This is an old revision of the document!
Headline
The Implied Spread Positions setting controls whether T4 displays the net implied position for spread markets that are in Byportfolio or Byaccount risk mode. When enabled, T4 will show the calculated implied position for strategies that involve spreads (for example calendar spreads or inter-commodity spreads). This helps traders see their combined exposure in related markets in one place rather than just individual legs.