> ## Documentation Index
> Fetch the complete documentation index at: https://docs.activeviam.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Trade Novation

​The **Trade Novation** widget allows you to move trades across portfolios and compare the risk.

## Using the widget

1. In the top left menu, click **Insert** > **Widgets**, then drag and drop the **Trade Novation** widget to your dashboard.
2. On initial display, you're prompted to enter or select the following:

​<img src="https://mintcdn.com/activeviam/9HwjpAnCRKd_31pF/solutions/simm/3.0/images/trade-novation-widget.png?fit=max&auto=format&n=9HwjpAnCRKd_31pF&q=85&s=1bbf4da2d3c19cd0ca2e1f9c761f693a" alt="Trade Novation Widget" width="758" height="381" data-path="solutions/simm/3.0/images/trade-novation-widget.png" />

| Field                    | Description                                                         |
| ------------------------ | ------------------------------------------------------------------- |
| **Original Netting Set** | The portfolio from which a trade or set of trades will be selected. |
| **Novated Trades**       | The list of trades from the Original Netting Set.                   |
| **Target Netting Set**   | The portfolio receiving the selected trades.                        |
| **What-If Branch Name**  | The name of the What-If branch to be created.                       |

<br />

3. After entering the necessary data, click **View Summary** to see a summary of your What-If.

<img src="https://mintcdn.com/activeviam/9HwjpAnCRKd_31pF/solutions/simm/3.0/images/trade-novation-summary.png?fit=max&auto=format&n=9HwjpAnCRKd_31pF&q=85&s=6d7c928bec4d76937ed4db0cdaca6d45" alt="Trade Novation Summary" width="400px" data-path="solutions/simm/3.0/images/trade-novation-summary.png" />

Two copies of the Novated Trades are created: an “offset” and a “novated”. The “offset” trades cancel out your risk from the Original Netting Set. The “novated” copy applies the trade’s risk value to the Transferee Netting Set.

4. Click **Create What-If** to finalize your changes.

<Tip>To view the experimental calculations, add the [Epoch](../cube/dimensions/epoch) hierarchy into the view, for example, on columns of your Pivot Table. You may also want to set a filter on this hierarchy and select: “master” and your branch.</Tip>
