Create Market Formulas

Market Formulas are used to define the different rules for how the prices are ultimately calculated. Such as, "Get last Wednesdays Market" or "Get the Previous Days Market."

Pre-Requisites

1.  Market Source

Step-by-Step Guide

1. Access the Master module.

2. Click Pricing.
   
   
   

3. Click Market Formula.
   
   
   

4. Click Add.
   
   
   

5. Specify a Code.
   
   
   

6. Select an Effective Date.
   This date represents the first start date of the pricing cycle.
   If the pricing starts on Sunday then the effective date should be the first Sunday the pricing begins,
   
   
   

7. Specify a Description.
   
   
   

8. Optional: Specify a Company - Division.
   
   
   

9. Click the Formula Days tab.
   
   
   

10. Select a Start Day option.
    
    
    

11. Optional: Select Exclude Saturday or Exclude Sunday.
    
    
    

12. If the Start Day option is not set to "Daily", specify a Hold Days value (in increments of 7 days).
    
    
    

13. Click into the Days Prior column and specify a value. See examples below.
    
    
    

14. Optional: For Formulas that are an average of multiple days markets, add any additional rows below the default / first row.
    
    
    

15. Click Save.

Formula Examples 

       To specify "Get last Wednesday market, effective on Monday, hold for 7 days."

• Start Day: Monday

•  Hold Days: 7

•  Day's Prior: 5

• Start Day: Sunday

• Hold Days: 14

•  Days Prior: 1

•  Effective Date: First Sunday start date of the pricing cycle.

•  Start Day: Daily

• Day's Prior: 1

          To specify "Get today's market."

• Start Day: Daily

• Day's Prior: 0