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Profit and loss calculations are based on a realization date, which falls within a Reporting period.
| • | For physical contracts, realization happens when goods are both priced and delivered to a buyer. |
| o | Both the Incoming/Purchase and Outgoing/Sales sides of the delivery need to be priced. |
| • | Priced means the delivery line is either Fixed price or assigned to a Full Pricing. So, a physical trade is realized within a period when the most recent of the following three dates are within that period: |
| o | Purchase 100% pricing date |
| • | For futures, realization happens on the expiry date of the future. |
| • | For Forex, realization happens on the maturity date of the Forex contract. |
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