1. Currency, security, or financial instrument owned outright by a dealer, indicating a net asset position. A dealer holding $5 million in U.S. Dollars would say, "I am long in dollars." The opposite is a Short Position or a net deficit. In financial futures, the term refers to a trader's market position when purchasing a Futures Contract without closing out the position by making an offsetting sale; in options, a call option that has not been exercised or allowed to expire.
2. Securities held by a broker-dealer, either for a customer or its own trading account.
