New Zealand Gazette – 1987 – No. 184

Page 4854

✨ Futures Market Pricing

(3) Where, for the purposes of determining the income or expenditure of a person in respect of a financial arrangement, it is necessary to determine the price for a futures contract as at the end of an income year, the price for the futures contract shall be the market price for that contract determined by the International Commodities Clearing House on that day.

Example—The following are examples of advice as to the market price of futures contracts provided by the International Commodities Clearing House.

The futures portfolio of a Merchant Bank on the 14th day of July 1987 was 42 open 90 day Bank Accepted Bill contracts. The contracts were bought at various times over the year and related to various delivery times. The portfolio consisted of 37 buy contracts and 5 sell contracts. The market price of those contracts on the 14th day of July 1987 is as given in the following excerpts from the International Commodities Clearing House statements.

The market price at 14th July 1987 of the buy contracts is $3.77 and the market price of the sell contracts is $4.00.

This determination is signed by me on the 30th day of September 1987.

JOHN SIMCOCK, Commissioner of Inland Revenue.

INTERNATIONAL COMMODITIES CLEARING HOUSE LIMITED
(INCORPORATED IN ENGLAND)

STATEMENT OF OPEN POSITION

MARKET : N.Z. FUTURES EXCHANGE LIMITED
CONTRACT : 90 DAY BANK ACCEPTED BILL
REGISTRATION BRANCH : NEW ZEALAND

NEW ZEALAND TRADING MEMBER
105 SYMONDS STREET
AUCKLAND

I.C.C.H SERVICE BRANCH : NEW ZEALAND

NO. 8880 PAGE 1 DATE 14/07/87

PRICE
EACH LOT OF
INDEXED YIELD PER ANNUM
NZ$500,000 FACE VALUE

DATE OF TRADE LOTS 'S' INDICATES AN OPENING STRADDLE CONTRACT
DELIVERY MONTH MEMBER THROUGH VALUE CONTRACT PRICE MARKET PRICE MARGIN

10/07/87 10 BUYER AUG 87 4802252.50 83.30 83.77 5351.20 CR
10/07/87 12 BUYER AUG 87 5762703.00 83.30 83.77 6421.44 CR
14/07/87 5 BUYER AUG 87 2401695.00 83.40 83.77 2106.85 CR
14/07/87 10 BUYER AUG 87 4804528.10 83.50 83.77 3075.60 CR
37 BUYER DEC 87 17771178.60 84.00 84.00 16955.09 CR
0 SELLER AUG 87 .00 .00
0 BUYER DEC 87 .00 .00
5 SELLER DEC 87 2405113.35 .00

TOTAL 37 BUYER 17771178.60 16955.09 CR
5 SELLER 2405113.35 .00

20176291.95 OVERALL MARGIN 16955.09 CR

MERCHANT BANK LIMITED
18TH FLOOR, MERCHANT BANK HOUSE
105 SYMONDS STREET
AUCKLAND
Tel: (09) 123456 Telex: NZ65432

Money Market Trading Account No. 1 ACCOUNT No. 2001

OPEN POSITION STATEMENT

PAGE No. : 1 DATE: 14/07/87

MARKET : N.Z. FUTURES EXCHANGE LIMITED
LOT SIZE & CONTRACT : NZ$500,000 FACE VALUE
90 DAY BANK ACCEPTED BILL
PRICE/RATE : INDEXED YIELD PER ANNUM

DELIVERY MONTH	No. OF LOTS	TRADE TYPE	DATE OF TRADE	PRICE **	DEPOSIT	MARKET PRICE **	MARGIN
AUG 87	10	Open	10/07/87	83.30	6500	83.77	5351.20 CR
AUG 87	12	Open	10/07/87	83.30	7800	83.77	6421.44 CR
AUG 87	5	Open	14/07/87	83.40	3250	83.77	2106.85 CR
AUG 87	10	Open	14/07/87	83.50	6500	83.77	3075.60 CR
DEC 87	0	Open	14/07/87	84.00	24050	84.00	16955.09 CR
DEC 87	5	Open			3250		.00
DEC 87	5	Account Total			27300		16955.09 CR

THIS STATEMENT LISTS ALL CONTRACTS AND/OR OPTIONS HELD OPEN BY US ON YOUR ACCOUNT ON THE MARKET INDICATED AS AT THE CLOSE OF BUSINESS ON THE DATE HEREON. THE MARKET PRICE IS THE QUOTATION FOR THE APPROPRIATE MONTH(S) FIXED ON THE DATE HEREON.
ISSUED SUBJECT TO THE CORRECTION OF ERRORS AND OMISSIONS.

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VUW Te Waharoa — NZ Gazette 1987, No 184

NZLII — NZ Gazette 1987, No 184

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

✨ LLM interpretation of page content

💰 Futures Market Determination G7 (continued from previous page)

Domain💰 Finance & Revenue
Dated30 September 1987
KeywordsFutures contracts, Income Tax, Market approval, Pricing methods, Financial regulations
👩‍💼 Officials

JOHN SIMCOCK, Commissioner of Inland Revenue

💰 International Commodities Clearing House Statement

Domain💰 Finance & Revenue
Dated14 July 1987
KeywordsFutures contracts, Market price, Bank Accepted Bill, Financial statements

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