Valuation, PnL, MTM

Status: partial migration

Language: en
Mirror page: valuation-pnl-mtm.md

BR-PT-VAL-001 - Valuation covers purchase, sale, and sale-first flows

Source: BR-PT-004, BR-PT-006, BR-PT-011

PnL must exist for purchases and for sales, even when a sale is not yet matched to a purchase.

An unmatched sale.line must generate at least sale priced, sale fee, and derivative when applicable.
A basis sale with no price detail must still produce a zero line or the economic fallback price according to the applicable rule.
Do not arbitrarily attach a single sale when several sales are matched to the same open balance.

Source: BR-PT-005

The PnL reference must describe the nature of the valued line: purchase or sale, open or physical.

Allowed references: Purchase/Open, Purchase/Physic, Sale/Open, Sale/Physic.
A virtual lot must not be output with a physical reference.

Source: BR-PT-007

Mark-to-market applies to prices and derivatives, not to fees.

Source: session 2026-05-14

valuation_valuation_line represents the latest known PnL image. It is not a history table.

A new generation replaces the previous generation for the same economic reality.
An unmatched sale owns its own PnL.
A matched sale is owned by the linked purchase line.
The PnL of a matched sale must not be generated twice: once from the sale side and once from the purchase side.

Before creating rows in valuation.valuation.line, delete the current snapshot with the same economic identity.
Economic identity:
- sale_line when present, otherwise line;
- lot;
- type;
- reference;
- counterparty;
- product;
- state;
- strategy.
Do not include in the identity:
- date;
- price;
- quantity;
- amount;
- mtm_price;
- mtm.
These fields are recalculated results and must be replaced by the latest generation.
generate_from_sale_line() does not create a sale snapshot when the sale.line is already matched to a purchase.line; it redirects to the owner purchase line generation.