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Derivatives is your futures ledger. Each entry is a fill: a futures trade your broker executed, for a number of lots of one contract month at one price. A lot is the exchange’s standard contract size, such as 10 tonnes. From the ledger you can see your net position and link each fill to the physical contract it hedges.
Available when the Derivatives module is turned on for your workspace. It also needs the Counterparties module, because every fill is booked against a broker. Allocating a fill to a contract also needs Contracts or Trades. Ask your workspace admin.

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Before you start

Two things need to be in place, usually by your admin:
  • Your brokers as counterparties with the Broker role. See Counterparties.
  • Futures instruments: each commodity and exchange you trade, with its tonnes per lot and currency. The fill form only offers instruments that are set up. See Futures instruments.

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The ledger

Open Derivatives in the sidebar. Until you log a fill, the ledger is empty and says so. The strip at the top shows one tile per open contract month: the instrument, the net lots long or short, the tonnage, the average price and the number of fills. Months that have expired are left out, since a leftover net there means a close wasn’t recorded rather than a real position. The table lists your fills: Workspaces that use the Hedging workflow also see Physical and Coverage, and workspaces connected to an external system see its sync status. See Hedging and External systems. Use the search box (ref, broker or month), Filter (commodity, broker, direction, allocation status) and Display (group by market, broker or allocation status, order by trade date, price or lots, and choose columns). Your layout is remembered, and an admin can set the workspace default. Allocation statuses:

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Log a fill

1

Open the form

Click + Manual entry.
2

Enter the fill

Pick the Commodity · Exchange, the Direction (Buy or Sell), Lots, the Contract symbol (for example Z6), Price, Trade date and Broker. Optionally add the Account and Sub-account (together), Exchange reference, Commission / lot, and the Purpose: Hedge or Speculative.
3

Save

Click Save. Lots must be a whole number and the price must be positive.
Fills can also arrive through the Hedging workflow, from hedge plans confirmed in the Inbox. See Hedging.

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A fill’s page

Click a fill to open it. You’ll see:
  • Trade: broker, instrument, month and year, lots (long or short), price, trade date, total value and commission.
  • Allocation: the contracts this fill is allocated to (see below).
  • Details: account, exchange reference, whether it was entered by an operator or the system, the source (manual entry or WhatsApp hedge), and the purpose.
  • Activity: when it was created and edited, and every allocation added or removed.
  • Any custom fields your admin has added.
You can edit or delete a fill that was entered by hand. Its commodity, exchange and contract symbol can’t be changed after creation, since allocations may already depend on them. To delete a fill, remove its allocations first, so no hedge history against a contract is lost. Fills that arrived through the Hedging workflow can’t be edited or deleted here.

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Allocate a fill to a contract

Allocating a fill says which physical contract it hedges, so you can see how much of each contract’s tonnage is covered.
1

Open the fill

Open the fill and go to Allocation.
2

Pick the contract

Under Add allocation, search by contract number. Purchase and sale contracts are both offered. A fill allocated to a sale contract is a fixation: it fixes that sale’s price.
3

Enter the lots

Type how many lots to allocate and click Add. You can’t allocate more lots than the fill has.
The card shows the running total, for example “8 of 10 lots · 80 of 100 MT hedged”, using the instrument’s tonnes per lot. A fill can be split across several contracts. Remove an allocation with its remove button. On the contract’s own page, the fills allocated to it are listed with their lots. See Contracts.

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Brokers

Each broker’s counterparty page has a Futures section with its fills, net lots by month, average prices and a chart of fill prices by contract month. On the counterparty list, a broker’s row shows its number of fills and open lots. See Counterparties.

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Next steps

Hedging

Hedge plans and broker requests in the Inbox.

Contracts

See the fills allocated to each physical contract.

Workspace settings

Set up futures instruments.