Buyer Tools Prompt Offers

Buyer - Prompt Offers

Prompt Offers

What are Prompt Offers?

Prompt Offers represent offers from partner sellers on currently available products at the currently published real-time price.

The Prompt Offers page provide access to tabs for submitting and managing market orders and bids for currently available products.

Tabs available within Prompt Offers includes:

  • Prompt Offers

  • Manage Bids

  • Trade Report

  • Posted Prices

  • Terms

Market Orders versus Bids

Market Orders

Market Orders are used for placing an order at the same price as offered by the partner seller. Buyers can place a market order at the seller’s offer price, as long as the following requirements are met:

  • The seller has set the offer to be available for market orders.

  • The order quantity must be equal to or greater than the minimum order quantity set by the seller.

  • The order quantity is in the increments that have been specified by the seller.

  • The seller must have sufficient inventory to fill the order.

  If the seller does not have adequate inventory listed on DTN Exchange to fill a market order, the buyer has the option to place a bid for the seller’s remaining inventory. The bid price on the remaining inventory is determined by the seller’s current offer price. Once a trade is matched, it can only be canceled through DTN Exchange by the seller.

Once you have confirmed your market order, the trade happens instantly. DTN Exchange system performs the following:

  • Updates the Status column on the Manage Bids tab to match.

  • Sends a trade notification of the matched trades to both the buyer and seller.

Bids

You can bid below the seller’s offer price to take advantage of a softening market or quantity discounts. The status of a bid is active on DTN Exchange until it matches or meets the expiration date and time that you specified when creating the bid. Once the bid has been accepted the status becomes matched. While the status is active, you can edit or cancel the bid.

Prompt Offers overview

Depending on how the seller has set up their DTN Exchange, a bid can match into a market order when either the seller chooses to accept the bid manually, or when the seller’s offer price moves down to equal the bid price.

The Prompt Offers page displays all the current market offers available to you from your partner sellers. Through the use of filters, you can specify the kinds of products you want to buy as well as the terminals where you want to do business. Finally, you can submit a market order for the price offered by a seller or place a new bid with the price you want.

The Prompt Offers page is divided into the following panes:

  • Prompt Offers tabs: Able to navigate to the Manage Bids, Trade Report, Posted Prices, or Terms pages.

  • Prompt Offers filters: creates a Price Report that contains those products and locations that interest you.

  • Price Report: lists seller offers for the products and terminals that match the selection criteria of the Offers/Orders filters. The page provides two views:

    • Real Time Prices are based on current offers from your authorized sellers.

    • Posted Prices provides a comparison of posted prices on a terminal and city-wide basis against real time prices. You can use that information to help you determine the best buy on a product.

Prompt Offers filters

The Prompt Offers filters pane allows you to filter through the following:

Prompt Offers Filters

Field Description
State Specifies a state. Select multiple states by holding down the CTRL key. This field defaults to All States.
City Specifies a city. Select multiple cities by holding down the CTRL key. This field defaults to All Cities.
Terminals Provides a terminal. Select multiple terminals by holding down the CTRL key. This field defaults to All Terminals.
Product Class Indicates a product class. Select a desired class of product. Once selected, the Product field displays only those products within the selected product class. This field defaults to All Product Classes.
Products Contains a product. Select multiple products by holding down the CTRL key. This field defaults to All Products.
Seller Lists all of your active Selling partners. Select multiple sellers by holding down the CTRL key. This field defaults to All Sellers.
Qty Discount Quantity Discounts adjust based on the Seller, and we recommend that you leave it set to the default.
Offer Type Allows you to see active offers or suspended offers. Sellers may suspend offers for a number of reasons, including issues at the terminal, weather related delays, and market volatility.
Lowest Price If you’d like to see only the Lowest Price available, select this option. If this option is not selected, you will see all prices from all sellers.

The filters that you select are automatically saved. The next time that you login to the Exchange, you will see the latest filters.

Prompt Offers interface

Prompt Offers Interface

Field Description
Product Lists the product.
Terminal Indicates the terminal city, name, and state.
Seller (** multiple offers) Identifies the seller offering these prices at the selected terminal. If there’s a **, that indicates there are multiple sellers for that terminal / product combination.
Min. Qty Displays the minimum quantity of product that can be ordered from the seller for this offer.
Bid Inc. Describes the quantity increment that must be used, once the minimum quantity is met, when placing a market order or submitting a bid.
Price Lists the price you pay for Market Orders. Bids must be lower than the price listed in order to be considered a bid.
Volume Specifies the quantity of product for which you are placing a market order. You do not need to fill out this field for a bid.

 

Prompt Offers actions

You can perform the following actions in the Prompt Offers summary pane:

  • Submit Orders: Submits all Market Orders with quantities entered in the Volume column. Once you submit a Market Order, it is matched and considered final.

  • Export: Exports the data from the Prompt Offers summary pane to an Excel worksheet

  • Market Order: Submits an offer on a product from a partner seller at the seller’s offered price. Once the order is placed and other requirements are met, the trade is matched and becomes final.

  • New Bid: Submits a price from a buyer on a product from a partner seller. The seller has the option to accept or deny the bid.

Set your filters

Location:  Buyer  >  Prompt Offers/Orders  >  Prompt Offers

Here’s how to edit a view:

  1. Find the items you want to narrow down in State, City, Terminals, Product Class, Products, Seller, Qty Discount, and Offer Type.

  2. Once all items are selected, click Go.

Prompt Offers tasks

Creating and Submitting a Market Offer

Location:  Buyer  >  Prompt Offers/Orders  >  Prompt Offers

A Market Order is when you are purchasing a product at face value. Whatever price is listed under the Price column is the price you are paying.

Here’s how to create and submit a Market Order:

  1. Find the item you’d like to place a Market Order.

  2. In the Volume text box, enter the desired number of gallons of the product you wish to order at the listed price.

You must enter at least the amount noted in the Min Qty field by the seller’s Terms & Conditions.

  1. Click Market Order. A confirmation window opens. Check the information to make sure it is correct. If so, click Send to submit your order.  If not, click Cancel to cancel the order.

Be sure when you place a Market Order to click Send immediately after reviewing your order to lock in that price. Depending on market volatility, the price can change very quickly. If you are away from the Exchange for longer than a few seconds, click cancel to verify that price hasn’t changed.

  1. Once you click Send, your market order is confirmed at the current market price. An information window displays your Trade Id. Make a note of this Trade Id in case you need to look up your trade later.

  2. To check the status of your order, go to the Manage Bids page and view the Todays Trades pane. If it’s past 24 hours, you can go to the Trade Report to view the status of your Market Order.

Creating and Submitting a Bid

Location:  Buyer  >  Prompt Offers/Orders  >  Prompt Offers

A Bid gives you the opportunity to ask for a different buying price. Place a bid if you want to try to negotiate a different price to see if any sellers are interested.

You can place a bid below the seller’s current offer price to a specified seller or to all sellers simultaneously.

Here’s how to place a bid:

  1. Select the desired location, terminal, and product.

  2. Click New Bid in the row with the desired product. The Prompt Bid window opens.

  3. Verify that the terminal and product listed are the same ones you want to create a bid. If not, click Cancel and start over.

  4. Enter the following:

    Field

    Description
    Bid Price Specifies the price that you want to pay per gallon of product. The price must be in decimal format for dollars and must be a number greater than zero. For example, a price of 2.00 indicates you are willing to pay $2.00 per gallon.
    Bid Volume Provides the number of gallons of product you want to purchase. This must be at least the minimum quantity as set by the seller. In some cases, there may also be a required incremental amount.
    Select a Seller Indicates the desired seller(s) for this bid. To select multiple sellers by holding down the CTRL key while making your selections. If you want the bid to be open to all sellers, select the Open to All Sellers field.
    Bid Expire Contains the time frame when the bid expires or no longer is active. You can use the calendar icon to open a Calendar to select a month/day/year. Hour and Minute are in military hours for the Central Time zone.

  1. Click Save. A confirmation message New Bid Entry Saved appears and indicate that your bid has been submitted.

To edit or cancel your bid, go to the Manage Bids tab.

Once your bid has been confirmed, it becomes active. Sellers can review your bid and choose whether or not to accept it. As long as your bid remains unmatched, it is considered active. An active bid can be edited, suspended, or even cancelled. However, once your bid has been matched it is no longer active and can no longer be edited, suspended or cancelled.

Export your search results

Location:  Buyer  >  Prompt Offers/Orders  >  Prompt Offers

Here’s how to export a report:

  1. Click Export.

  2. Once the file has been downloaded, you can open, save, or cancel your report.

Manage Prompt Bids overview

The Manage Bids page provides a summarized view of all your bid and daily trade activity on prompt offers. You can use it to view and edit bids that you’ve submitted. You can also look at any trades that have resulted from your bids and view any market orders that you’ve submitted.

The Manage Bids tab is divided into two tables:

  • Open Bids: Shows all Prompt Offer Bids that have yet to be accepted by the seller(s). You’re able to edit/cancel bids in this table.

  • Todays Trades: Displays all prompt offer market order and accepted bid activity for the past 24 hours.

You can get to the Manage Bids page through the tab at the top, or Buyer > Prompt Offers > Bid/Trade Summary.

Open Bids

The Open Bids table on the Manage Bids page displays all open bid activity.

 

Open Bids

Field Description
Bid ID Contains the unique identifier for the bid.
Terminal Specifies the terminal where product has been lifted or may be lifted.
Product Provides the product you offered to buy.
Bid Price Lists the price per gallon you offered to pay.
Bid Gallons Indicates the quantity of product you requested.
Seller(s) Identifies the seller(s) involved that can accept the bid.
Active Range Defines the date range for the display. Any bids that were activated or expired within the range are displayed. Any market orders that were matched during the specified period are also displayed.

 

Todays Trades

The Todays Trades table on the Manage Bids page provides a summary of products and amounts purchased for market orders and accepted bids, along with total gallons and the average purchase price within the past 24 hours.

Today’s Trades

Field Description
Trade ID Contains the unique identifier for the trade.
Terminal Specifies the terminal where product has been lifted or may be lifted.
Product Provides the product you purchased.
Price Lists the price per gallon you paid.
Gallons Indicates the quantity of product you purchased.
Seller Identifies the seller involved in the transaction.
Match Date Indicates when the bid was accepted or when the market order was placed.
Status Displays the status of the transaction. Options are:

Matched —A market order or bid that has been submitted and matched.

Cancelled – A market order that has been cancelled by the seller.

Expired —A bid that expired without any takers.

Manage Prompt Bids tasks

Edit an Active Bid

Location:  Buyer  >  Prompt Offers/Orders  >  Manage Bids

You can edit a bid if it is still active through the Prompt Offers/Orders page under the Manage Bids tab.

  1. From the Manage Bids tab, click Edit for a bid.

  2. Change the price, quantity, and other information as needed.

  3. Click Save to submit your changes. A confirmation message appears to indicate that your bid was successfully updated, and your changes display in the Open Bids table.

Cancel an Active Bid

Location:  Buyer  >  Prompt Offers/Orders  >  Manage Bids

You can cancel a bid if it is still active through the Prompt Offers/Orders > Manage Bids tab.

  1. From the Manage Bids tab, select the checkbox next to the bid.

  2. Click Cancel Bids.

  3. A confirmation window appears. Confirm your selection and click Cancel Bids.

  4. A confirmation message appears to indicate that your bid was successfully removed, and your bid disappears from the Open Bids table.

Prompt Trade Report overview

The Trade Report tab displays any trades for the specified terminal, product, and seller, and for the specified date range. You are able to export this table to a .csv file.

 

 

 

 

Prompt Trade Report interface

Field

Description
Seller Filter Displays only those sellers in your Active Sellers List (as defined through the Seller Request page). Select multiple sellers by holding down the CTRL key while making your selections. This field defaults to All Sellers.

This automatically displays information from all sellers for the selected product(s) at the specified location(s).

If you have already selected a state, city, terminal, product class, and/or product, the Seller field displays only those sellers that correspond to your database filter selections.

  Not all active sellers may be listed in this field. In some cases, a seller may be active but may not have any current offers in DTN Exchange system. Active sellers can be viewed through the Seller Request page.
Start Date/ End Date Provides a date/time range for the display. If a trade occurred during the specified date/time range, it is displayed in the Trade Activity for Selected Period pane.
Go Activates the search for trades that match the selected filter criteria for terminal, product, seller, and date/time range.
Export Exports the trade report to an .csv file.
Trade ID Contains the unique identifier for the trade.
Terminal Identifies the terminal to which the trade is attached.
Product Indicates the product to which the trade is attached.
Price Provides the price at which the trade occurred.
Gallons Indicates the total quantity of product (in gallons) attached to the trade.
Seller Provides the seller to which the trade is attached.
Match Date Displays the date and time when the trade occurred.
Status Indicates the trade has a Match status whether by the seller or automatically.

 

Export a Prompt Order/Bid report

Location:  Buyer  >  Prompt Offers/Orders  >  Manage Bids or Trade Report

Here’s how to export a Prompt order/bid report:

  1. In the Manage Bids or Trade Report tabs, select the filter criteria you want.

  2. Click Go. The page displays any bids or trades matching the search criteria.

  3. Click Export to Excel and follow the prompts to export the displayed information.

 

Posted Prices overview

The Posted Prices tab provides a comparison of posted prices on a terminal and city-wide basis against real time prices. You can use that information to determine the best buy on a product.

  Posted prices are only available if you’re currently receiving posted prices through an existing DTN service.

  You cannot make purchases from this page. To place a bid or market order, click Prompt Offers.

In today’s market, it is common for sellers to also post midday or intra-day changes. This page reflects the most recent change, whether it occurred at midnight or intra-day.

  The Posted Prices tab does not update live if you are on the page. If you want to see the most current prices, refresh the page.

You are able to export this table to a .csv file.

Posted Prices interface

Field

Description
Filters Includes State, City, Terminals, Product Class, and Products.
Go Activates the search that matches the selected filter criteria.
Export Exports the trade report to an .csv file.
Product Lists the products according to the applied filters.
Terminal Contains the terminals according to the applied filters.
Posted Terminal
Posted City
Real Time Identifies the lowest real-time price for a specific product at a specific terminal resulting from actual seller activity.

 

Posted Prices tasks

Determine your best offer

Location:  Buyer  >  Offers/Orders  >  Posted Prices

Here’s how to determine the best buy:

  1. Select a saved view or enter the desired filter selections.

  2. Compare the Low Posted Term, Low Posted City, and Low Real Time columns.

  If the price is listed in the Low Posted Term column or Low Posted City column, pace the cursor over the price to display details about the posted price above the Posted Prices table.

Terms overview

The Terms tab displays the details needed to purchase product from any of your active sellers, including lifting terms. You can filter through Prompt, Forward, and Flex terms for each active seller.

  If you and a seller have any existing contracts with each other, the terms and conditions of those contracts apply.

 

View Terms

Location:  Buyer  >  Offers/Orders  >  Terms

Here’s how to view the seller’s terms:

  1. From the Terms tab, select the Seller.

  Only active sellers appear in the drop-down menu.

  1. Select the Offer Type. Options include Prompt, Forward, or Flex.

  2. Click Go. The terms and conditions display below.

  If you and a seller have any existing contracts with each other, the terms and conditions of those contracts apply, as opposed to the more generalized information presented through the Terms tab.

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