Trading Commercial margin

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16 Terms

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What is TCM?

Trading control margin. Measuring trading performance using all elements that a trader can control

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5 components of TCM?

  1. Sales Rev

  2. Purchase Costs

  3. Derivative Impacts

  4. Ancillary Costs

  5. Capital Charge Costs

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Not included in TCM?

  • Inventory effect

  • Overhead

  • Income tax

  • Equity income

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Factors that impact TCM? Data, where does it come from, and how is it entered into system?

  • Volume

  • Incoterms + Location

  • Price

  • Pricing Dates

  • Formula

  • Derivatives

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Ancillary Costs

  • Marine Transporation

  • Demurrage

  • Pipeline Transportation/tankil

  • RIN/RVO

  • Inspection

  • Payables/Receivables (deviation from standard terms)

  • Inveost

  • Brokerage Fee

  • Additional miscellaneous charges:

    • Oil loss

    • Oil spill tax

    • Duty drawback

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