User Journey: Give a report its cut

1. Open Reports. The reports list is See the reports a party runs's, with one addition: a Cut column carrying the selection's badge.

   Column	What it holds
   Report	The definition's name, and its type under it
   Cut	The selection's kind as a badge, and under it the fact that qualifies it: no cut selected, pinned for a specific cut, indicative for a kind whose values are
   Cycle	eod or intraday, as the report's page states
   Latest run	The health word the list already draws
   Last run	The instant, relative

2. Read the badge. A person who reads thirty-one reports sees which of them price from the close, which from the open and which from the run itself, without opening one. The badge is a classification of the report and not a status, so it borrows no green, amber or red; the health of the last run stands where it already stands.
3. Open the report and read the selection beside the runs. The report's record carries the Definition tab with its selection, and the Market tab with the selection beside the cut the last run resolved. The two are different facts and the tab says so: the selection is what the report will resolve next time, and the resolved cut is what the last run used.

1. Set the selection on create. The create flow's step that names the report gains one field: the cut selection, with the kinds the party may select and the cuts already taken. The default is the end of day kind, because most reports cover a day, and a report created without a choice says no cut selected on its badge and is refused at its first run with the sentence that names what it lacks.
2. Set the selection on update. The Definition tab's Edit opens the record dialog with the selection among the definition's own fields. It is written with the rest of the definition, in one version, with a change reason and a commentary; a change to the selection is a material change, because it moves what the report prices from.
3. Read what each kind resolves to. The field offers the kinds the party's cut type list holds, each with the sentence that says what it resolves against: End of day — the close of the date this report covers, Month end — the close of the date's month's last business day, Year end — the close of the year's last business day, Start of day — the open of that date, Independent verification — the signed verification cut of that date, Live — the instant you press Run, and the body it fixes is indicative. The kinds are read from the type list rather than named here, so a firm that adds a kind adds it once. A kind the party has taken no cut for is still offered, because the party may take one; the preview says what it would need.

6a. Read the family's fallback. A report that selects the ordinary close prices from the body fixed on the date, whether that body was taken as an ordinary close, a month end or a year end, because the family fixes the same four inputs at the same centre's close. A report that selects the month end is stricter: it needs the month end cut, because the longer retention is the reason the occasion exists and a plain close of that day was not kept as one.

1. Read the preview. Beside the field, the dialog draws what the current choice would resolve to now, computed by the run's own operation: the cut's label, its kind, its timepoint, its state, its authoriser and the counts of its body, or the sentence that would refuse the run. EOD would resolve to EOD.ACME-LONDON.2026-10-06, authorised by a.reyes, 1,284 deals and 3,912 values is the common reading; EOD would resolve to nothing: no end of day cut of 06 October exists for these books is the other.

2. Read the preview's refusals. The preview refuses what the run would refuse, in the run's words, and each names what would make the selection usable.

   What the preview finds	What it says
   No cut of the kind and date exists	That no cut of that kind covers the date, for these books and this centre, and that somebody must take one. For a month end or year end selection it names the last business day it looked at
   A cut that is taken and unsigned	That the cut is waiting on its kind's authorisation, and the request and account it waits on
   A cut whose body is incomplete	That its body has gaps, and where they are read
   A cut that was refused	That its authorisation was refused, and that the remedy is a new take
   A pinned cut that has been superseded	That a later cut replaced it, and that a rerun may still name it on purpose
   A scope spanning two centres	That no one cut values books that read two centres, and that the report's scope must be narrowed or split

3. Select a specific cut where the kind is not enough. A person who means one body — to reproduce an earlier result, or to pin a report to the body a client was shown — selects the cut itself from the list of the party's cuts, filtered by kind and date. The badge then reads the kind with pinned under it, and the selection resolves to that cut whatever the date, which is the one way a report can price from a body that is not of its own date.

1. Run the report. Run now is Run a report and watch it finish's press. The dialog names the cut the selection resolves to before the press, in the same words the preview used, so the person is not asked to trust a tab they read an hour ago.
2. Let the run resolve and gather. The run resolves the selection first, records the cut and its timepoint, and then gathers: the deals from the cut's population and the market data from the cut's fixed snapshot, in one body and not two halves at two instants. A resolution that yields nothing refuses the run before the engine is reached, and the run's output message carries the same sentence.
3. Read the run's record. The run's page carries the card that names the body: the cut's label, kind, timepoint and scope, the counts of its parts, its basis — the authoriser where the kind requires one, and that the kind requires none where it does not — and the selection it resolved from, which may have moved since. The run's `priced_at` is the cut's timepoint, so the date the report states and the body it used are one fact.

1. Select Live and read what it promises. The preview cannot name a cut, and says so instead: LIVE will fix a body at the instant you press Run, and every result it prices is marked indicative. The badge reads LIVE with no body until a run under it.
2. Run it. The run resolves the selection to a cut it mints at its own instant: the four inputs at that instant, the taking identity being the run acting for the account that pressed it, and no authorisation, because the run mints and consumes the body in one act. The cut appears in the cuts list with its instant in its label, in the In use state, marked indicative.
3. Read why it is different. The run's card states that the cut was minted by this run, that its values are indicative, and that the result is reproducible only by naming that cut. A rerun of the same LIVE report tomorrow is a new body: the comparison verdict says cannot be compared for the retake reason, which is the same verdict a retaken daily cut draws.

1. Read the definition's history. The selection is a field of the definition, so its changes merge into the report's History tab: the selection before and after, the account, the instant and the reason. A run already produced keeps the cut it recorded, so the history explains the difference between two runs rather than relabelling them.
2. Read the cut's consumers. The cut's Runs tab lists the runs that priced from it, and the Market tab of each report names the selection that resolved to it. That is the question a person asks before a cut is superseded — what still rests on this body? — and it is the same fact read from each side.