About Market Products
Market products are used to allocate market awards to market participants. Market products are referenced by the Market Award Allocation settlement calculation rule via a parent Market Product Set. Market products of class “Parent Allocation” can have child products. This allows definition of hierarchies of market products and related awards,
Market products are defined by the following:
• Market Product Set: The Market Product Set to which the Market Product is associated.
• Market Product Type: The Market Product Type for the market product. This defines the business object used to create the market product and its market awards. For formula-based products, the market product type also defines the formula used to calculate award allocation.
• Product Code: A unique code for the product, often provided by an external system
• Product Class: The type of product. The base package supports two product classes: Parent Allocation or Contract Fulfillment:
◦ Parent Allocation: Indicates that the market product is a parent level product that divides out a certain allocation of the total amount to be then divided further amongst child products.
◦ Contract Fulfillment: Indicates that the market product ties to an "end result" award that can then be tied to a Market Contract
• Execution Sequence: Defines the sequence in which the market product will be executed within its parent Market Product Set
• Awards: One or more Market Awards associated with the market product. These define how load and procurement are allocated when the market product is processed by the Market Award Allocation settlement calculation rule.