Nine core report types — from exposure to VaR — and the End-of-Day process that produces them. Scroll to explore what each report does, who consumes it, and what goes wrong when it's wrong.
The EoD (End of Day) process runs each night: ingest prices, compute curves, recalculate exposure and MtM/PnL, value inventory, update credit, run invoicing, and push data to scheduling/accounting/ERP. Think of it as running every trade through the lifecycle every day.
It must complete on time so reports land on desks by morning. Failure handling, fallbacks (e.g. missing prices), and lean design are critical.
The exposure report tells traders how long or short they are — the volume (and value) of commodity that is unhedged and therefore exposed to market moves. Built per book, commodity, or geography. Wrong exposure → wrong hedging → unintended speculation.
Reflects inventory levels across the supply chain — tanks, pipelines, trucks, ships, underground storage. Crucial for traders and operations to know how much commodity is on hand and how much needs to be bought or sold.
ETRM captures storage asset master data (type, location, size, rates, product, capacity) and often integrates with specialized optimization software. Valuation uses FIFO, LIFO, WAC, or MtM.
One of the core ETRM outputs. Extends the exposure report by adding the price dimension: MtM = Volume × Price. Answers "What are my positions worth today at market?"
Wrong prices propagate to wrong MtM, P&L, invoices, and settlements — so price check and reconciliation are critical. For power and long-dated commodities, MtM can involve millions of data points.
Shows profit or loss and attributes the change to specific drivers: flat price, FX, new/amended/canceled trades, quantity, pricing date, costs, interest, and "other." Delivered crisp and on time as part of EoD.
Engineering P&L reporting is one of the most challenging and rewarding tasks for an ETRM BA. It requires understanding trade context, IT landscape, and the many costs in energy trades.
An ETRM without correct prices is "a car without brakes." The price check report reconciles prices in the ETRM with the price provider. Any delta must be analyzed and fixed so downstream valuation is correct.
Issues include overnight copy failures, server/network problems, exchange holidays, and master data mismatches.
Reveals how much the firm owes or is owed by counterparties — i.e. exposure to counterparty credit risk. Credit departments assess counterparty quality and set limits. Netting aggregates buy/sell with the same counterparty to one net value.
Physical trades create exposure that the paper desk hedges on exchange. The trade recon report matches ETRM to the clearer/broker: quantities, prices, fees, accounts, margin. Breaks are investigated by the ETRM BA to find root cause.
VaR answers "How much could we lose over a given period and with what probability?" E.g. 99% one-month VaR of $50k means there is a 1% chance losses exceed $50k. Methods: historical simulation, parametric, Monte Carlo.