Valuation Outputs

Updated by Sameer Soleja

Molecule outputs calculations, trade attributes, custom fields, and more on Valuation outputs. Below is a brief catalog of columns and their meanings.

Technical documentation on how to retrieve Valuation data via the API, is available at


These fields are taken directly from related models in Molecule. They are provided for easy reporting and diagnosis.


  • interest_rate: Account Interest rate used for option calculations


  • agreement_category: The Category field from any related agreement
  • agreement_description: The Description from any related agreement


  • commodity: The commodity that the Product represents.
  • currency: The Currency for the Trade's Product
  • energy_market: Submarket for the Trade's Product (i.e., real-time, day-ahead)
  • flavor: Type of option, i.e., European, American
  • instrument: Financial instrument (i.e., forward, swap, future, option, etc.)
  • iso: ISO/TSO for the Trade's Product
  • price_type: Text field from Product
  • pricing_component: Pricing component used for the Trade's Product (i.e., LMP, SPP, Congestion)
  • uom: The Trade Product's unit of measure


  • account: The company name on your Molecule account
  • alpha: For v1 formulas, the value at right of the equation, outside the last parenthesis
  • asset_name: Name for the related asset (for As-Gen trades)
  • block: For exchange trades, whether they were executed on a screen or "blocked in" by a broker. Material to allocation calculations.
  • book: The # book entered on the trade. There can only be one value.
  • broker / broker_name: The handle / long name of the introducing broker used for the trade.
  • call_put: Option Call or Put
  • cogs: Decimal field that comes directly from the trade
  • cogs_method: lifo, fifo, or wacog
  • contract_quantity: For an exchange trade, the number of lots
  • contract_start / contract_end: Start/end date of the subleg's tenor
  • counterparty: The long name of the external company the trade is with.
  • direction: buy or sell
  • fcm / fcm_name: The handle / long name of the Futures Clearing Merchant (aka Prime Brokerage) used for the trade.
  • interval_ending: For an hourly (or more granular) subleg, the ending period of the contract_start
  • notes: Text field from Trade
  • origin: The legal entity used from your account
  • po/so: Text field from Subleg
  • product / product_name: The ticker / long name of the trade's Product
  • serial: Text field
  • strike: Option Strike
  • tags: All the tags on the trade, including Book and Trader tags
  • trade_date: Date entered by the user (or defaulted), as the date the trade was made. This is the first day this subleg will produce valuation rows.
  • trade_executed_at: If set, the execution time of the trade (as opposed to the time it was booked in Molecule). Usually set for exchange trades originating from a Molecule feed.
  • trade_price: The trade's price per unit, as entered (or as resolved through a formula)
  • trader: The trader who executed the Trade
  • <name>_fees: Total value of the fees on this Trade, in this category.
  • normalized_quantity: The unit measure for trade quantity, normalized to a daily or hourly basis.
  • normalized_quantity_type: The standardized quantity type, indicating whether it is measured per day or per hour.

Audit Fields

A valuation row is typically created approximately when its parent trade is entered. It is updated when new market data for that as-of date arrives.

  • created_at: The date/time the valuation was calculated in Molecule
  • updated_at: The last date/time the valuation was updated in Molecule

Custom Fields

Custom fields from the Trade, as well as related objects, show up in Valuation outputs

  • <name>+ : Custom field from related trade
  • <name>:+b : Custom field from related book
  • <name>:+c : Custom field from related counterparty
  • <name>:+p : Custom field from product

ID Fields

IDs are typically integers, and are provided in Valuation outputs where a user might have a way to know them (i.e., Trade ID), or where they might be of value in a lookup on another model (i.e., Subleg ID).

  • asset_id: Unique ID for a related asset (for As-Gen Trades)
  • external_exec_id: ID provided to Molecule by an external system, like an exchange. Not unique.
  • friendly_id: Deprecated: ID just for your account; starts at 1 and has no gaps (other than deleted trades)
  • leg_id: Unique ID for the trade leg
  • mg_id: ID that is used to link trades in a group together. Defaulted to the oldest trade ID, but can also be any text
  • subleg_id: Unique ID for the trade subleg
  • trade_id: Unique ID for the trade, within Molecule (note: unique per Production environment). Will have gaps in the sequence.

Mark & Price Fields

  • formula: If applicable, the trade's Price formula
  • mark: The computed/found market price used for valuation calculations
  • mark_contract: The tenor of the mark that marked this trade
  • mark_product: The ticker of the Product used to mark this trade
  • mark_product_name: The long name of the Product used to mark this trade
  • original_trade_price: Trade price as entered, ignoring actualization
  • pricing_status: If using an advanced v2 Formula Price, whether pricing has started or is complete.
  • prior_mark: The market price used for the prior day's valuation. Used for daily change computation.
  • underlying_price: Underlying price used for Option calculations

Option Status Fields

  • abandon: Whether the option has been abandoned
  • exercised: Whether the option has been exercised (manually or automatically)
  • expired: Whether the option has expired worthless


These are the primary calculated outputs of the Valuation process.

  • as_of: Reporting date for which this line item is calculated
  • cash_flow: The amount of cash expected to move at settlement. For a physical, this is trade price * quantity. For a financial, this is the value of unrealized. On settlement date, both physical and financial have the value of realized.
  • contract_month: Start date of the subleg's tenor, rounded to the 1st of the month. Useful for grouping dailiy trades.
  • dodd_frank_notional_value: Trade price * unit quantity
  • explanation: P&L Attribution
  • first_notice_date: subleg's first notice date, as computed based on first notice rules.
  • intrinsic_value: Option intrinsic value (i.e., max(0, ((underlying - strike) * unit_quantity)) * direction). For linear instruments, this is set to unrealized.
  • months_to_expiry: Decimal representing time to expiry, in months
  • mtm_change: day-over-day change in Unrealized P&L
  • notional_value: Mark * unit quantity
  • payment_date: Payment date, as calculated from the Agreement or Trade Payment Date attribute
  • priced_mtm: If using an advanced v2 Formula Price, the mtm of the quantity that has priced.
  • prior_realized: Yesterday's realized value, if available
  • prior_unrealized: Yesterday's unrealized value, if available
  • realization_date: The date that Molecule expects the final market price to be available on this trade. On this date, Molecule will change the Status to Realized.
  • realized: The value of the trade that is realized; in other words, the value that is no longer exposed to a price movement.
  • realized_fees: Any fees on the trade, that have been set to accrue by the as-of date of this valuation
  • settlement: Financial or Physical
  • settlement_date: Date on which this subleg realizes. After this date, it will not produce any standard valuation rows.
  • status: Realized or Unrealized
  • time_to_expiry: Decimal representing time to expiry, in years. Used for option calculations
  • total_value_change: Today's realized + unrealized value, plus fees, minus yesterday's equivalent.
  • unpriced_mtm: If using an advanced v2 Formula Price, the mtm of the quantity that has not priced.
  • unrealized: The value of the trade that is still exposed to market price movements.
  • unrealized_fees: Any fees on the trade that have not been set to accrue as of the date of this valuation
  • valuation_completed: Boolean; true if this row's calculations completed successfully


These valuation outputs primarily matter for options.

  • delta: Option delta. For linear instruments, 1 * unit quantity.
  • vega: Option vega
  • theta: Option theta
  • gamma: Option gamma
  • realized_average_price: Average Price used for Asian/Average Price Option calculations
  • volatility: Volatility used for option calculations, expressed as a decimal (i.e., 0.01 for a 1% volatility)
  • volatility_method: Whether volatility was implied, or a given volatility was used
  • base_currency_total_value_change: Total Value Change, converted to your account's base currency
  • fx_change_factor: When multiplied by mtm_change, results in FX converted mtm_change
  • fx_mtm_change: MTM change, converted to your account's base currency.
  • fx_rate_used: Exchange rate used for FX calculations.
  • prior_fx_rate: Spot rate used for yesterday's FX calculations.
  • average_actual_price: Average Price used for Decay calculations
  • decayed_delta: Delta of the remaining trade quantity, using decay schedule
  • decayed_realized: Shadow realized value for intramonth P&L, for Products set to decay
  • decayed_unrealized: Shadow unrealized value for intramonth P&L, for Products set to decay. Note that this uses mark * (quantity-decayed quantity)

These fields are related to Molecule's automatic sensitivity analysis features.

  • high_mark, low_mark: High and Low underlying prices used
  • high_current_unrealized, low_current_unrealized: Standard unrealized calculations, adjusted for sensitivity
  • high_intrinsic_value, low_intrinsic_value: Standard intrinsic value calculations, adjusted for sensitivity
  • risk_adjustment: the risk adjustment rate applicable to the counterparty for this trade. Multiply against an unrealized value to get a risk-adjusted P&L.
  • interest_rate: interest rate used for computing the adjustment
  • discount_periods: n from the standard present value calculation used for risk adjustments
  • ir_discount_factor: calculated as (1 + interest_rate)^n

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