1. Pre-trade Bilateral documentation and Proper documentation and Credit internal approvals & agreed line checks on the basis of which terms. Trading limits are decided 2. Trade Execution of Trade Parties agree on terms via phone, fax, and/or electronic means for Price and Quantity for a particular month contract of Mondo Crude. Post that it is routed to Risk Management team for the approval of Exposure taken. 3. Post-trade Trade capture Once we get the approval from Risk ETRM systems handle Management team the Trade details this part are captured. Trade affirmation or matching Trade Matching is done by the clearing house/Financial Intermediary/Dealer and the confirmation of the same given to both the counter parties. Confirmation Final confirmation of the trade details are secured and exchanged. Confirmations may be paper- or electronic-based. Or via email on ISDA format. Scheduling Physical deals will be sent for delivery via ships, pipelines,etc Settlement As per the settlement procedure mentioned in the contract that will be done Example – Cash Settlement ,EFP (Exchange for Physical) etc..