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cats:procedures:futures:addliquidatemovefutures

Working With Futures Trades in CATS

Physical trades and futures trades can both be tracked in CATS, allowing you to see both your physical and broker position. Hedges, currency hedges, and price-fixing trades are explained here.

Adding a Hedge Trade to an Item

First, navigate to a contract item using the Contracts > Sales (or Purchases) > Item menu option.

Accessing a contract item screen.

Here is a normal contract item screen, with no trades attached to it.

Purchase Contract Item Screen

From the toolbar, select Hedge/Fx > Add a futures trade.

Select Hedge Fx Screen

A box will pop up asking you to select the type of trade. Choose Commodity Hedge.

Choose Commodity Hedge

Enter the number of lots for this trade in the Units field.

Enter the number of lots screen

To modify the position, click on the Change button to the left of the position. Enter the exchange code and the position to be used for this trade. Pick Save to continue.

Click on change button

Pick Save on the Add Related Futures Transaction screen to proceed to adding details about the new hedge.

Enter the date and price to be used for this trade, then click the Apply button.

Enter date and price screen

CATS will add the trade to this contract item and will display the hedge trades on the screen.

Hedge trades screen

To review this trade, pick Hedge/Fx > Review futures trades > Open from the toolbar menu.

Review open trades menu

The program will show you a list of your trades for a quick review. A trade number has been automatically assigned to this trade by CATS.

List of trades for a review

To modify the price or date on this trade, use the menu to choose Hedge/Fx > Edit a futures trade.

Modify price or date screen

Pick the trade from the list, then click Continue to open it and change details. Make the necessary changes and pick Apply to save and return to the item screen.

Pick the trade from the list screen

Liquidating a Trade

To begin, click on Hedge/Fx > Liquidate a futures trade from the toolbar menu.

Liquidating a trade

CATS will show you a list of trades to choose from. Select the relevant trade and pick Continue.

List of trades screen

Enter the number of lots to liquidate for this trade. An optional memo number is available for your use.

Lots to liquidate screen

Select Apply to proceed with the liquidation process.

Select Apply to proceed with the liquidation.

Enter the date and price to use for this liquidation, then pick Apply to continue.

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Enter date ad price screen

CATS will show you a summary of the trade you are about to liquidate. Pick Hedge Trade to complete the liquidation.

Summary of trade liquidation screen

The trade will be liquidated and you will return to the item screen. To review this trade, pick Hedge/Fx > Review futures trades > Liquidated.

Review future trades menu

CATS will show you a summary of the trade, including the open and close prices for the trade.

Moving a Trade Forward

This procedure is accomplished in CATS by liquidating the original trade and adding a new trade with the new position month. Pick Hedge/Fx > Move a trade forward from the menu.

Move trade forward menu

A list of open trades will pop up. Select the trade and pick Continue to proceed.

List of open trade pop up

Enter the new position month you want CATS to use for the moved forward trade. Select Apply to continue to the moving trade details screen.

Enter new position for move forward trade screen

Enter the date and price to be used to close (liquidate) this trade. Pick Apply to proceed.

Date and price to close trade screen

CATS will show a summary of the original trade and the liquidation. Pick Hedge Trade to continue with moving the trade forward.

Pick hedge trade to continue with trade screen

The open new trade screen will pop up. Enter the new price and date to use for the new (moved forward) trade. Pick Apply to continue.

Open new trade screen

To review the trade you have liquidated, pick Hedge/Fx > Review a futures trade > Liquidated.

Review a futures trade menu

You will see a summary of the trade that was closed, including trade number and associated open and close price. Pick Continue to return to the item screen.

Select Hedge/Fx > Review a futures trade > Open to see the trade that was opened in the new position, replacing the liquidated trade and effectively moving the trade forward.

Review a futures trade menu

Select Continue to return to the item screen.

Select continue screen

These are just the basic features of working with hedges. We are preparing more information for you on the CATS futures module, but in the meantime we believe it's important to start entering trades into CATS.

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