6. Settlement Tab
- IT Support
Input Physical Trades Data
The New Physical Trade function allows users from different departments/teams to access the designated pages to input their data, ensuring a consistent operational workflow and clear delegation of responsibilities for different teams.
Please note that all data input in New Physical Trade will appear in the old Physical Trade page, and vice versa. Trades created in the New Physical Trade page will have their Actions column button disabled, which disallows editing of the trades in the old Physical Trade page.
Alternatively, you may choose to use the old methods to input your data: 1. Manually input physical trades, please access: Input Physical Trades Manually 2. Bulk upload physical trades, please access: Physical Trades 101 - Bulk Upload |
6. Input Pricing Data in New Physical Trade (Settlement Tab)
If this step is not required yet, please proceed to the next step and return to complete this step when necessary.
Please click on Trade, followed by New Physical Trade from the navigation sidebar on the left to enter the physical trade page,
and click on SETTLEMENT to access the page.
All the basic trades data input in Step a (Trades tab) above will be reflected automatically in the table.
The From Date is 1 week before today's date and To Date is today’s date by default. Please feel free to change the dates accordingly. The dates will remain according to your settings until you log out.
To reset the filter, click on the Reset Filter button or right-click in the table and click on Reset Filter.
If AUTO P&Q is ticked, the Settlement Qty and Settlement Price will be autofilled according to Contract Actual Qty and Contract Actual Price. Otherwise, you may untick AUTO P&Q before settling your trades and the respective items will not be auto-filled accordingly. AUTO P&Q is ticked by default.
Please note that if AUTO P&Q is ticked, Settlement Qty and Settlement Price cannot be edited.
You can now click on an individual cell or highlight multiple cells to view aggregated summary at the bottom of all columns for all quantity and amount columns. If you click elsewhere, the aggregated summary will reset to default - sum up all columns.
Please fill in the settlement data as necessary, only fields in red in the table are compulsory to be filled.
For auto-fill fields, please note that only empty fields will be autofilled, if the fields have values, it will not auto-update.
Trade ID：Input is not required, once you save your trade data, the Trade ID will be generated automatically
Execution ID: Input is not required, Execution ID is generated automatically
Trade Date*：Input is not required, it will be auto-filled according to your inputs in Trades tab
Product：Input is not required, it will be auto-filled according to your inputs in Trades tab
Entity of Contract*：Input is not required, it will be auto-filled according to your inputs in Trades tab
Counterparty*：Input is not required, it will be auto-filled according to your inputs in Trades tab
Purchase/Sale*：Input is not required, it will be auto-filled according to your inputs in Trades tab
Trader：Input is not required, it will be auto-filled according to your inputs in Trades tab, can be edited
Contract No.：Input is not required, it will be auto-filled according to your inputs in Trades tab
Trade Mode *：Input is not required, it will be auto-filled according to your inputs in Trades tab
Offshore refers to offshore contracts - Cannot input 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
Entrepot - Can input Tax Rate and Exchange Rate (If Deal Currency and Product Currency are different), cannot input Custom Tax Rate
Offshore-Cross Ccy - Can input Tax Rate and Exchange Rate (If Deal Currency and Product Currency are different), cannot input Custom Tax Rate
EFP - Can input Tax Rate, cannot input Exchange Rate and Custom Tax Rate
Long Term - Can input Tax Rate, cannot input Exchange Rate and Custom Tax Rate
Deal ID: Input is not required, once you save your Deal Number, the Deal ID will be generated automatically
Deal No.: Deal number of the trade. Please note that if a deal number is an existing deal number, the MTM pricing will follow that of the deal number and so it will not be fillable. If the deal number input is new, you will be able to input the MTM pricing
If select existing Deal No., Deal ID and Deal Currency will automatically appear and are uneditable
If select new Deal No., Deal Currency is compulsory field and will be editable. Deal ID will be empty but will be autofilled once data is saved
Cat: Category of product
Unit*：Input is not required, it will be auto-filled according to your inputs in Trades tab
Deal Ccy: Deal currency
Title Transfer Date: Title transfer date will be auto filled according to the Trade Date of the trade if AUTO TTD at the top right corner of the page is auto ticked (by default). You may untick AUTO TTD and fill in the title transfer date as necessary. It cannot be earlier than physical trade date and cannot be after today's date
Qty*：Quantity, Input is not required, it will be auto-filled according to your inputs in Trades tab
Contract Actual Qty：Input is not required, it will be auto-filled according to your inputs in Trades tab
Provisional Price: Temporary price, will be used to calculate P/L if Estimated Price or Actual Price is not available yet. The system will follow this order of priority to calculate P/L if the price is available: Actual Price > Estimated Price > Contract Actual Price > Provisional Price
Contract Actual Price ：Input is not required, it will be auto-filled according to your inputs in Trades tab
Contract Ccy：Input is not required, it will be auto-filled according to your inputs in Trades tab
BM Pricing*: Benchmark Pricing - Benchmark PRICING CODE of your product which has been pre-set in the physical pricing setting tab. The pricing index code selected will be used to benchmark the pricing of your trade. Please note that to set the pricing for each trade, you can only choose either Benchmark Pricing or Settlement Price. Settlement Price will be empty if you select Benchmark Pricing. Tax rate for benchmark pricing has already been pre-set in physical pricing setting tab. Please note that you can set the currency for both BM Pricing and Settlement Price in Fixed Pricing Ccy.
Premium: Premium of your benchmark pricing index
Settlement Price*: Final settlement price of trade. If empty, it will be auto filled according to Contract Actual Price, you may edit as necessary. Please note that to set the pricing for each trade, you can only choose either Benchmark Pricing or Settlement Price. Benchmark Pricing will be empty if you select Settlement Price. This will be used as priority to calculate P/L. The system will follow this order of priority to calculate P/L if the price is available: Settlement Price > Estimated Price > Contract Actual Price> Provisional Price. Please note that you can set the currency for both BM Pricing and Settlement Price in Fixed Pricing Ccy.
Fixed Pricing Ccy*: Currency of Settlement Price or BM Pricing
Settlement Tax Rate (%): Tax rate for trade with settlement price. Tax rate for benchmark pricing has already been pre-set in physical pricing setting tab so this field cannot be used if benchmark pricing has been used instead of fixed pricing. This will only be applicable if your trade mode is not OFFSHORE
MTM Pricing*: MTM PRICING CODE of your product which has been pre-set in the physical pricing setting tab. The pricing index code selected will be used to benchmark the MTM of your trade. Tax rate for MTM pricing has already been pre-set in physical pricing setting tab. You do not need to select this if your deal number is an existing deal number with its own MTM pricing
Settlement Qty: Actual settlement quantity of trade. Quantity will follow this order of priority when calculating P/L, PS Ledger and Stock Management: Settlement Qty > Contract Actual Qty > Qty.
Estd Price: Estimated price of trade, will be used to calculate P/L if Actual Price is not available yet. The system will follow this order of priority to calculate P/L if the price is available: Settlement Price > Estimated Price > Contract Actual Price> Provisional Price
If there is no Contract Actual Price, Estimated Price will be auto filled with Provisional Price. If there is Contract Actual Price, Estimated Price will be empty for user to fill in
PRICE BEFORE TAX 不含税单价:
if trade mode = offshore:
PRICE BEFORE TAX = SETTLEMENT PRICE
if no SETTLEMENT PRICE, PRICE BEFORE TAX = ESTED.PRICE
if trade mode = import/export or offshore-cross ccy:
PRICE BEFORE TAX = SETTLEMENT PRICE * EXCHANGE RATE /(1+SETTLEMENT TAX RATE(%))
if no SETTLEMENT PRICE, PRICE BEFORE TAX = ESTED.PRICE *EXCHANGE RATE /(1+SETTLEMENT TAX RATE(%))
all other trade modes are just as original:
PRICE BEFORE TAX = SETTLEMENT PRICE/(1+SETTLEMENT TAX RATE(%))
if no SETTLEMENT PRICE, PRICE BEFORE TAX = ESTED.PRICE /(1+SETTLEMENT TAX RATE(%))
Exchange Rate: Exchange rate used for the trade. This will only be applicable if your trade mode is IMPORT/EXPORT
Exchange Conversion Date: Date of exchange rate conversion. This is only supported in New Physical Trade page and not Old Physical Trade page. This will only be applicable if your trade mode is IMPORT/EXPORT
Custom Tax Amount: Custom tax amount applicable for the trade. This will only be applicable if your trade mode is IMPORT/EXPORT
SETTLEMENT AMT 结算金额:
SETTLEMENT AMT = SETTLEMENT QTY* SETTLEMENT PRICE/ESTED.PRICE (Same logic as PRICE BEFORE TAX)
SETTLEMENT AMT BEFORE TAX 不含税结算金额:
SETTLEMENT AMT BEFORE TAX = SETTLEMENT AMT/(1+SETTLEMENT TAX RATE(%))
SETTLEMENT AMT BEFORE TAX = PRICE BEFORE TAX * SETTLEMENT QTY
Remarks
Settlement Remarks
Once done, please tick the checkbox of the trades you want to save and click on Save Changes to save your data. If you do not tick the checkbox of the rows before clicking Save Changes, no data will be saved.
All saved data will be transferred to the Updated Settlement table, please refer to Step c.
c. Update Pricing Data in New Physical Trade (Updated Settlement Tab)
If this step is not required yet, please proceed to the next step and return to complete this step when necessary.
All the settlement data updated and saved in Step b (Settlement tab) above will be reflected automatically in the table.
Please click on Trade, followed by New Physical Trade from the navigation sidebar on the left to enter the physical trade page,
and click on UPDATED SETTLEMENT to access the page.
The From Date is 1 week before today's date and To Date is today’s date by default. Please feel free to change the dates accordingly. The dates will remain according to your settings until you log out.
To reset the filter, click on the Reset Filter button or right-click in the table and click on Reset Filter.
Click on FILTER T≠S Chinese: 筛选 结算≠合同 to filter only columns highlighted in green in the table:
if settlement qty != (contract actual qty or qty) [highlight contract actual qty or qty in green]
if settlement price (actual_price) != contract_actual_price [ensure null and empty convert to empty] [highlight contract actual price in green]
if tax_rate (settlement tax rate) != contract tax rate [ensure null and empty convert to empty] [highlight contract tax rate in green]
additional notes:
if pricing_id is not empty or null and
if contract_actual_qty != actual_qty, show ACTUAL QTY in green
if contract_actual_price != total_actual_price, show ACTUAL PRICE in green
if contract_tax_rate != tax_rate, show CONTRACT TAX RATE in green
Please change the name of ACTUAL QTY and ACTUAL PRICE to “CONTRACT ACTUAL QTY , CONTRACT PRICE”. Chinese: 合同实际数量，合同实际价格
4. For qty, now we set the rule as:
if the trade has contract actual qty
contract_actual_qty != actual_qty, show CONTRACT ACTUAL QTY in green
if the trade has only qty
qty != actual_qty, show QTY in green
Qty/Contract Actual Qty not equal to Settlement Qty
Contract Tax Rate not equal to Settlement Tax Rate
Contract Actual Price not equal to Settlement Price
5. For all columns need to highlight green, set the following condition:
Only when the PHY PRICING ID is filled
Columns：CONTRACT CCY、ACTUAL PRICE、ACTUAL QTY、CONTRACT TAX RATE(%)
contract ccy should match with fixed pricing ccy
contract tax rate match with settlement tax rate
contract ccy match with fixed pricing ccy
contract actual price with settlement price
contract actual qty with settlement qty
You can now click on an individual cell or highlight multiple cells to view aggregated summary at the bottom of all columns for all quantity and amount columns. If you click elsewhere, the aggregated summary will reset to default - sum up all columns.
To reallocate deals, you can click on the Setting button under Action column or tick multiple rows and click on Reallocate button. Fill in the Deal No.
If Deal No. is new, there will be no Physical Deal ID, you will need to fill in Deal Currency
If Deal No. is existing, Physical Deal ID and Deal Currency will auto appear
Please fill in the settlement data as necessary, only fields in red in the table are compulsory to be filled.
For auto-fill fields, please note that only empty fields will be autofilled, if the fields have values, it will not auto-update.
Trade ID：Input is not required, it will be auto-filled according to your inputs in Trades tab
Trade Date*：Input is not required, it will be auto-filled according to your inputs in Trades tab
Execution ID: Input is not required, it will be auto-filled according to your inputs in Trades tab
Product 产品：Input is not required, it will be auto-filled according to your inputs in Trades tab
Brand: Brand of product
Specification：Product specification, you may fill in for your reference if necessary, eg Product is Rubber and specification is XX1
Entity of Contract 公司名称：Input is not required, it will be auto-filled according to your inputs in Trades tab
Counterparty 客户名称：Input is not required, it will be auto-filled according to your inputs in Trades tab
Purchase/Sale 买/卖：Input is not required, it will be auto-filled according to your inputs in Trades tab
Match No.: Assign the same match number to the corresponding purchase and sale contracts for your reference
Contract Delivery Date
Trader 交易员：Input is not required, it will be auto-filled according to your inputs in Trades tab, can be edited
Contract No.：Input is not required, it will be auto-filled according to your inputs in Trades tab
Main Contract No.: Main contract number of individual contract number, you may input as necessary
Trade Mode *：
Offshore refers to offshore contracts - Cannot input 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
Entrepot - Can input Tax Rate and Exchange Rate (If Deal Currency and Product Currency are different), cannot input Custom Tax Rate
Offshore-Cross Ccy - Can input Tax Rate and Exchange Rate (If Deal Currency and Product Currency are different), cannot input Custom Tax Rate
EFP - Can input Tax Rate, cannot input Exchange Rate and Custom Tax Rate
Long Term - Can input Tax Rate, cannot input Exchange Rate and Custom Tax Rate
Deal No.: Deal number of the trade. This is non-editable and will automatically be displayed once it has been input in the Settlement tab (will be hidden by default, user can use the filter column function to display this column)
Phy Pricing ID: Input is not required, once you settled your trade, the ID will be generated automatically. (will be hidden by default, user can use the filter column function to display this column)
Unit*：Unit of contract/product eg metric ton
Deal Ccy: Deal currency
Pricing Mode: Input is not required, it will be auto-filled according to your pricing mode inputs in Settlement tab. It is indicate as WMA, FLOAT or SPOT according to the BM Pricing set up in Step b above. If Settlement Price is used instead, it will indicate as FIX.
Quantity*：Input is not required, it will be auto-filled according to your inputs in Trades tab. If the Settlement Qty is different from the Qty/Contract Actual Qty, it will be displayed in green in Qty/Contract Actual Qty.
Cat: Category, input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited
Title Transfer Date*: Input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited. It cannot be earlier than physical trade date and cannot be after today's date
Contract Actual Qty: Input is not required, it will be auto-filled according to your inputs in Settlement tab. If the Settlement Qty is different from the Qty/Contract Actual Qty, it will be displayed in green in Qty/Contract Actual Qty.
Contract Tax Rate (%)：The actual tax rate stipulated in the contract. If the Settlement Tax Rate is different from the Contract Tax Rate, it will be displayed in green in Contract Tax Rate. For this to be green, Phy Pricing ID must be filled.
Contract Pricing Date
Margin (%) : Collateral value % deposited with the counterparty
Provisional Price: Temporary price, will be used to calculate P/L if Estimated Price or Actual Price is not available yet. The system will follow this order of priority to calculate P/L if the price is available: Actual Price > Estimated Price > Contract Actual Price > Provisional Price
Contract Actual Price ： Input is not required, it will be auto-filled according to your inputs in Settlement tab. If the Settlement Price is different from the Contract Actual Price, it will be displayed in green in Contract Actual Price. For this to be green, Phy Pricing ID must be filled.
Contract Amount: Contract Actual Price*Contract Actual Quantity
if ACTUAL PRICE FLAG = TRUE, CONTRACT AMT = CONTRACT ACTUAL QTY * CONTRACT ACTUAL PRICE
If ACTUAL PRICE FLAG = FALSE, CONTRACT AMT = CONTRACT ACTUAL QTY * PROVISIONAL PRICE
Contract Ccy： Input is not required, it will be auto-filled according to your inputs in Settlement tab. if the Fixed Pricing Currency is different from the Contract Currency, it will be displayed in green here. For this to be green, Phy Pricing ID must be filled.
Contract Premium : The premium stipulated in the contract
Actual Price Flag：Once Contract Actual Price has been input, "True" will be displayed here, otherwise, it will display “False” in red.
Settlement Tax Rate (%): Tax rate for trade with settlement price. Tax rate for benchmark pricing has already been pre-set in physical pricing setting tab so this field cannot be used if benchmark pricing has been used instead of fixed pricing. This will only be applicable if your trade mode is not OFFSHORE. If the Settlement Tax Rate is different from the Contract Tax Rate, it will be displayed in green in Contract Tax Rate. For this to be green, Phy Pricing ID must be filled.
MTM Pricing*: MTM PRICING CODE of your product which has been pre-set in the physical pricing setting tab. The pricing index code selected will be used to benchmark the MTM of your trade. Tax rate for MTM pricing has already been pre-set in physical pricing setting tab. You do not need to select this if your deal number is an existing deal number with its own MTM pricing
Settlement Qty : Input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited. If the Settlement Qty is different from the Qty/Contract Actual Qty, it will be displayed in green in Qty/Contract Actual Qty.
Estd Price: Input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited. It will be used to calculate P/L if Actual Price is not available yet. The system will follow this order of priority to calculate P/L if the price is available: Settlement Price > Estimated Price > Provisional Price.
PRICE BEFORE TAX 不含税单价:
if trade mode = offshore:
PRICE BEFORE TAX = SETTLEMENT PRICE
if no SETTLEMENT PRICE, PRICE BEFORE TAX = ESTED.PRICE
if trade mode = import/export or offshore-cross ccy:
PRICE BEFORE TAX = SETTLEMENT PRICE * EXCHANGE RATE /(1+SETTLEMENT TAX RATE(%))
if no SETTLEMENT PRICE, PRICE BEFORE TAX = ESTED.PRICE *EXCHANGE RATE /(1+SETTLEMENT TAX RATE(%))
all other trade modes are just as original:
PRICE BEFORE TAX = SETTLEMENT PRICE/(1+SETTLEMENT TAX RATE(%))
Settlement Price: Input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited. Actual price transacted, will be used as priority to calculate P/L. The system will follow this order of priority to calculate P/L if the price is available: Settlement Price > Estimated Price > Contract Actual Price> Provisional Price. If the Settlement Price is different from the Contract Actual Price, it will be displayed in green in Contract Actual Price. For this to be green, Phy Pricing ID must be filled.
Fixed Pricing Ccy: Input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited. If the Fixed Pricing Currency is different from the Contract Currency, it will be displayed in green in Contract Currency,. For this to be green, Phy Pricing ID must be filled.
Premium: Premium of your benchmark pricing index (WMA, FLOAT or SPOT only). This will not be applicable for pricing mode (FIX). Input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited.
Exchange Rate: Input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited.This will only be applicable if your trade mode is IMPORT/EXPORT
Exchange Conversion Date: Date of exchange rate conversion. This is only supported in New Physical Trade page and not Old Physical Trade page. This will only be applicable if your trade mode is IMPORT/EXPORT. Input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited.
Custom Tax Amount: Custom tax amount applicable for the trade. This will only be applicable if your trade mode is IMPORT/EXPORT. Input is not required, it will be auto-filled according to your inputs in Settlement tab, can be edited.
SETTLEMENT AMT 结算金额:
SETTLEMENT AMT = SETTLEMENT QTY* SETTLEMENT PRICE/ESTED.PRICE (Same logic as PRICE BEFORE TAX)
SETTLEMENT AMT BEFORE TAX 不含税结算金额:
SETTLEMENT AMT BEFORE TAX = SETTLEMENT AMT/(1+SETTLEMENT TAX RATE(%))
SETTLEMENT AMT BEFORE TAX = PRICE BEFORE TAX * SETTLEMENT QTY
Pricing Date：Actual pricing date
Pricing Contract eg forward
BL No. ：Bill of lading or waybill number for import and export of goods.
Loadport：Loading port (port of shipment)
LP ETD：Estimated time of departure at the port of shipment, date format
Disport ：Unloading port (port of discharge)
DP ETA：Estimated time of arrival (unloading) at the port of discharge, date format
Warehouse ：Warehouse name, for record purpose only
Execution Status: Status of contract eg settled, pending etc
Stock Date: The latest stock in/stock out date recorded in Stock Management Function
WH Name & Status: Name of warehouse, each warehouse’s quantity balance and Stock Type recorded in Stock Management Function will be automatically reflected here. When your cursor hovers over the column, a pop up will appear with the details
Stock Qty: Stock In/Out quantity that has been recorded in Stock Management Function
Unstock Qty: Stock In/Out quantity that has not been recorded in Stock Management Function, Un-stocked Quantity = Quantity - Stock Quantity
PSL Amt: PS Ledger amount with PSL Type: Payment recorded in PS Ledger will be automatically reflected here
PSL Date: PS Ledger date with PSL Type: Payment recorded in PS Ledger will be automatically reflected here
Bal Amt: Balance Amount = Trade value - PS Ledger Amount will be automatically reflected here
Inv Qty: Invoice quantity with PSL Type: Invoice recorded in PS Ledger will be automatically reflected here
Inv Amt: Invoice amount with PSL Type: Invoice recorded in PS Ledger will be automatically reflected here
Un Inv Qty: Un-Invoiced Quantity = Quantity - Invoice Quantity will be automatically reflected here
Un Inv Amt: Un-Invoiced Amount = Trade Value - Invoice Amount will be automatically reflected here
Remarks：Remarks
Settlement Remarks
Once done, please click on Save Changes to save your data.