Contract Creation
A contract is initiated by the trader using the "contract creation option".

ITAS provides error checking and other controls by requiring a number of compulsory data fields. Once accepted, the trader is prompted to enter the estimated cost of contract execution. E.g. Freight, insurance etc. Forex and Futures hedging can also be entered at this stage. The completed contract can then be emailed, telexed, faxed or hard copied. Once transmitted, a non-amendable copy of the contract is stored in the system. An integrated document management system provides ease of retrieval for all documents.

Update Open Position
Once the contract is confirmed, the "shipping month" position is updated. The position is presented using the common denominator for each commodity (metric tons, barrels, bushels etc). The position report includes both physical and futures contracts.

Valuation Of Open Position
Valuation of the company open position is always maintained. If the commodity has a futures market, and live feed is available from a market price provider (e.g. bloomberg/reuters) real time open position valuation is possible. If live feed is not available, current market values have to be maintained manually by traders.