How to close a Commodity (update closing or base price)

Created by Erik Akerlund, Modified on Mon, 20 Feb 2023 at 02:30 PM by Erik Akerlund

When a commodity's closing price or base price is available either as fixed or average the commodity will turn up in commodity price view and will be shown on the widget Deals updated

How to close a commodity:

1. Go to Deals updated > Commodity prices

2. Select the commodities you want to set the closing price for

3. If Fixed for Floating click on Automatic  

The system will automatically set the cash price for the commodity and currency in 'Closing price' and calculate and show the 'Gain loss'. 

4. If Fixed for Average use either automatic (system will calculate the average closing price based on each days Cash        price) or manually ( -> a popup with all needed prices will appear and the average price can be entered manually). 

5. If Average for Fixed click on Manual 

6. In the Popup enter the average base price you want to set on all deals

7. Verify the Base Price and Base amount 

8. click Save

Note, in this case the automatic function does not work because the counterparties calculates the average differently.

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