Steps:
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1. Set up Company Profile
Settings>Company>Company Profile
a. As the physical tradecontracts need to be linked to the Company Name, before you use the Physical Trades function, you may need to set up your company profile first (including parent and subsidiary company details).
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2. Bulk upload physical trades, please access Copy of Bulk Upload Physical Trades 现货合同 101
a. Please click on Trade, followed by Physical Trade from the navigation sidebar on the left to enter the physical trade page,
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Credit Term : Terms of credit
Payment Term: Terms of payment
Days: No. of days for Payment Term
biv. Other Details
Incoterm : INCO term
Port/WH Name : Port/Warehouse name
Laycan Period: Laycan period, consisting of start and end date
Shipping Month/Year：Shipping month and shipping year
Laytime (Hours): Laytime in hours
Ext: Extension in hours
Demurrage: Demurrage fee
Law/Arb: Law/Arbitrary details
Inspection: Inspection details
Q+Q: Quantity and quality details
Delivery Rule: Delivery rules
GT&C: General terms and conditions
Remarks: Remarks
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MTM (Potential) Pricing is to price for inventory so if benchmark pricing is Buy, MTM pricing will be Sell to close the positions
Every deal’s MTM (Potential) Pricing will be the same.
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Step 1：If there is tax rate, please input under Tax Rate (%), for example if tax rate is 13%, please input 13. If there is no tax rate, you may leave it empty. You may enter this page anytime to input/edit the tax rate, and the system will automatically calculate the P/L accordingly.
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Step 3：Please select your Pricing Mode
Definition: Benchmark/MTM Pricing Page - Description: (Only fields with * sign is compulsory; fields with ^ means that once you have selected the pricing mode, the relevant fields will be updated accordingly)
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The following pricing modes apply for both Benchmark Pricing and MTM (Potential) Pricing:
ai. Fixed Price: If your contract has fixed/actual price, please select FIX from the Pricing Mode drop down list and fill in the fixed/actual price
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bii. Floating Price (no fixed price): If your contract has no fixed/actual price yet, you may choose to select an index (“Float/Average”, “Whole Month Average（WMA）”,”Spot“ or “Formula”) to benchmark the pricing of your trades, where data will be obtained automatically from the market data (integrated from various Exchange sources) in the system to calculate the P/L of your positions. Once the trades are executed and prices have been confirmed, you may proceed to Trade Execution to input the final actual quantity and price, which will be automatically updated in portfolios to calculate the P/L.
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Summary： |
Fixed refers to fixed price. WMA represents the floating price of futures products, which follows the price change of the futures contract. WMA represents the floating price of forward products, which follows the price change of the forward contract. Spot is also a floating price, but it corresponds to the daily spot index price, and there is no futures contract. Depending on the structure of the contract, you can determine if it belongs to Float, WMA or Spot. If the Product Group is Iron Ore, you may select Formula to calculate the pricing. |
All paper and physical trades pricing logic is as follows: To determine which Pricing Mode to use, you may double click on the MAF Product ID/Product field to determine the "Product Type" (forward/futures/spot/forex）:
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d. Once done, please click on the Next button at the bottom right corner of the page to view the summary page, followed by Submit to save your data. Once the data has been saved successfully, they will appear in the Physical Trade table.
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In the Trades>Physical Trades>Trades tab, there are 2 tables, the top table will display all physical trades data, whereas the bottom table will display all trade execution data of the physical trades
In this page, besides bulk uploading your physical trades, you may also click on the + New Trade button to manually input physical trades data or access other functions. Please refer to Managing Physical Tradesto learn more.
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Trade Execution ID：Input is not required, once you save your trade execution data, the Trade Execution ID will be generated automatically
Trade Execution No. *：Under each contract, there may be multiple trade executions due to different pricing methods and different transportation logistics. The trade execution number is used to distinguish each trade’s execution details. If there is only one trade execution, the trade execution number can be the contract number, this field can be input/edited directly in the table
DEAL QTY DSP: Refers to Quantity Discrepancy, there are times when the actual quantity of the purchase and sale contract cannot be matched 100%. For example, you purchase 1001 MT of goods and sold 1001.2 MT of the same goods. But the system is unable to determine if the difference in quantity is correct or due to an input error, so the DEAL QTY DSP will be highlighted in red to remind you to check for discrepancy. Please note that if the trade does not have Actual Quantity, the system will not check so it will not be highlighted in red.
Cases of DEAL QTY DSP in red:
The actual quantity for both purchase and sales contracts are not the same, or
Only the actual quantity for purchase contract is input, but not for the sale contract, and vice versa
Status：Trade status, defined by you
Trade ID：Input is not required, once you save your trade data, the Trade ID will be generated automatically
Trade Date：Date*：The trade date of the contract will be automatically displayed in this table for easy reference.
Deal No.* ：The deal number of the contract will be automatically displayed in this table for easy reference. A dealincludes one or more purchase and sale contracts. All purchase and sale contracts allocated to the same deal number will be matched with each other to calculate the net positions and P/L. Deal number is also considered a portfolio/trading book, and can be found in the Portfolio page.
Trade Mode *：
Offshore refers to offshore contracts - Cannot input for Tax Rate, Exchange Rate and Custom Tax Rate
Domestic China - Can input Tax Rate, cannot input Exchange Rate and Custom Tax Rate
Delivery China - Can input Tax Rate, cannot input Exchange Rate and Custom Tax Rate
Import/Export refers to import/export contracts - Can input Tax Rate, Exchange Rate (If Deal Currency and Product Currency are different) and Custom Tax Rate
Basis Trade China - Can input Tax Rate, cannot input Exchange Rate and Custom Tax Rate
Trader：Name of trader, can be input/edited directly in the table
Category：Category is used to group various contracts. For example, in the spot copper contract, the varieties (category) may include standard copper and non-standard copper. By categorising them separately, you will be able to determine the positions and P/L of each category - standard copper and non-standard copper, can be input/edited directly in the table
Contract No.：Every purchase and sale contract will have their own contract number, can be input/edited directly in the table
Pricing Date：Pricing date, can be input/edited directly in the table
Pricing Contract ：Pricing contract, can be input/edited directly in the table
Purchase/Sale：Sale*：Purchase/Buy or Sale/Sell
Counterparty Reference No.：Counterparty reference number，can be input/edited directly in the table
Counterparty：Counterparty*：Name of counterparty
Product：Product*：Product name, for example Corn, can be input/edited directly in the table
Specification：Product specification, you may fill in for your reference if necessary, eg Product is Rubber and specification is XX1, can be input/edited directly in the table
For the spot brand in the spot contract, the product specification information is non-important information, and more information is filled in for the convenience of retrieval, such as corn starch, can be input/edited directly in the table
Contract Quantity：Quantity*：Contract quantity, can be input/edited directly in the table
Title Transfer Date：Title Transfer Date, if you did not input, it will remain as empty or auto-filled with the trade’s Trade Date if AUTO TTD is ticked or selected, can be input/edited directly in the table
Payment Date：Payment date, can be input/edited directly in the table
LC Issuing Date: Letter of Credit issuing date
LC Number：Letter of Credit number
Presentation period: Presentation period
Pricing Start ：Start date of pricing period
Pricing End：End date of pricing period
Formula Name：If you use FORMULA pricing as the pricing mode for your trade, the formula name will be displayed here
Formula：If you use FORMULA pricing as the pricing mode for your trade, the formula will be displayed here
WMT：Wet Metric Ton
DMT：Dry Metric Ton
FE%：Iron %
MOIS%：Moisture %
Provisional Quantity：Provisional Quantity
Provisional Price：Provisional price, can be input/edited directly in the table
Actual Quantity ：Actual quantity, can be input/edited directly in the table
Pre-Final Quantity：System will auto-calculate, please refer to below Calculations Formula details
Price Unit：Unit*：Product unit eg metric ton
Estimated Price：Estimated price, if no Actual Price is input, the system will use Estimated Price to calculate P/L. Once you input Actual Price, the system will automatically use Actual Price to calculate P/L instead of Estimated Price. This field can be input/edited directly in the table
Actual Price：Actual price, can be input/edited directly in the table
Premium/Discount: Premium/Discount, can be input/edited directly in the table
Pre-Final Price ：System will auto-calculate, please refer to below Calculations Formula details
Pre-Final Price Before Tax ：System will auto-calculate, please refer to below Calculations Formula details
Final Price ：System will auto-calculate, please refer to below Calculations Formula details
Tax Rate（%）：Tax rate of contract, if “13%”, please input “13”
Priced In：System will auto-display, please refer to below Calculations Formula details
TRUE：If Estimated Price or Actual Price is input
FALSE：If Estimated Price or Actual Price is not input yet
Exchange Rate: Final exchange rate used for calculating P/L. If not filled, system will calculate according to the public exchange rate obtained from Exchange sources. Once you input the exchange rate, the system will use it to calculate P/L. This field can be input/edited directly in the table
Custom Tax Rate：Custom Tax Rate, can be input/edited directly in the table
Cargo Value：System will auto-calculate, please refer to below Calculations Formula details
Cargo Value Before Tax：System will auto-calculate, please refer to below Calculations Formula details
Remarks：Remarks, can be input/edited directly in the table
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The model/report you have just created will be displayed as empty at the beginning, which requires you to set up the details by clicking on the Settings (gear icon) button at the top right corner of the app.
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c. Most Dashboard Models/Reports have similar steps. You may choose to select individual or multiple portfolios to be calculated and displayed. Please confirm other details in the Settings page before clicking Submit to proceed. You may edit the details anytime as necessary.
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