When I trade a contract denominated in a currency different from the the currency of my account what is the rate of exchange for the calculation of profits/losses? Does it vary between brokers?
That's what I thought. I am curious how it works - does the clearing house have a hedging position open in the currency different from the contract currency? Normally, it would be hard to exchange, let's say, 5.57 GBP at the market rate, wouldn't it?
