TRAFXS Systems - Exchanges
TRAFXS Exchanges Solution
The exchange subsystem processes daily receipts and deliveries to yield current balances for all products specified in a contract. Balances are maintained and reported by base product; exchange history by actual product may be retrieved using Contract History programs.
The exchange system also produces month-end statements for all partners. Summarized on the statement are deliveries and receipts (by base product and location), regrades, adjustments, and balances. Differentials are calculated for each transaction, and accumulated on the statement.
The system also supports exchange contract settlements, in which the agreement is closed, and outstanding balances are valued to yield a net financial position between partners.
Open-ended definition of differentials associated with each product/location combination. Each delivery (or receipt) corresponding to this product and location is assumed to generate the indicated differentials.
Line loss percentages by location; these are reported on the exchange statement.
Daily exchange control reports, which indicate (on both a detailed and summary basis) volumes of all products delivered and received on exchange during the day.
M-T-D exchange control reports, which indicate (on both a detailed and summary basis) volumes of all products delivered and received on exchange during the month.
Extensive exchange adjustment facility, in which regrade or differential (miscellaneous) adjustments may be posted at any time during the processing cycle. Adjustments are logged on a register at month-end, and appear on exchange statements.
Assignment of invoice numbers for exchange and settlement statements; balances on these statements are automatically updated to accounts receivable. An exchange register provides the required audit trail.
Automatic update of exchange and settlement statement detail to the general ledger. A G/L distribution report, which serves as an audit trail for these journals, is produced as part of exchange processing.