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Interpreting the Positions Reconciliation Report

Whenever there is a net position discrepancy, the first value is the position in PropReports and the second is the position PropReports compares its computed net positions against another source such as your DMA platform or clearing firm.  The report shows the following information:

Account Id or Clearing Id

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Whenever comparing against a DMA platform, the account name will be the PropReports Account Id (which should match the DMA platform).  When comparing against the Clearing firm, the PropReports Clearing Id is shown and positions are combined across one or more sub-accounts prior to comparison.

Symbol

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This is the ticker symbol of the security with the discrepancy.

PropReports Quantity

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The first of the two numbers following the symbol is the net position quantity in PropReports.  Negative value indicates a short position.  0 indicates flat and a double-dash ("--") indicates that there was no trading activity in that symbol that day.  This is a subtle but useful distinction.

External Quantity

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The second of the two numbers following the symbol is the net position quantity at the external entity being compared . For example, here is a sample discrepancy report versus the Sterling platform(i.e. the clearing firm or DMA platform)  Negative value indicates a short position.  0 indicates flat and a double-dash ("--") indicates that there was no trading activity in that symbol that day.  Not all sources indicate flat positions and in those cases "--" will be shown regardless if there was trading activity in that security.

Example

Here is a discrepancy report of PropReports versus Sterling:

	ABC123
           
    AAPL 0 3,000
 	ABC456   DELL -- 100
    IBM -100 -200
    IBMYHOO 500 -100 -200

The above indicates that account ABC123 was flat AAPL whereas Sterling was long 3,000 shares. Account ABC456 four discrepancies for account ABC123:

1. ABC123 has trading activity in AAPL but is now flat whereas Sterling is showing a 3,000 share long position.
2. ABC123 did not trade DELL on this day whereas Sterling shows the account long 100 shares.
3. ABC123 is short 100 shares of IBM whereas

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1. Stering is short 200.
2. ABC123 is long 500 shares of YHOO whereas Sterling is flat and it was not traded that day.

For examples of various position discrepancies, as well as steps to fix them, please visit the Handling Position Discrepancies Pagesee Common Position Discrepancies. 

Interpreting the Executions Reconciliation Report

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Internal: Refers to the fills PropReports is reporting
External: Refers to the fills the source you are reconciling against is reporting
Difference: What trades would need to be posted in PropReports in order for that execution to reconcile 

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