End-of-day holdings vs overnight inventory

Question

I am wondering whether these two terms identify the same thing:

• overnight inventory
• end-of-day holdings

The way I would explain it intuitively, the inventory that is held overnight should be identical to the holdings at the end of the day, for an individual trading account.

If that is correct, I wonder whether, by extension, end-of-day net holdings could be referred to as net overnight inventory.

Answer 1

It appears that these are actually all the same thing.

overnight inventory, end-of-day holdings, end-of-day net position, it all identifies the same thing. The different terminology arises from how, technically, an account's inventory is reconstructed using order book message data. However, they all identify the inventory at market close, i.e. the overnight inventory.