Managing Physical Trades

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With MAF Cloud, commodity trading businesses can seamlessly integrate the front, middle and back office activities to manage their physical commodities trading transactions, cargo & vessel operations and shipping logistics efficiently. The lifecycle of physical trades and deals can be monitored closely, beginning from the contractual and execution phase to the risk monitoring and settlement phase. This allows you and your team to collaborate on trade contracts and manage your paper and physical trading books/portfolios, and monitor their performance, positions, settlement and risks exposure according to your business requirements efficiently.

The features include:

  • Capturing, recording and monitoring of physical trades, deals, trade executions and pricing strategies
  • Providing auto-calculations of P/L positions and inventory management
  • Performing hedging through paper trades to mitigate associated risks
  • Organising and managing of paper and physical trades in portfolios to monitor P/L positions and exposures
  • Generating of quantitative analysis models such as Position Matrix and VaR model to monitor portfolio performance and risks

To access the 'Physical Trade' page, click 'Trade' from the navigation sidebar on the left, followed by 'Physical Trade'


TABLE OF CONTENTS:



Managing Physical Trade Table

All physical trades created will be displayed in the 'Physical Trade Data' table.

There are 5 tabs to select from:

  1. TRADES: Manage your trades and their associated trade executions.
  2. DEALS: Display the details of your deals and their associated trades.
  3. TERMS DETAILS: Manage the details of your term contracts.
  4. SHIPPING INSTRUCTION: Display the details of shipping instructions.
  5. EXPENSES & INCOMES: Display the details of your expenses and incomes.
  6. PAYMENT RECORDS: Display the details of your payment records.
  7. BULK TRADES UPLOAD: Upload physical trades in bulk.
  8. PHYSICAL PRICING SETTINGS: Pre-set pricing index for physical trades.

*Manage = Create, update, view and delete

Several functions are available to assist in the selection of physical trade data: 

  • Search bar: Search for keywords in the search bar for relevant data to be displayed
  • Table Headers: 'Sort' and 'Filter' data using the functions in the table headers (Please refer to Table Settings for table functionalities).


1. TRADES TAB

Viewing Physical Trades Table

To access this section, click on 'Trade', following by 'Physical Trades' from the navigation sidebar on the left. Click on the 'TRADES' tab at the top of the page to access this section.

Various information on each of your trades is provided in the table. You may refer to the List of Definitions: Trades page for a list of definitions for the column headings.

Note: 'Outstanding Qty' with any value above "0" infers that the trade is un-settled (no title transfer date - title of goods has not been transferred or received). So if the trade has been settled/completed, you will need to input the 'Title Transfer Date' in trade execution page for the 'Outstanding Qty' to be displayed as "0".

To add a new physical trade, click '+ New Trade' and you will be directed to Creating New Physical Trade(s).


To delete your trade, tick the checkbox of the trade and click 'Delete Row'.


Under 'Actions' in the table, click the 'Settings' button (represented by a 'gear' icon) in each row to display all types of functions.


A. Edit/View

Clicking this button will direct you to edit or view your physical trade. Follow through the steps to modify your data and click 'Submit' to save the changes.


B. Add Deal Trade

Clicking this button will direct you to add a deal trade to your physical trade.

This allows you to add additional trades within the same deal, to add to or close off your existing physical trades, for example if original physical trade is listed as 'Purchase', then adding a deal trade will automatically switch to 'Sell'. Creating new trades will automatically generate a deal in the 'DEALS' tab and adding a deal trade will join the existing deal. You may refer to DEALS for more details on how you can monitor your outstanding deals and the associated profit and loss.

The steps are the same as Creating New Physical Trade(s) and you can click 'Submit' when done.




C. Hedge

Clicking this button will direct you to create a new paper trade to hedge your physical trade exposure. The steps are the same as Creating New Paper Trade(s) and you can click 'Submit' when done.




D. Add Trade Execution

Click on the Edit/View Trade Execution button will direct you to the 'Physical Trade Execution' page. This allows you to add/edit/view associated physical trade execution to record and monitor the execution of your trades.


To add new trade execution, click on 'Add New Trade Execution' and select the pricing block and fill in the details accordingly. To, delete the trade execution, click on the 'Delete' button at the bottom of each trade execution.

Note: If you only have 1 trade, the pricing block will auto-select that trade. If you have multiple trades, you will need to select each trade in the pricing block in each trade execution panel (click 'Add New Operation Execution at the bottom of the page).


Fill in the necessary details required for the execution of your trade. All fields are optional and you may fill in as per normal. Once done, click 'Save' to save the trade execution details.

Split Quantity: To split the quantity in the trade to allow each quantity to have its own trade execution, click on the 'Edit' button and key in the quantity to split out from the total quantity. A new pricing block with the split quantity will be generated. You will need to click on the 'Add New Operation Execution' button at the bottom to select the new pricing block to create its trade execution.


The following fields will generate values automatically:

  • 'Pricing Block' will automatically be selected if you only have 1 pricing on your physical trade pricing page. Otherwise, you will need to manually select the pricing block to create its trade execution.
  • Provisional Value = 'Provisional Qty' * 'Provisional Price'
  • Final Price = Actual Price + Premium
  • Final Value = ('Actual Qty' or 'Converted Actual Qty') * 'Final Price' (quantity used will depend on the unit matched). Once you key in 'Actual Quantity', you will not be able to click 'Edit' to adjust the pricing quantity.
  • 'Demurrage Rate' can be obtained directly from Demurrage.


Note: If your pricing mode is FIX, you do not need to update the actual price in the trade execution page as it will be displayed automatically. If your premium/discount pricing mode is FIX, you can only edit your premium/discount details in the pricing page, and not in the trade execution page. If you have already keyed in "premium/discount" amount in the pricing page, the "actual price" you key in the trade execution page should exclude the "premium/discount" to prevent double counting. 

Inputting 'Title Transfer Date' will replace 'Trade Date' in PORTFOLIO page (under TRADES table). If 'Title Transfer Date' is removed, the original 'Trade Date' will be displayed. 'Title Transfer Date' cannot be after Today's Date.

Note: Title transfer date cannot be earlier than the physical trade date and cannot be after today's date.

Note: If ACTUAL QUANTITY, ACTUAL PRICE and TITLE TRANSFER DATE are not filled yet, the cells will be in red to remind you to fill in to settle the trade fully.


QTY DSP (Quantity Discrepancy) column: Sometimes, in one deal, buy and sell actual qty could not be 100% matched, e.g, bought 1001 MT, and sold 1001.2 MT (sometimes, weight could be changed due to some reasons like package changes, transportation issue etc). But for the system, it does not know if it is real difference or key wrongly, so it shows DEAL QTY DSP (dsp = discrepancy) for user to double check.

Shows Deal Qty Dsp column in red will indicate either.

  • Actual qty of purchase and sale contract is not equal, so prompts user to check, or

  • Actual qty of either purchase or sale contract is filled in, but not closed yet as either corresponding sale or purchase is not available yet. Will show in red as long as one trade has actual qty

if 1 trade does not have actual qty, system will not check so will not be in red

This issue only comes when user fills up all the key information and we do final check for them to make sure the trade is done


CURRENT LOGIC:

  • If the contract is not sold yet, P/L will remain as unrealised P/L, even when TITLE TRANSFER DATE is input. So once contract is sold, it will be closed and P/L will be realised P/L
  • To close a contract, ACTUAL PRICE and TITLE TRANSFER DATE must be input
  • Only contracts with the same CATEGORY can close each other
  • For contracts under the same CATEGORY, sales contract must have TITLE TRANSFER DATE and ACTUAL PRICE to close purchase contract; purchase contract will be closed on a FIFO basis; CLOSE DATE of the closed contract will be the same as the sales contract's TITLE TRANSFER DATE
  • HEDGE RATIO, POSITION MATRIX and PHYSICAL TRADE INVENTORY app will only show outstanding positions. If ESTIMATED PRICE or ACTUAL PRICE is input, the contract will not show in the app


In VIEW PORTFOLIO page,

  • If ACTUAL PRICE has been input but 'Title Transfer Date' is still empty, it will be considered as an OPEN POSITION (trade will appear in OPEN POSITION table) and PRICED IN will be TRUE. 
  • If ACTUAL PRICE has not been input but 'Title Transfer Date' is filled/not filled, it will be considered as an OPEN POSITION (trade will appear in OPEN POSITION table) and PRICED IN will be FALSE
  • If ACTUAL PRICE has been input and 'Title Transfer Date' is filled, it will be considered closed and the trade will appear in the CLOSED POSITION table and PRICED IN will be TRUE. 
  • If ESTIMATED PRICE has been input but ACTUAL PRICE is not input, and 'Title Transfer Date' is filled/not filled, it will be considered as an OPEN POSITION (trade will appear in OPEN POSITION table) and PRICED IN will be TRUE. 
  • In short, the trade will only be considered CLOSED if the ACTUAL PRICE and TITLE TRANSFER DATE are filled. Otherwise, the trade will remain in the OPEN POSITION table as unrealized P/L.
  • Once MTM positions are closed, they will not be shown in the CLOSED POSITIONS table and will only show in TRADES table


Note: ESTIMATED PRICE can only be filled if the pricing mode is not FIX; namely, FLOAT, WMA and SPOT.



VIEW PHYSICAL TRADE EXECUTION TAB (CALCULATIONS)

The columns will be auto-reflected once inputs are available:

  • PRE-FINAL QTY = ACTUAL QUANTITY or CONTRACT QTY: If ACTUAL QTY has been input, ACTUAL QTY will be displayed. Otherwise, CONTRACT QTY will be displayed instead.
  • PRE-FINAL PRICE = (ACTUAL PRICE or ESTIMATED PRICE) + premium: If ACTUAL PRICE is input, ACTUAL PRICE will be displayed. Otherwise, if ESTIMATED PRICE is input, ESTIMATED PRICE will be displayed instead. It will then be added with PREMIUM to form PRE-FINAL PRICE. If both ACTUAL PRICE and ESTIMATED PRICE are not input yet, this field will remain empty 
  • PRE-FINAL PRICE BEFORE TAX: PRE-FINAL PRICE/(1+tax rate) or CARGO VALUE BEFORE TAX / PRE-FINAL QTY
  • FINAL PRICE: ACTUAL PRICE + PREMIUM (if actual price has value)
  • CARGO VALUE = PRE-FINAL PRICE * PRE-FINAL QTY (this is offshore amount, sort of like purchase amount)
  • CARGO VALUE BEFORE TAX = CARGO VALUE * EXCHANGE RATE + CUSTOM TAX AMOUNT / (1+tax rate) eg cargo value before tax = cargo value (2k) * ex rate (5) + custom tax (10) [10010] / 1.05 (tax rate = 5%) = 9533.33
  • PRICED IN = TRUE (if actual price or estimated price has value), otherwise will be FALSE


EXCHANGE RATE

For example USD/CNY:

  1. 1st currency is the currency of the product in the physical trade pricing page, which is also the currency for FINAL VALUE

  2. 2nd currency is the settlement currency of the create physical trade page (under PAYMENT DETAILS), which is USD by default. 

If you input your own Exchange Rate on the trade execution page, it will replace the system’s exchange rate and provide calculations accordingly in Portfolio P/L Details model. Please note that the P/L calculations in View Portfolio page will continue to use system’s exchange rate and not use your own exchange rate.


CUSTOM TAX AMOUNT

  1. Any amount input here will be added automatically into the EXPENSES & INCOME table to indicate an expense and in the OTHERS column in the Portfolio P/L Details model.
  2. The default currency is the settlement currency of the create physical trade page (under PAYMENT DETAILS)


CARGO VALUE AMOUNT

To convert other currency into portfolio currency or deal currency, it will be divided by the exchange rate. If the product currency is eg CNY, then CARGO VALUE BEFORE TAX will divide by the exchange rate (will use input exchange rate, otherwise will use system exchange rate)


For example, if the product is LEAD, which is in CNY

eg exchange rate is 10; custom tax is 5

cargo value = actual qty * actual price = 5,000,000

cargo value before tax = 5,000,000 * 10 (ex rate) + 5 (custom tax) = 500,005


3 WAYS TO SPLIT QUANTITY OF TABLE

  1. Split quantity using pricing blocks in physical trade pricing page: Split quantity in trade to allow each quantity to have its own trade execution but physical trade details (eg counterparty) remain the same. This works the same as point 2. Click here to learn more.
    • In physical trade pricing page, click on the '+ Add Block' button and key in the quantity. You will need to ensure that the total quantity in the pricing blocks in this page match the 'Quantity' in the previous page (click the 'Back' button at the bottom to go back to the previous page).
  2. Split quantity using pricing blocks on trade execution page: Split quantity in trade to allow each quantity to have its own trade execution but physical trade details (eg counterparty) remain the same. This works the same as point 1.
    • In trade execution page, click on the 'Edit' button and key in the quantity to split out from the total quantity. A new pricing block with the split quantity will be generated. Click here to learn more.
  3. Split quantity using button in physical trade table: Split quantity in trade to allow allocation to different counterparties. Click here to learn more.
    • In physical trade table, click on the 'Settings' button followed by 'Split Trade' and key the quantity to be split to the new counterparty.



E. Reallocate Deal

To reallocate a trade into another deal, under 'Actions' in the table, click the 'Settings' button (represented by a 'gear' icon) of the row and click 'Reallocate Deal'.

You can choose to fill in:

a. Existing 'Physical Deal No': Trade will be reallocated directly into the existing deal. Note: If the to-be-reallocated trade's pricing details (BENCHMARK & MTM) have been filled or empty and the trade is reallocated into an existing deal with an existing pricing details, the quantity and the pricing method (BENCHMARK) of the trade will remain but the pricing method (MTM) will follow the deal that it is reallocated to. 

b. New 'Physical Deal No': Trade will be reallocated directly into the newly created deal (new deal number that you input).

'Physical Deal ID' will be automatically generated once you input the deal number. Click 'Confirm' when done and the trade will be allocated successfully into the deal. 





F. Split Trade

To split the quantity of a single trade and allocate it to another 'COUNTERPARTY', under 'Actions' in the table, click the 'Settings' button (represented by a 'gear' icon) of the row and click 'Split Trade'.


Fill in the 'NEW SPLIT QTY' (quantity to be allocated to new counterparty) and the 'NEW SPLIT COUNTERPARTY' (new counterparty name) and click 'Confirm' when done. This will give rise to two trades with the same details but of the adjusted quantity.

There are 3 ways to split quantity of a trade:

  1. Split quantity using pricing blocks in physical trade pricing page: Split quantity in trade to allow each quantity to have its own trade execution but physical trade details (eg counterparty) remain the same. This works the same as point 2. Click here to learn more.
    • In physical trade pricing page, click on the '+ Add Block' button and key in the quantity. You will need to ensure that the total quantity in the pricing blocks in this page match the 'Quantity' in the previous page (click 'Back' button at the bottom to go back to previous page).
  2. Split quantity using pricing blocks in trade execution page: Split quantity in trade to allow each quantity to have its own trade execution but physical trade details (eg counterparty) remain the same. This works the same as point 1.
    • In trade execution page, click on the 'Edit' button and key in the quantity to split out from the total quantity. A new pricing block with the split quantity will be generated. Click here to learn more.
  3. Split quantity using button in physical trade table: Split quantity in trade to allow allocation to different counterparties. Click here to learn more.
    • In physical trade table, click on the 'Settings' button followed by 'Split Trade' and key the quantity to be split to the new counterparty.



G. Duplicate Trade

To duplicate a single trade, under 'Actions' in the table, click the 'Settings' button (represented by a 'gear' icon) of the row and click 'Duplicate Trade'.


Only the 'DEAL NO.' is a compulsory item and you can choose to fill in:

a. Existing 'DEAL NO'': Duplicated trade will be allocated directly into the existing deal. Note: If the duplicated trade's pricing details (BENCHMARK & MTM) have been filled or empty and the duplicated trade is allocated into an existing deal with an existing pricing details, the quantity and the pricing method (BENCHMARK) of the trade will remain but the pricing method (MTM) will follow the deal that it is allocated to.

b. New 'DEAL NO': Duplicated trade will be allocated directly into the newly created deal (new deal number that you input).

SHIPPING MONTH/YEAR: Input the shipping month/year for your duplicated trade if necessary. 

DUPLICATE PRICINGS: Tick the checkbox to duplicate the pricing details of the selected trade into your duplicated trade. If untick, the pricing details in your duplicated trade will remain empty for your manual input.

You can click the blue '+' button to add new row(s) to duplicate the selected trade multiple times, such as for different months (add multiple rows and key in the months) To delete the row, click the red 'X' button.

Note: If your selected trade has trade execution, duplicating the trade will also duplicate its trade execution for the duplicated trade.

Click 'Confirm' once done and your trade will be duplicated successfully. This will give rise to duplicated trade(s) and if applicable, its duplicated trade execution(s).

Note: If the trade you duplicated uses Auto Running Number function to generate its contract number, the newly duplicated trade's contract number will be auto-generated in the next running number based on the Auto Running Number function. You may edit the contract number as necessary.

Note: If you duplicate a trade with multiple trade executions, the duplicated trade will have multiple trade executions too. But you will be required to enter the trade execution page to select the pricing block in order to view the P/L details accordingly.

You may refer to List of Definitions: Trades for the definitions.



Viewing Physical Trade Execution Table

All physical trade executions created will be displayed in the 'Physical Trade Execution' table.

To edit your trade, click on the 'Edit' button (represented by a 'pen and paper' icon) under the 'Actions' column of your trade. Modify your data accordingly and click 'Save' to save the changes.

To delete your trade, tick the checkbox of the trade and click 'Delete Trade Execution'.


Please refer to List of Definitions: Trades for the definitions of the fields.



2. DEALS TAB

This section displays the details of your deals and associated trades to allow you to monitor your outstanding and completed deals efficiently.

Once a trade has been created, it will automatically generate a deal in the 'DEALS' tab.

To access this section, click on 'Trade', following by 'Physical Trades' from the navigation sidebar on the left. Click on the 'DEALS' tab at the top of the page to access this section.

You will be able to view the outstanding quantity ('Outstanding Qty') of your cargo and the associated profit and loss ('Realised P/L', 'Unrealised P/L' and 'Total P/L') to allow you to make informed decisions accordingly. You may refer to the 'Physical Trades Table' at the bottom of the page as reference.

Several functions are available to assist in the selection of data: 

  • Search bar: Search for keywords in the search bar for relevant data to be displayed
  • Table Headers: 'Sort' and 'Filter'data using the functions in the table headers (Please refer to Table Settings for table functionalities).


Open/Closed Deals: Contract Quantity will be used to determine if the trades have been closed (purchase and sale transactions close each other off), and if closed, the 'Outstanding Qty' in "DEALS" tab will be displayed as "0".

Calculations: Actual Quantity (input in trade execution page) will be used for the calculations in the table, but if Actual Quantity is not input yet, the Contract Quantity will be used instead.


1. Click on the 'DEALS' tab at the top left corner of the page to view the details of your deal trades.

For example, in this case, 4,500 units ('OUTSTANDING QTY') have been purchased ("PURCHASE") and are outstanding as they have yet to be sold.


2. To close the trade, follow Step 9 & 10. In this case, the 'Purchase/Sale' field will be "SALE" and 'Quantity' will be "2,000" to reflect the sale position of the trade. Follow through the steps and click 'Submit' to save your trade.


3. Click on the 'DEALS' tab at the top left corner of the page to view the details of your deal trades.

Following the same example in Step 1 & 2, 2,000 units have been closed/sold and the 'OUTSTANDING QTY' will reflect the remaining outstanding quantity (4,500 purchased quantity - 2,000 sold quantity).


4. Follow through the same steps until all quantity are purchased/sold to close the term contract and 'OUTSTANDING QTY' will become "0".


Please refer to List of Definitions: Trades for the definitions of the fields.



3. SHIPPING INSTRUCTION TAB

Once your physical trade transactions and executions have been completed/settled/closed, you can use MAF Cloud system to generate a shipping instruction document from your trade execution and issue to your counterparties. The shipping instruction document will contain all the details needed to process your shipment and contain information that feeds directly into your Bills of Lading. All data input previously in the physical trades and trade executions sections will be directly linked here, saving you the hassle of manually creating your shipping instruction document from scratch!

To access this section, click on 'Trade', following by 'Physical Trades' from the navigation sidebar on the left. Click on the 'SHIPPING INSTRUCTIONS' tab at the top of the page to access this section.

This section allows you to view all the shipping instructions documents created in Creating a Shipping Instructions Document

Several functions are available to assist in the selection of data: 

  • Search bar: Search for keywords in the search bar for relevant data to be displayed
  • Table Headers: 'Sort' and 'Filter' data using the functions in the table headers (Please refer to Table Settings for table functionalities).

To edit the shipping instructions document, click on the 'Edit' button (represented by a 'pen and paper'  icon) located on the left of each row. To delete the shipping instructions document, tick the checkbox of the row and click on the 'Delete Row' button located above the table. You may also select multiple rows to delete.

image2021-3-8_12-22-58.png


This is a sample of the Shipping Instructions document generated:



4. EXPENSES & INCOMES TAB

This section displays the details of your expenses and incomes for all physical trades, categorised based on the Deal/Trade level. This means that you can allocate expense and income items directly into your deal or trade by selecting the respective 'DEAL NUMBER' or 'CONTRACT NUMBER' to link the costs. To link the items to the portfolio directly, click here to learn more. You will be able to create your invoice (payment record) here, which will be illustrated below.

To access this section, click on 'Trade', following by 'Physical Trades' from the navigation sidebar on the left. Click on the 'EXPENSES & INCOMES TAB' tab at the top of the page to access this section.

All trades created in the TRADES TAB will be automatically be displayed in this table as a Purchase/Sale (REF TYPE: PS) transaction. Please note that benchmark pricing and premium pricing have been combined together for easier reference.

You can add additional Expense/Income items eg warehouse costs here (which will be reflected as REF TYPE: EXP/INC), by clicking '+ Add Row' button located above the table. Input the details (cells highlighted in red are compulsory fields) in the row and click 'Save' once done. The costs will then be tagged to your deal/trade accordingly to account for P/L calculations. The 'EXP/INC' transaction input here will be reflected on the 'OTHERS' row of the PORTFOLIO P/L DETAILS MATRIX created in the 'Dashboard'. This amount will be reflected in the respective portfolios to calculate the actual P/L.

To delete a row, tick the checkbox of the row and click on the 'Delete Row' button located above the table. You may also select multiple rows to delete. You can scroll down to view the 'SUMMARY' table which acts like a pivot table and can be categorised and organised by groups according to your needs. You can click here to learn how to customise the table by arranging and filtering the columns based on your preference.

Several functions are available to assist in the selection of data: 

  • Search bar: Search for keywords in the search bar for relevant data to be displayed
  • Table Headers: 'Sort' and 'Filter'data using the functions in the table headers (Please refer to Table Settings for table functionalities).

Note: Debit will be an expense and credit will be an income. 



GENERATE INVOICE

To generate an invoice, select the relevant transactions by ticking their respective checkbox (you can select multiple transactions to include them into the same invoice) and clicking on the '+ Payment Record' button. You will be redirected to generate the invoice which will be saved and stored in the 'Payment Record' tab. 



Click here to learn more about creating an invoice.



OFFSET TRANSACTIONS

To combine or offset transactions and include them into the same invoice, select the relevant transactions by ticking their respective checkbox and click on the '+ Offset' button. 

Please note that you can only combine/offset 'PURCHASE/SALE (PS)' transactions (does not apply to transactions with REF TYPE: EXP/INC) that have the same 'DEAL NUMBER' and 'QUANTITY'.


Only 'EXP/INC DESCRIPTION' and 'COUNTERPARTY' are compulsory items and you can only click 'Confirm' after these fields are filled. 'COUNTERPARTY REF NO.' is an optional field that can be keyed in when necessary.


Once you offset/combine the transactions successfully, the quantity and unit price of the transactions will be offset/combined together. You can then tick the checkbox of the offset transactions and click 'Payment Record' to generate an invoice including the offset/combined transactions. Please note the following:

1. Offset: CREDIT and DEBIT items will offset each other, and with QUANTITY remaining the same, UNIT PRICE and AMOUNT will become "0".

Offset the 2 highlighted trades:


After offset:


2. Combine: CREDIT (DEBIT) AND CREDIT (DEBIT) items will combine together, and with QUANTITY remaining the same, UNIT PRICE will be added together.

Combine the 2 highlighted trades:


After offset:


To undo the offset, tick the checkbox of the row and click 'Delete Row'. The transactions you have offset previously will be displayed as per normal.


Please refer to List of Definitions: Trades for the definitions of the fields.



5. PAYMENT RECORDS

This section allows you to view outstanding and settled payment records in the form of stored invoices, which can be generated in the EXPENSES & INCOMES TAB. Newly created payment records will be displayed in either the Outstanding Payment Records or Settled Payment Records table. 

To access this section, click on 'Trade', following by 'Physical Trades' from the navigation sidebar on the left. Click on the 'PAYMENT RECORDS' tab at the top of the page to access this section.

Note: In general, Operations team will handle the Payment Records section and Accounts/Finance team will handle the Accounting section. When the accounts/finance team has received the actual paid/received amount, they can input in the Accounting section and allocate the amount to each invoice. With that, the team will be able to understand whether the invoices have been fully settled (found in Settled Payment Records table), partially settled or not settled (found in Outstanding Payment Records table) and undertake necessary actions accordingly.

Several functions are available to assist in the selection of data: 

  • Search bar: Search for keywords in the search bar for relevant data to be displayed
  • Table Headers: 'Sort' and 'Filter'data using the functions in the table headers (Please refer to Table Settings for table functionalities).

To edit the payment record, click on the 'Edit' button (represented by a 'pen and paper'  icon) located on the left of each row. To delete the payment record, tick the checkbox of the row and click on the 'Delete Row' button located above the table. You may also select multiple rows to delete.

To duplicate the payment record, click on the 'Copy' button (represented by '1 paper overlapping another paper') located on the left of each row. You will be directed to a duplicated page of the payment invoice for you to edit as necessary. Please be reminded to change the 'PAYMENT RECORD REF NO' (INVOICE NO.) as duplicated invoice number is not allowed, and please note that the 'ISSUE DATE' (INVOICE DATE) and 'CREDIT' items will not be duplicated. Click 'Save' once done to save your payment record.



Outstanding Payment Records Table

This table displays all the outstanding payment records (invoices) that you have created in EXPENSES & INCOMES TAB. This means that the invoice(s) has not been fully settled (not fully paid or received) or is partially settled by you and/or your counterparties (Outstanding Amount =/= 0; Balance Amount =/= Settled Amount). Scroll to the right in the table to view:

  • 'BALANCE AMOUNT': Total invoice amount to be received/paid from/by counterparties
  • 'SETTLED AMOUNT': Amount received/paid from/by counterparties
  • 'OUTSTANDING AMOUNT': Amount not received/paid from/by counterparties

In this example, it shows that the 'Balance Amount' of USD 1,000 has not been received by the counterparty yet, as 'Settled Amount' is 0 and 'Outstanding Amount' is USD 1,000.

For the 'SETTLED AMOUNT' to be filled, the Accounts/Finance team can input the received/paid amount in 'Bank Transaction' table under the 'Accounting' section and allocate to the invoice. Click here to learn more.



Settled Payment Records Table

This table displays all the settled payment records (invoices) that you have created in EXPENSES & INCOMES TAB. This means that the invoice(s) has been fully settled (fully paid or received) by you and/or your counterparties (Outstanding Amount = 0; Balance Amount = Settled Amount). Scroll to the right in the table to view:

  • 'BALANCE AMOUNT': Total invoice amount to be received/paid from/by counterparties
  • 'SETTLED AMOUNT': Amount received/paid from/by counterparties
  • 'OUTSTANDING AMOUNT': Amount not received/paid from/by counterparties

In this example, it shows that the 'Balance Amount' of USD 1,000 has been received by the counterparty, as 'Settled Amount' is USD 1,000 and 'Outstanding Amount' is 0.

For the 'SETTLED AMOUNT' to be filled, the Accounts/Finance team can input the received/paid amount in 'Bank Transaction' table under the 'Accounting' section and allocate to the invoice. Click here to learn more.


Please refer to List of Definitions: Trades for the definitions of the fields.


6. BULK TRADES UPLOAD

This section allows you to bulk-upload your physical trades by simply uploading your excel file. Your physical trades will be captured directly into the system and managed according to your business requirements efficiently. 

Important: Pricing index for Benchmark and MTM (pricing mode = Float/Ave, WMA or SPOT) should be pre-set first to facilitate bulk-uploading, please click here to set your pricing index first. If you have FIXED price, there is no need to create a pricing index.

Once you have set your physical pricing index in the Pricing Pricing Settings tabclick on 'Trade', following by 'Physical Trades' from the navigation sidebar on the left. Click on the 'BULK TRADES UPLOAD' tab at the top of the page to access this section. 

Click on 'Download Template' and fill in the details as necessary. Once done, return to the page and upload the file by hovering your mouse over the "..." from the top right corner and click 'Upload File'.

Once done, check to make sure there are no red highlighted cells and click 'Save' to submit. You will be directed to the physical trades table in the 'TRADES' tab to edit your physical trades or trade execution as per normal.


Key Info to be Filled in Template

Trade Date: Physical trade date on which trade was created

Deal ID: Unique Deal ID tagged to each portfolio, auto-generated by system

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

Trader: Name of trade

Trade Mode: 

[1: 'OFFSHORE',
2: 'DOMESTIC CHINA',
3: 'DELIVERY CHINA',
4: 'IMPORT/EXPORT'

If you select OFFSHORE, TAX RATE field cannot be filled which means that TAX RATE will be applicable for other trade modes other than OFFSHORE

If you select IMPORT/EXPORT, CUSTOM TAX and EXCHANGE RATE fields will be applicable for inputting.]

Contract No.: Contract number of the trade

Purchase/Sale: Indicate whether the trade is a purchase or sale contract

Entity of Contract: Name of your company

Counterparty: Name of counterparty

Counterparty Ref No.: Counterparty reference number

Product: Name of product

Spec: Specification of product

Category: Category of product

Quantity: Quantity traded. Please note that you are required to key in the contract quantity instead of the actual quantity in your contract into the 'Quantity' field. 

Unit: Unit of product

Deal CCY: Currency of deal

Title Trans Date: Title transfer date cannot be earlier than physical trade date and cannot be after today's date

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 fixed price. Fixed pricing will be empty if you select benchmark pricing. Tax rate for benchmark pricing has already been pre-set in physical pricing setting tab

Premium: Premium to your benchmark pricing index

Fixed Price: Fixed price of trade. Please note that to set the pricing for each trade, you can only choose either benchmark pricing or fixed price. Benchmark pricing will be empty if you select fixed pricing.

Fixed Pricing CCY: Currency for fixed price trade.

Tax Rate (%): Tax rate for fixed price trade. Tax rate for benchmark pricing has already been pre-set in physical pricing setting tab so this field will be empty if benchmark pricing has been used instead of fixed pricing. If you select OFFSHORE, TAX RATE field cannot be filled which means that TAX RATE will be applicable for other trade modes other than 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 existing deal number with its own MTM pricing.

Actual QTY: Actual quantity of trade

Ested. price: Estimated price of trade

Actual Price: Actual price of trade

Exchange Rate: Exchange rate used for the trade. This will only be applicable if your trade mode is IMPORT/EXPORT.

Custom Tax Amount: Custom tax amount applicable of the trade. This will only be applicable if your trade mode is IMPORT/EXPORT.



7. PHYSICAL PRICING SETTING

This section allows you to set up your physical trade pricing index (Benchmark & MTM - pricing mode = Float/Ave, WMA & Spot) here, which will be used in bulk trade uploadIf you have FIXED price, there is no need to create a pricing index.

To access this section, click on 'Trade', following by 'Physical Trades' from the navigation sidebar on the left. Click on the 'PHYSICAL PRICING SETTING' tab at the top of the page to access this section.

To add a new pricing index, click on 'Add Row' and fill in all the details as necessary (cells in red are compulsory fields.)

Pricing Code: Unique name to identify the pricing index

MAF Product ID: Product to use as a pricing index

Pricing Mode: Types of pricing mode, namely; Float/Ave, WMA and Spot

Trade Type: Financial instrument(s) used as an index to benchmark the pricing of your trades (Benchmark or Potential (MTM)

Premium: Premium to your benchmark index/MTM

Pricing Start: Start date of pricing, applicable for forward products

Pricing End: End date of pricing, applicable for forward products

Month: Contract month of pricing, applicable for futures products

Year: Contract year of pricing, applicable for futures products

Tax Rate: Tax rate applicable to the pricing of the index

Once done, please click 'Save' and the Pricing Code will be available for you to input in the 'Benchmark Pricing' or 'MTM Pricing' fields in the bulk trade upload

Please note that this section is equivalent to the pricing index setting as shown in the screenshot when manually creating your physical trade.



Functionality

Please refer to Table Settings and Table Layout Settings for table functionalities.

Definition of Terms

Please refer to List of Definitions: Trades.



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