SDAY - Daily Commodity Report
What is SDAY
The purpose of SDAY is:-
a) summarise the company position (i.e. applying Our Share per Department specification), basis the business-to-date and illustrate the movement on the day. The summary data is controlled by S01 setting (ctrl30_sdayposn) which allows for ALL positions (Open record status) or Unallocated Positions only and other variations.
b) summarise the Price risk accounts
c) report the tenders position
d) report the AB and EU licence position
e) report new business and specific amendments, subset of NEWBIZ procedure using TRADENET option. The specific amendments to the TRS, TRADE, FX primary datasets are recognised as those fields that have been marked (in gf/IDD) for ‘special audit’ reporting.
The positions can be ‘updated’ with temporary adjustments in the summary grid, mouse right click feature. These adjustments can be reviewed in SPOS and by the next days’ SDAY movement review. The ‘movement’ review (mouse right click) illustrates a simple summary of grid +/- tons with the 5th section of SDAY showing the full audit detail.
The columns represent the trading periods as maintained in TRADE with the physicals using the Valuation Period (unless absolute valuation then period = SPOT). The S01 setting (Physicals/page 5/ctrl30_sdayposn) can be used to apply Position Period as an alternative. There are other summary/reporting settings that can be applied in S01 – seepage 5.
Overnight processing will secure a COB form for the previous day for the 4 sections’ of position data. At any time the FROZEN tables and ‘pages’ can be refreshed in SDAY by use of the ‘freeze’ tickbox in the ‘Produce Daily Reports’ section. The FREEZE will ignore new business dated today and the REFRESH will use yesterdays TPRICE and FXR rates. Note that the secured report (OPRINT) and the separate sections for viewing will use the SDAY frozen data so if FXR or TPRICE prices/rates have been changed then the SDAY will need to be ‘Refreshed’ and a new version of all reports secured in OPRINT to support the ‘next day’ review of movements.
There are compare features with Previous working day secured results and the drill down will show 2 columns of current and previous TRADE records for audit of the movement. Note that the comparison can show a movement of currency equivalent value, even if no position movement. This will be due to FXR rates used for the frozen date on any conversions to target currency.
In the Price Risk view, a report can be produced showing daily movement, month-to-date and year-to-date movements. The values used are the frozen results with any report Currency Equivalence totaling using the applicable day rates for the column.
The 4 sections are:
a) ‘Physical Accounts’ separated into sections by the PHYSCODES/Commodity group code. Note that any TCCM related markets will also need their hedge group code set up (3rd party codes tab). The majority of the rows are fixed with the pricing-to-come reporting a row for each fix type. The columns are determined by TRADE and TERM data, Pricing rows will use their fix month, priced TRADEs will use their ‘position month’ and F&O will use their prompt month.
Amendments as regards a tonnage movement +/- can be manually entered and applied to the COB summary and used in the company totaling in the SPOS report. Brokerage contracts, 3rd party contracts, Written-off tonnage and all closed contracts are excluded from the report. TRADE tonnage that has been marked as being Sales Invoiced is also excluded from the analysis.
b) ‘Price Risk Accounts’. There is a section for each account that has been coded in DEPT with a category of ‘WR’. The content of each section are the open F&O trades that are assigned to those departments reporting lots, variation margin and for options their delta position and any premiums paid/received. The settled Futures values are located in the account nominated in DEPT in ‘Futures Sett Account’ column, whereby Sugar type companies will locate all balances for the NOM title account and Cocoa/coffee will use the explicit account nominated and filter the transactions by their dept coding. Open FX is also secured/viewed in currency pairs per Maturity MONTH with a row for Dealt amount, Settled amount and current Margin.
c) ‘Tenders Position’. This will report for each department/commodity the net position of Futures trades that have been classified as Tenders i.e. the TERM x CODE = ‘TDR’
d) ‘Unassigned Licences’ AB and EU licence analysis
The 5th section of the SDAY report is the new business with sections of, ‘Normal Physicals’, Brokerage contracts, Licences, 3rd party Contracts, Quotations, Futures and Options. This section also includes audit amendments of IDD user specific fields that would impact on position movement e.g. tonnage, number of lots, period ..