To setup a new specification go to Reference Data and then to the Specification tab.
In CoreTRM, specifications are used in physical deal entry. Specification can be setup to automatically calculate premium or discount to be applied to the final price of the physical deal.
To set up a new specification:
1. Click on to create a new line.
2. In Specification Name, enter the name of the specification.
3. In Specification Description, enter applicable description for the specification.
4. In Adjustment Type, select the type of adjustment associated with this specification.
Premium for Higher/ Penalty for Lower: If the actual value is higher than the contract value, a premium is applied to the final price of the physical deal and vice versa.
Penalty for Higher/ Premium for Lower: If the actual value is higher than the contract value, a penalty/discount is applied to the final price of the physical deal and vice versa.
5. Click to confirm creation.
6. To edit specification details after creation, Click to edit.