how to close an existing position?

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1

Imported from previous forum

2

I know this sounds stupid …
But I did not find a Message Type or Order Type to close an existing position…

Anyone so kind to tell me this…

3

I know this sounds stupid …
But I did not find a Message Type or Order Type to close an existing position…

Anyone so kind to tell me this…

Normally, you’d take the opposing position.

If you had 50 items of a security, you would be long that security. If you sold 50 items of that same security, you’d not go short, you’d simple close the prior position.

4

You did not give any context or workflow. Have a look at PositionEffect (77), LegPositionEffect (564) and AllocPositionEffect (1047). All have a value C=Close to indicate the intent to close a position. This may or may not be successful depending on your actual position.

I know this sounds stupid …
But I did not find a Message Type or Order Type to close an existing position…

Anyone so kind to tell me this…