position change submission (PCS)

position change submission (PCS)
Process by which clearing firms report the effect of the day's trades on previous or incoming positions. Clearing firms transmit this position information, along with spread position information, via a computer to computer link. Based on position and spread information, CME Clearing calculates each firm's open interest and performance bond requirements. (Frequently referred to as PCS.)

Financial and business terms. 2012.

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