Overview
Book & exposure · Codex-sourced · live marks
Stage 3 · manual approvalLive
Net exposure
$3.2B
4 commodities · long physical
Hedge ratio
64%
of next-4-quarter production
VaR · 1d · 95%
$28.4M
limit $34M · 84% · 2-yr hist sim
MTM P&L
+$4.1M
unrealized · MTD
Position book
marks 14:32 UTC
CuCopper cathodelong12 kt$9,840▲
LiLithium carbonateshort800 t$14,200▼
NiNickel briquettelong2.1 kt$16,050▲
PwrPower · ISO/RTO LMPshort50 MW$48.20—
45XAdv. mfg creditslong$214M faceEXTP45X 0.91—
Pre-trade gateOFAC ✓limits ✓ISDA ✓
Risk · VaR / stress
$28.4M / $34M · 84%
VaR · 1d · 95%$28.4M2-yr historical simulation
Stress · FEOC designationclean premium collapse + forced de-designation MTM
−$180M
Copper net (CFTC + desk)
84%
Lithium net
91%
Nickel net
62%
Power LMP
77%
3/7 near · 0 hard breach
FEOC-clean premium
EFCI+$118/t
EFLI+$1,850/t
EFNI+$1,240/t
EFGI+$390/t
45X credit book
EXTP45X0.91
Face value$214M
Cash-equivalent$194.7M
Limits · full book
Single-CP credit (Bank B)
78%
Portfolio VaR
84%
Tenor concentration (Q3)
58%
Hard breaches0