Abstract:
Methods and systems for interacting with volumetric position analysis by means of graphical, tabular, and summary tools are disclosed. The tools aid users to quickly understand information about a portfolio of trades, and to quickly identify positions that may need to be hedged with financial and/or physical instruments and/or commodities.

Description:
CROSS-REFERENCE TO RELATED APPLICATIONS 
       [0001]    This application claims priority to U.S. provisional application No. 61/788,003, filed Mar. 15, 2013 and U.S. Provisional Application No. 61/788,096, also filed on Mar. 15, 2013, the contents which applications are entirely incorporated by reference herein. 
     
    
     TECHNICAL FIELD 
       [0002]    The present disclosure relates generally to a system that supports the buying and selling of standardized or over-the-counter financial instruments and/or physical contracts and/or commodities. In particular it relates to a means for displaying the results of volumetric position calculations in visually useful manner over a relevant range. 
       BACKGROUND 
       [0003]    Financial instruments, such as futures and swaps, and physical contracts, such as forwards, are commonly used to help people and organizations mitigate various risks. These risks can include, but are not limited to, the risk that the seller of a commodity will default, and the risk that the price of a commodity will increase drastically just before a buyer needs the commodity. Companies commonly engage in the buying or selling of financial instruments or physical contracts (herein referred to as “trades”), many times throughout the course of a year. Some companies have one active (i.e., not yet completed contract) trade at any given time, and some companies have thousands, or even tens of thousands. Energy companies purchase electrical power from producers for delivery at a later time according to agreed schedules. Purchased power does not always coincide with the amount of power that an energy company anticipates will be required by consumers. The extent to which anticipated demand for power exceeds purchased supply is known as an “unhedged” position. 
     
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
         [0004]    The following drawings form part of the present specification and are included to further demonstrate certain aspects of the present disclosure. The disclosure may be better understood by reference to one or more of these drawings in combination with the detailed description of the non-limiting embodiments presented herein. 
           [0005]      FIG. 1  illustrates an example method of presenting volumetric position analysis for a portfolio of commodities; 
           [0006]      FIG. 2  is a graphical representation of a company&#39;s volumetric position with regard to native positions and trades; 
           [0007]      FIG. 3  illustrates a tabular representation of the same information as  FIG. 2 ; 
           [0008]      FIG. 4  is a view of native positions, data required to compare volumetric positions (once it&#39;s entered into the system); 
           [0009]      FIG. 5  is another view of data required to compare volumetric positions (before it&#39;s entered into the system); 
           [0010]      FIG. 6  is a summary view of a company&#39;s volumetric position with regard to native positions and trades, for an entire portfolio; and 
           [0011]      FIG. 7  illustrates an example embodiment of a system  700  for analyzing volumetric position within this disclosure. 
       
    
    
     DETAILED DESCRIPTION 
       [0012]    In order to, among other things, determine the specifics of the trades that would beneficial to a company, a company might want to know its “native position,” or how much of a specific commodity it believes it will need during some future period, and its inventory of that commodity over the same period, (its “trade position”)—in other words, the impact of the trades it has made. Comparison of these values can yield useful information for making important decisions, such as for example, whether additional quantities of a specific commodity should be purchased (or sold), or whether derivatives relating to such commodities are warranted. For example, if analysis indicates a possible shortfall in a needed commodity, calls could be purchased covering the period of the anticipated shortfall. 
         [0013]    Detailed descriptions of embodiments of the present disclosure are disclosed herein, however, it is to be understood that the disclosed embodiments are merely exemplary of the method that may be embodied in various and alternative forms. While the embodiments herein relate to energy and power commodities, it will be understood that the principles discussed herein can be practiced with regard to other commodities and with regard to financial instruments generally. The figures are not necessarily to scale. Some features may be exaggerated or minimized to show details of particular components. Therefore, specific structural and functional details disclosed herein are not to be interpreted as limiting, but merely as a basis for the claims and as a representative basis for teaching one skilled in the art to variously employ the present method. 
         [0014]    Throughout this disclosure, the following definitions apply: 
         [0015]    “Volumetric position” (also known as “trade position”) includes, but is not limited to, the amount of securities or commodities held by a person, firm, or institution. Volumetric position (or trade positions) includes the amount of a commodity purchased for delivery at a specified time, place, and/or date. 
         [0016]    “Native position” includes, but is not limited to the amount of securities or commodities which a person, firm, or institution, anticipates will have to be delivered by the person, firm or institution and/or which the person, firm or institution is contractually obligated to deliver. 
         [0017]    “Coupled” means joined immediately and/or indirectly, and means in signal communication. 
         [0018]    Organizations commonly view their volumetric positions in the form of a table, in which each type of wholesale contract, and the amount of each commodity they have bought, is displayed alongside their native position in a corresponding commodity. It can be difficult to glean important information about the amount of energy commodities that need to be bought or sold by a company, simply by consulting such a table. Presented within at least one embodiment within this disclosure is a means to interact with volumetric position analysis in a way that will produce more meaningful and useful information. 
         [0019]    At least one embodiment within this disclosure is a method of presenting volumetric position analysis for a portfolio of commodities. The method can include: receiving at least one input corresponding to a selection of a relevant date range; receiving information corresponding to a trade position series with respect to a commodity during the selected range; receiving information corresponding to a native position series with respect to the commodity during the selected range; and rendering the trade position series and the native position series in a single graph. 
         [0020]    In at least one embodiment within this disclosure, the commodity referenced above can be electrical power. In at least one embodiment within this disclosure, a trade position series can correspond to electrical power purchased for delivery during the relevant date range. In at least one embodiment within this disclosure, the native position series can correspond to electrical power anticipated to be demanded by a firm&#39;s consumers during the relevant date range. In at least one embodiment within this disclosure, the native position series can correspond to electrical power contractually promised to consumers during the relevant date range. 
         [0021]    At least one embodiment is a method of presenting a volumetric position analysis for a portfolio of commodities trades and hedging needs, in graphical, tabular, and summarized form, so as to draw attention to the important information inherent in the analysis. The method can include entering individual trades which are representative of a position with respect to a commodity. The method can further include calculating contents of individual trades with respect to the commodity to determine at least one volume of trades for the commodity during specific intervals. The method can further include displaying the calculated contents in a graphical, a tabular, and a summarized form, for example. 
         [0022]    In at least one embodiment within this disclosure a method can also include presenting a graph composed of at least a first series and a second series. The first series can include a representation of a portfolio of physical commodities bought and/or sold in a relevant period. The second series can a representation of a native position of hedging needs. In at least one embodiment within this disclosure, the first series can be overlaid on the second series or the second series can be overlaid on the first series. Comparison of the overlaid series can serve as a useful visual tool in assessing the overall position of a company with regard to a given commodity. 
         [0023]    In at least one embodiment within this disclosure pertains to a graph displaying more information than can be easily consumed by a user and intelligently averages hourly data by groups of days, including weekdays, weekends, and North American Electric Reliability Corporation (NERC) holidays. 
         [0024]    In at least one embodiment of this disclosure, the relevant period discussed above can a twelve-hour period or a twenty-four hour period. These period lengths are only examples; other periods are possible within this disclosure. 
         [0025]    In at least one embodiment within this disclosure, a device can be configured to render a table that displays the result of volumetric position calculations for all or some trades in a portfolio. 
         [0026]    In at least one embodiment within this disclosure, a method of rendering volumetric information can include displaying a summary view that is visible throughout a system showing the results of volumetric position calculations for an entire portfolio, individual trades, or other sub-sections of a portfolio. 
         [0027]    At least one embodiment within this disclosure pertains to a method for analyzing native positions. The method can include, but is not limited to: uploading at least one spreadsheet template containing one or more native positions; determining the contents of the uploaded spreadsheet, to evaluate the volume being plotted at specific intervals; and displaying the results of the evaluation in graphical, tabular, and summarized form. 
         [0028]    In at least one embodiment within this disclosure, a graph that displays native positions and trades in terms of the volumes they represent is provided. The component parts of this graph include a series for the volume represented by trades, and a series for the volume represented by a native position. 
         [0029]    In at least one embodiment within this disclosure, the graph is shown or displayed near a table containing detailed information about each relevant period displayed and its associated volumes (otherwise known as “volumetric positions”, such as 3 MW for hour ending 0100 on Apr. 1, 2013). 
         [0030]    In at least one embodiment within this disclosure, as the data relevant to the viewer may vary, filters can be provided to limit or summarize what is displayed. Filters can include, but are not limited to: a) dates for which volumes are to be displayed, b) locations for which volumes are displayed, c) filters to remove weekends, weekdays, or NERC holidays from the graph, and d) filters to average information displayed over the period that is selected. 
         [0031]    In at least one embodiment within this disclosure, only summary information (for example, the amount of volume that has not been accounted for by trades, or the total volume of all trades in the portfolio) is displayed. This can be in the form of text that is displayed on the screen in a central location so as to draw attention to salient facts. 
         [0032]    At least one embodiment within this disclosure is a system for analyzing volumetric position. The system can include a device housing a display. The system can further include a processor coupled to the display and coupled to a non-transitory computer readable medium storing instructions that when executed by the processor, cause the processor to: receive at least one input corresponding to a selection of a relevant date range; receive information corresponding to a trade position series with respect to a commodity during the selected range; receive information corresponding to a native position series with respect to the commodity during the selected range; and render, on the display, the trade position series and the native position series in a single graph. 
         [0033]    In at least one embodiment of a system within this disclosure, the commodity discussed above can be electrical power and the trade position series corresponds to electrical power purchased for delivery during the relevant date range. The length of the relevant date range can be one month, or one year, or other suitable length of time. 
         [0034]    In at least one embodiment of a system within this disclosure, the native position series discussed above can correspond to electrical power anticipated to be demanded by at least one consumer user during the relevant date range. In at least one embodiment within this disclosure, the native position series can correspond to electrical power contractually promised to at least one consumer during the relevant date range. 
         [0035]    At least one embodiment within this disclosure is a system for presenting a volumetric position analysis for a portfolio of commodities trades and hedging needs, in graphical, tabular, and summarized form, so as to draw attention to the important information inherent in the analysis. Such a system can include: a display; a processor coupled to the display and coupled to a non-transitory computer readable medium storing instructions that when executed by the processor, cause the processor to: receive information corresponding to individual trades representative of a position with respect to a commodity; calculate the contents of individual trades with respect to the commodity to determine at least one volume of trades for the commodity during specific intervals; and display on the display, the calculated contents in a graphical, a tabular, and a summarized form. 
         [0036]    In at least one embodiment within this disclosure, the non-transitory computer readable medium can also store instructions that when executed by the processor, cause the processor to: display on the display a graph composed of at least a first series and a second series, the first series including a representation of a portfolio of physical commodities bought and sold in a relevant period, the second series including a representation of a native position of hedging needs. The first series can be overlaid on the second series or the second series is overlaid on the first series on the display. 
         [0037]    In at least one embodiment of a system within this disclosure, the non-transitory computer readable medium can further store instructions that when executed by the processor, cause the processor to display additional information including averages of hourly data organized by groups of days, including weekdays, weekends, and NERC holidays. In at least one embodiment within this disclosure, the non-transitory computer readable medium can also include instructions to control the display to display the results of the volumetric position calculations for all trades in a portfolio. The non-transitory memory can also include instructions to cause the display of a summary view that is visible throughout the system showing the result of volumetric position calculations for an entire portfolio, individual trades, or other sub-sections of a portfolio. 
         [0038]    Referring to the figures,  FIG. 1  illustrates an example method  100  of presenting volumetric position analysis for a portfolio of commodities. The method  100  begins at block  102 , in which at least one input corresponding to a selection of a relevant date range is received, (for example a user might elect to conduct a volumetric position analysis for the next twelve month). Once a date range has been selected, the method  100  can proceed to block  104 , in which information corresponding to a native position series with respect to a commodity during the selected range is received. For example a native position series could include information regarding all of the electrical power a company expects to be required to deliver during the next twelve months. The method  100  can then proceed to block  106 , in which information corresponding to a trade position series with respect to the commodity during the selected range. For example, a trade position series could include information about all of the electrical power a company has purchased for delivery during the next twelve months. The method  100  can then proceed to block  108 , in which the trade position series and the native position series are rendered or displayed in a single graph. 
         [0039]    An example of such a volumetric position graph is illustrated in  FIG. 2 . As illustrated in  FIG. 2 , a user can select a date range for filtering position using a date selector  1 . Also illustrated is an indicator  2 , which can indicated that averaged numbers are being displayed, as when the date range is greater than what can be usefully shown in detail on a display screen. Also illustrated is a toggle indicated  3 , which is selectable to enable a user to choose between weekday and weekend/NERC holiday positions. Also illustrated is a location selection tool  4 , which can enable a user to select a location at which receipt of a commodity and delivery of a commodity will take place.  FIG. 2  also illustrates plots corresponding a company&#39;s trade position  5  in a commodity (the amount it of the commodity it has purchased) and a company&#39;s native position  6  (the anticipated demand for the commodity, or the quantity of the commodity the company has agreed to provide to consumers). The series for the graph shows the relevant volumetric unit of measure  15  on the y-axis  7 , and the date or time  8  for flow of the energy on the x-axis  20 . Indicator  10  indicates the time at which the data was last updated. Also illustrated is a selectable icon or selectable text  9 . Selection of  9  can cause the position data ( 5 ,  6 ) to be displayed in tabular format, such as illustrated in  FIG. 3 . 
         [0040]    As further illustrated in  FIG. 3 , a tabular view  300  of a company&#39;s volumetric positions at each hour can be seen in the column headed “HE”, or Hour Ending, 3:00 AM. A column marked “unhedged”  4  shows the difference between the trades made and the native position, or load. The quantities under columns  302  correspond to anticipated quantities needed during the time blocks under the “HE” column  3 . The quantities under the “load” column  304  correspond to quantities already purchased for delivery from a supplier during the time blocks under the “HE” column  3 . 
         [0041]      FIG. 4  illustrates an example graphical user interface (GUI) used to assist in calculating positions as disclosed herein. Calculation of positions requires a set of native positions as shown in  FIG. 3 , which are uploaded to the system using the Upload button  1  and summarized using the graphs  42 . Indicators  46  indicate the locations to which the graphs  42  pertain. Also illustrated are graph-type indicators  45 ,  47  and  48  which indicate the type of graphs  42  that are being displayed in the GUI. An analysis drop down menu  49  is also shown, which can be used to display additional information. Also illustrated is a download template icon  44 . Selection of the download template icon  44  can cause a spreadsheet like that illustrated in  FIG. 5  to be displayed. 
         [0042]      FIG. 5  is a spreadsheet  500  showing the trade positions ( 508 ′,  508 ″) for a commodity. The top value in column A indicates the location at which the commodity is expected to be delivered, in this case, “HB Houston,” or the ERCOT Houston Hub. The dates  504  in column A are the dates are the dates under consideration. The numbers at the tops of columns B, C, D, E and F correspond to time periods ending in the last 15 minutes from the preceding period, with the first period beginning at one 1:00 am. So for example, examination of the spreadsheet  500  reveals that for the period from 1:00 am to 1:15 am, the company in question holds can expect to receive 5000 mega-watts of power at HB Houston. 
         [0043]      FIG. 6  illustrates a summary view  600  for a position analysis in which the total difference between “trade positions” and “loads” (native positions) for a company during a specific time period is shown. This can be for the upcoming month, as shown, or for the foreseeable future. Other parts of the position analysis can be summarized in this way (for example, the amount of 5×16 volume purchased at a specific location for the upcoming month). A position-type indicator  602  indicates that the value displayed  604  corresponds to an unhedged position (in other words the extent to which demand for electrical power exceeds the amount of power purchased). A location indicator  606  indicates that location for the unhedged position. In the example of  FIG. 6 , the position is for electrical power to be received by the company and delivered by the company at the “Houston Hub.” A date indicator  608  indicates the date for the position. In the example of  FIG. 6 , the period for the unhedged position is May 12, 2013. 
         [0044]      FIG. 7  illustrates an example embodiment of a system  700  for analyzing volumetric position within this disclosure. The system  700  can include an electronic device  701  (such as for example, a personal computer) having a display  710 . The device  701  can include a processor  704  which is coupled to the display  710  and which is coupled to a non-transitory computer readable medium  702  storing instructions that when executed by the processor  704 , cause the processor to perform the following functions: a) receive from an external source such as the internet  708  or an input device such as a keyboard  706 , at least one input corresponding to a selection of a relevant date range; b) receive from the external source ( 706 ,  708 ) information corresponding to a trade position series with respect to a commodity during the selected range; c) receive information from the external source ( 706 ,  708 ) corresponding to a native position series with respect to the commodity during the selected range; and d) render, on the display  710 , the trade position series and the native position series in a single graph. The processor  704  can store received information and information pertaining to the rendered trade position series and native position series in a database  712  for subsequent retrieval and analysis. 
         [0045]    The devices, systems and methods disclosed and claimed herein can be made and executed without undue experimentation in light of the present disclosure. While the device and methods of this disclosure have been described in terms of preferred embodiments, it will be apparent to those of skill in the art that variations may be applied to the device and methods and in the steps or in the sequence of steps of the methods described herein without departing from the concept and scope of this disclosure. All such similar substitutes and modifications apparent to those skilled in the art are deemed to be within the spirit, scope and concepts of the disclosure as set forth in the following claims.