Universal Stand with AppleColor High-Resolution RGB Monitor

I have the fortune of having an Apple branded 13 inch monitor and stand. Yet, I'm wondering if I'm using the stand correctly? It seems to fit okay but the insert needs to be in the forward position to fit the round hole at the bottom of the monitor? Is the monitor supposed to have the bare metal hole or is a piece missing?

Anyone else have such a stand and monitor to validate that this is the right combination?
I have seen other posts about this stand in the forum but I don't think they needed to have the insert in the same position as below for it to fit.

Thanks

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