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In order to use same lot selection, you identify the controlling basis and the non-controlling bases for each entity that uses same lot selection. The Controlling Basis field (tag 4949) defined at the accounting basis level identifies the accounting basis that controls lot selection for closing transactions. Non controlling bases attempt to close the same lots that the controlling basis did. 

For example, entity A is comprised of primary basis A, secondary basis B , and secondary basis C. You assign secondary basis B as the controlling basis and assign primary basis A as a non-controlling basis. During close transactions for primary basis A and secondary basis B, the system uses the lot selection method specified by the controlling basis, secondary basis B. If you do not want secondary basis C to use same lot selection to keep it in sync with the other bases, you can indicate that it is neither a controlling or non-controlling basis, In that event when the system closes transactions for secondary basis C, it uses the lot selection method specified for secondary basis C. 

To assign a controlling basis to an entity:

  1. From any Eagle window, click the Eagle Navigator button to access the Eagle Navigator.
  2. Enter the panel name to create or edit a basic accounting entity, master fund, or accounting basis in the Start Search text box.
    You can use the Create/Edit Entity panel, Create Master Fund panel, Edit Master Fund/Sector panel, Add Basis to a Portfolio panel, and Edit a Basis on a Portfolio panel. You can select the entity or master fund panel to identify a primary basis as controlling, or can select an accounting basis panel to identify a secondary basis as controlling. 
  3. Click the link to access the panel.
  4. If you selected the panel for the primary or second basis that controls same lot selection, set the Controlling Basis field to Yes. 
    Options for the field include Yes, No, and Empty. Same lot processing is not available for an entity/basis that uses a cost method of average cost.
  5. Complete the remaining fields on the panel.
  6. Save your changes.



WRITERS NOTE: in conjunction with this topic, we should update the existing Controlling Basis field description in basis-related panels. The original definition was written when we added Manual Same Lot Selection and applies only to trades.

Update to Create/Edit Entity Panel

Controlling Basis4949

Indicates whether the selected accounting basis is the entity's controlling or non-controlling basis for use with for same lot selection. Same lot selection allows the system to relieve the same lots across multiple bases in order to keep lots in sync across bases. Options include:

  • Yes. Indicates that the accounting basis identified in the Accounting Basis field (tag 21) is the entity's controlling basis during same lot selection. The controlling basis is the accounting basis that controls lot selection for closing transactions. An entity can have a single controlling basis. You can designate a primary or a non primary basis as the controlling basis. 
  • No.  Indicates that the accounting basis identified in the Accounting Basis field (tag 21) is a non-controlling basis for the entity during same lot selection. A non-controlling basis attempts to close the same lots that the controlling basis closed. 
  • Empty. Indicates that the accounting basis identified in the Accounting Basis field (tag 21) does not participate in same lot selection. 

Update to Create Master Fund Panel

Controlling Basis4949

Indicates whether the selected accounting basis is the entity's controlling basis for use with for same lot selection. Same lot selection allows the system to relieve the same lots across multiple bases in order to keep lots in sync across bases. Non controlling bases attempt to close the same lots that the controlling basis did. An entity can have a single controlling basis. You can designate a primary or a non primary basis as the controlling basis. Options include:

  • Yes.  Indicates that the accounting basis identified in the Primary Accounting Basis field (tag 21) is the entity's controlling basis.
  • No. Indicates that the accounting basis identified in the Primary Accounting Basis field (tag 21) is not the entity's controlling basis.
  • Empty. Identifies a null value for this option. The accounting basis identified in the Primary Accounting Basis field (tag 21) is not the entity's controlling basis.

Update to Add a Basis to a Portfolio Panel

Controlling Basis4949

Indicates whether the selected accounting basis is the entity's controlling basis for use with for same lot selection. Same lot selection allows the system to relieve the same lots across multiple bases in order to keep lots in sync across bases. Non controlling bases attempt to close the same lots that the controlling basis did. An entity can have a single controlling basis. You can designate a primary or a non primary basis as the controlling basis. Options include:

  • Yes.  Indicates that the accounting basis identified in the Accounting Basis field (tag 21) is the entity's controlling basis.
  • No. Indicates that the accounting basis identified in the Accounting Basis field (tag 21) is not the entity's controlling basis.
  • Empty. Identifies a null value for this option. The accounting basis identified in the Accounting Basis field (tag 21) is not the entity's controlling basis.




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