Auvrane bank manages a group of instruments exposed to the same market risk on the basis of its net exposure, with documented management and reporting to management on that basis; each item is measured at fair value at the reporting date (exception conditions met, case data). The long positions are worth 12,000,000 and the short positions 9,500,000 (at market price). Compute the group's net position.
- Long positions
- 12,000,000
- Short positions
- 9,500,000