =>10.25

Example 2

Account: xxxx Base Currency: GBP The 2M order was filled partially:

1.6M order: (1.54172-1.54209)*1400000=518AUD

Convert to EUR 518/1.54209 = 335.907 EUR

Convert to GBP 335.907 * 0.84476( Base Currency -> Deposit Currency) = 283.76£

600K order:

(1.54172-1.54158)*600000 = 84AUD

Convert to EUR 84/1.54158 = 54.489 EUR

Convert to GBP 54.489*0.84486( Base Currency -> Deposit Currency)=46.4£