What is larger exposure side?

When a client holds both Buy and Sell positions on the same instrument, the larger exposure side refers to the direction (Buy or Sell) with the greater total position volume.

The side with the smaller total volume is considered the hedging side, while the difference between the two sides represents the unhedged exposure.

How is margin calculated for positions held in both directions?

A single-side margin mechanism is applied when a client holds both Long and Short positions in the same instrument.

Instead of charging margin separately for both sides, margin is calculated based on the larger position size. This helps improve capital efficiency.

Example: If a client buys 3 lots and sells 4 lots, the Sell side is the larger exposure side. Therefore, margin is calculated based on 4 lots.