The final 2025 release introduces a number of impactful enhancements:
Automated product-to-asset mapping across all trade entry methods, streamlining trade setup and reducing errors.
Upgraded physical trading features, including automated delivery date calculations for exchange products and new payment rules to support flexible commercial agreements.
Additional refinements such as improved trade grid usability, flexible inventory aggregation by Book and Origin, and enhanced capabilities for custom curves and FX valuations.
Mirage
Trades Grid – Better Uploads, Messaging, and Defaults
We’ve made several usability improvements to the Mirage Trades grid: Uploads can now create new trades when the file is valid. Success and error messages have been polished—for example, confirming 3 trades now returns “3 trades confirmed successfully.” Custom fields are no longer shown by default in the grid, and the Tags column is now included by default.
These changes improve clarity and workflow consistency across trade management tasks. [ALP-220]
Assets Assignment & Automation
We've improved how assets are assigned to trades with some automation. Molecule now automatically assigns the correct asset to trades based on product-level recommendations, whether trades are created through the UI, v1/v2 APIs, or ICE messaging. This intelligent assignment reduces manual work and ensures consistency across all trade entry methods. [OME-275] [OME-278]
Supporting this automation is a new Asset Recommendations model that maps products to assets at the account level. You can manage these mappings securely through a dedicated API in Mirage using the maintain_inventory permission, giving you full control over your asset assignment rules while benefiting from smart defaults during trade creation. [OME-277] Additionally, we've extended asset support to the Marks API—you can now read and write both asset and asset product fields directly through the /api/v2/marks endpoint, enabling better tagging, categorization, and downstream reporting of marks, particularly for power and renewables use cases. [OME-256]
New Asset Recommendations Screen
A new Asset Recommendations table has been added to the Mirage Inventory Settings screen. This screen makes it easier for users to manage mappings between trade products and recommended assets, laying the groundwork for smarter automation in trade entry and valuation. [OME-279]
This unified approach ensures more accurate trade setup, reduces manual entry errors, and improves consistency in downstream processes—particularly valuable for high-volume API trading and ICE messaging workflows.
Physical Delivery & Settlement
Enhanced Delivery Date Automation
We've significantly improved how Molecule handles delivery dates for physical trades. A new first_delivery_date field has been added alongside the standard delivery date, with products now supporting auto-calculation rules for both dates similar to settlement date derivation [OME-276]. For exchange-traded products, we've implemented real-time logic that automatically assigns the correct asset_id and delivery_date to sublegs based on exchange rules (such as "1 business day after the last trading day"). This ensures inventory reflects accurate delivery information instantly—no batch processes or manual intervention required—which is especially valuable for emissions and power futures like EUA, UKA, and TTF [OME-250].
New Payment Rules: Business Day Before
To support more flexible commercial agreements, we've added two new payment rules that round down to the previous business day if the scheduled date falls on a weekend or holiday. These rules are now available throughout the app, including agreement and trade screens, as well as in API and spreadsheet uploads. This addition improves support for structured physical deals and aligns Molecule with more nuanced contract language. [OME-284]
Aggregate Inventory by Book and Origin
We've added two new configuration flags—"Aggregate Inventory by Book" and "Aggregate Inventory by Origin"—to give customers greater flexibility in how inventory is rolled up. These are now available on the account settings screen just below the "Aggregate Inventory by Currency" option and are off by default. The new fields enable deeper reporting on inventory segmentation by organizational structures. [OME-307]
Data Quality & Bug Fixes
Quarterly and Half-Yearly Custom Curves Now Show Correct Contract Dates
We fixed an issue where quarterly and half-yearly custom curves incorrectly generated contracts starting in the wrong months (e.g., May instead of April). Curves for quarterly products now only show January, April, July, and October start dates; half-yearly curves show only January and July. This correction ensures alignment with standard financial contract conventions. [OME-283]
Improved Explanation Logic for Stepwise Child Trades
We’ve updated how Molecule assigns the explanation field in settlement entries for stepwise child trades. Previously, these entries were marked as new_position on the trade date, which caused confusion—particularly for FTRs that are awarded infrequently. Moving forward, trades with stepwise parents will now show mtm_change as their explanation when as_of equals the trade date, improving transparency and aligning better with actual position behavior. This change applies both prospectively and retroactively for trades dated January 1, 2026 or later. [OME-289]
New FX Field: base_currency_realized Now Available in Valuations
We’ve added a new field, base_currency_realized, to valuation exports to support FX-settled trades. This output helps verify that realized trade values remain fixed at the appropriate FX rate after settlement—eliminating the need for external reconciliation or manual calculations. The value is automatically calculated as current_realized_pnl * fx_rate_used during valuation. It is available via the valuation API (including fx_ir and extended options), on the valuations screen, in valuation archives, and is supported in Bigbang exports. [OME-298]
