Definition of turnover for future-trading?

General
1

With regards to this calculation in one of your articles:
“100 Nifty Buy at 8000, Sell at 8100, Profit = Rs 10,000
100 Nifty Buy at 8100, Sell at 8050, Loss = Rs 5000
Turnover of Nifty Jan futures = Rs 10,000 + Rs 5000 (absolute sum of the loss) = Rs 15000”

Does m2m settlement affect this? Or is the turnover calculation only done when one exits the position?

2

Turnover calculation is done only for closed positions. For open options - it won’t be considered.

Further, this turnover calculation is done for the purpose of determining audit applicability.

3

Thx!