Section two in the PHysical ap≠pli≠ca≠tion loosely covers the interim period from the new contract up to the pre≠pa≠ra≠tion of the shipments.
During it, traders and traffic staff use CMStrade to advance the contract in the context of their own and world data. Examples:
■ Buy-sell-stock match reservations.
■ Price fixation.
■ Costing adjustments.
■ Shipment planning.
No rigid order is imposed on these ope≠ra≠tions (except related ones) free≠ing the staff to react to events as they occur.
To inform them on these ope≠r≠a≠tions, the software provides specific reports plus detailed position and va≠lua≠tion reports.
This CMStrade concept of advancing the contract also allows the trader and tra≠f≠fic staff to finalise or refine avai≠la≠ble choices within the initial constraints of the contract, e.g. from an approximate to a precise commodity specification, or exercising physical options e.g. packing, port, etc.
A key element of this concept is to pre≠ser≠ve such replaced specifications and thus keep a full history of the contract.
All the operations are easy to do but are tested thoroughly for correctness, even relative to the new elements added in the contractís advancement, to ensure that the full contract stays coherent.
For information on Operations, Output
and Transactions, please see Data.
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