ASC 845 Swap Repricing Skill

Purpose

Implements equal-value exchange under ASC 845 (Nonmonetary Transactions) for swap transactions in TRES Finance. In a simultaneous swap, the fair value of the asset surrendered (outflow) is the best evidence of the fair value of the asset received (inflow). This skill reprices inflow legs to match outflow legs so that clearing accounts net to zero.

When to Use

• A swaps/trade clearing account has a non-zero residual after month-end
• User wants to apply ASC 845 to a population of swap transactions
• User says "setBatchUseCounterpartyFiatValue" or similar

MCP Server

All GraphQL calls use the user-tres-finance MCP server (execute tool).

Variable keys and nested input fields MUST use camelCase (e.g. timestamp_Gte, not timestamp_gte).

Prerequisites

• TRES Finance MCP connection (user-tres-finance)
• The user must specify:
  1. Target ERP account — the clearing account to zero out (e.g. "Swaps Clearing Account", NS #818)
  2. Transaction scope — either a date range (timestamp_Gte / timestamp_Lte) or specific tx hashes
  3. Confirmation — user must approve before mutations are executed

Workflow

Step 1: Gather Parameters

Ask the user for:

• Target ERP account name or ID (the clearing account)
• Date range OR list of transaction hashes
• Activity tags (optional) — filter to only transactions with specific classification activities (e.g. "STAKING LOCKUP", "SWAP"). None, one, or many may be selected. If omitted, all activities are included. Use tx_Classification_Activity_In on the TRES query.
• Currency (default: USD)
• Whether to run in dry-run (preview only) or execute mode

Step 2: Query Subtransactions

Use the TRES subTransaction query to fetch all subtransactions in scope. Include these fields:

{
  id
  amount
  balanceFactor
  timestamp
  fiatValue
  isManualFiatValue
  belongsTo { id name }
  asset { assetClass { symbol } }
  tx { id identifier classification { activity } }
  flowRule {
    ruleName
    integrationAccount { name value }
  }
}

If activity tags were specified, pass them as tx_Classification_Activity_In: ["STAKING LOCKUP", "SWAP"] on the query. Note: transactions with classification: null will be excluded when this filter is used, so only apply it when the user explicitly requests it.

Paginate in batches of 50 (to avoid timeouts). Save the combined results to a JSON file for the orchestrator script.

Step 3: Run the Orchestrator Script

From the skill scripts/ directory, run orchestrate_reprice.py (handles MCP response shapes, account filter, preview, and mutation JSON):

cd "${CLAUDE_PLUGIN_ROOT}/skills/tres-asc845-swap-reprice-skill/scripts" && \
python3 orchestrate_reprice.py \
  --input /path/to/swap_reprice_input.json \
  --account-name "Swaps Clearing Account" \
  --output /path/to/reprice_plan.json \
  --mutations-output /path/to/reprice_mutations.json

Use --account-value instead of --account-name when filtering by ERP account number. Pass --activity-tags SWAP "STAKING LOCKUP" when the user requested activity filters.

The script prints a preview to stdout and writes:

• reprice_plan.json — full plan with per-transaction adjustments
• reprice_mutations.json — ready-to-execute setManualFiatValue variables

For lower-level repricing only (no orchestration), use reprice_swaps.py directly — see scripts/reprice_swaps.py for flags.

Step 4: Repricing Logic (ASC 845)

The orchestrator implements the logic below. Read scripts/reprice_swaps.py for the canonical implementation.

The core principle: calculate the difference between total outflow fiat and total inflow fiat, then distribute that difference across inflows in proportion to their token amounts. This preserves the original pricing as a base and makes the minimum adjustment needed.

For each parent transaction:

Case 1: One outflow, one inflow

inflow.newFiatValue = outflow.fiatValue

Case 2: One outflow, many inflows

difference = outflow.fiatValue - sum(inflow.fiatValue for each inflow)
totalInflowTokens = sum(inflow.amount for each inflow)
for each inflow:
    tokenProportion = inflow.amount / totalInflowTokens
    inflow.newFiatValue = inflow.fiatValue + (difference * tokenProportion)

Case 3: Many outflows, one inflow

inflow.newFiatValue = sum(outflow.fiatValue for each outflow)

Case 4: Many outflows, many inflows

totalOutflowFiat = sum(outflow.fiatValue for each outflow)
totalInflowFiat = sum(inflow.fiatValue for each inflow)
difference = totalOutflowFiat - totalInflowFiat
totalInflowTokens = sum(inflow.amount for each inflow)
for each inflow:
    tokenProportion = inflow.amount / totalInflowTokens
    inflow.newFiatValue = inflow.fiatValue + (difference * tokenProportion)

Worked example (Case 2):

Before:  Outflow = 100 tokens @ $100 | Inflows = 25 tokens @ $25, 25 @ $25, 35 @ $35 (total $85)
         Difference = $100 - $85 = $15 | Total inflow tokens = 85

After:   Inflow 1: $25 + ($15 × 25/85) = $25 + $4.41 = $29.41
         Inflow 2: $25 + ($15 × 25/85) = $25 + $4.41 = $29.41
         Inflow 3: $35 + ($15 × 35/85) = $35 + $6.18 = $41.18
         Total inflows after = $100.00 ✓  (clearing account nets to zero)

Edge cases:

• If totalInflowTokens == 0, distribute the difference equally across inflows
• If a subtransaction already has isManualFiatValue == true, flag it for user review (it was already manually repriced)
• Skip transactions with only outflows or only inflows (not a complete swap)
• Last inflow in the group receives the remainder to absorb rounding (ensures exact match)

Step 5: Preview the Reprice Plan

Present the orchestrator stdout summary and/or the plan JSON to the user:

TX Identifier | Outflow Total | Inflow Before | Inflow After | Adjustment
------------- | ------------- | ------------- | ------------ | ----------
0xabc...      | $1,234.56     | $1,230.00     | $1,234.56    | +$4.56
0xdef...      | $5,678.90     | $5,670.00     | $5,678.90    | +$8.90

Also show aggregate stats:

• Total transactions affected
• Total outflow fiat
• Total inflow fiat (before)
• Total inflow fiat (after)
• Net clearing account residual (before → after, should go to $0)
• Count of already-manually-priced subtxs being overwritten

Step 6: Execute (with user confirmation)

Never run mutations without explicit user confirmation.

Only after the user confirms, execute setManualFiatValue for each inflow subtransaction (use variables from reprice_mutations.json):

mutation SetManualFiatValue($id: ID!, $newFiatValue: String!, $currency: String) {
  setManualFiatValue(id: $id, newFiatValue: $newFiatValue, currency: $currency) {
    subTransaction {
      id
      fiatValue
      isManualFiatValue
    }
  }
}

Execute one at a time (not batch) to handle locked-period errors gracefully. If setBatchManualFiatValue is preferred for speed, group inflows by asset where a uniform per-unit price applies.

Important: setManualFiatValue takes newFiatValue as a string. setBatchManualFiatValue takes ids (list) and newUnitValue (Float) and computes newUnitValue * amount — only use this if all subtxs in the batch should have the same unit price.

Step 7: Verify

Re-query the subtransactions and re-aggregate to confirm the clearing account now nets to zero.

Error Handling

• Locked period: If a subtransaction is in a locked period, warn the user. They must unlock via deleteLockedPeriod, apply changes, then re-lock via createLockedPeriod.
• Missing fiat values: If outflow fiatValue is null, skip the transaction and flag it.
• Zero-value legs: If outflow total is $0, skip (nothing to propagate).
• Already manual: Flag but still overwrite — only after the user confirmed the batch.

Script Reference