# Valuation, backing, price and liquidity

Read what each amount establishes before using a chart, quote or sale result to make a decision.

Canonical: https://docs.bankeiz.com/market-value/
Reviewed: 2026-10-25; coordinated packages 129.0.0; ruleset 127.0.0.

## Six different financial questions

**An amount is meaningful only with its role**

| Term | What it answers |
| --- | --- |
| Whole-object Market Value | What supported valuation is presented for the whole object? |
| Per-share price | What price basis is used for one share unit? |
| Backing | What admitted funding/source is actually committed? |
| Supply/owned quantity | How many exact units exist or are held under the relevant contract? |
| Executable terms | What operation can the current route actually prepare and accept? |
| Liquidity/proceeds | What available exchange can execute, and what did the actual sale return? |

## Valuation is not a buyer

A supported deterministic valuation can be useful and inspectable without creating an available counterparty, funded offer or guaranteed exit. Backing and available liquidity have their own source and execution requirements. A chart, title or multiplication of supply by price cannot create Reserve, purchase capacity or a bank buyback obligation. Read actual supported routes and current terms before approving a transaction.

## Quotes and execution

The generic Market quote is advisory. A dollar-budget purchase holds the budget while actual units can change. A unit sale holds the exact quantity while proceeds can change. A dollar-target sale remains capped by the owned position. The actual execution establishes price, spread, funding split and financial result. Native-backed ownership instead uses its exact native source/offer review. The two families retain their own contracts.

## Historical calculations

Supported asset curves derive from admitted origins, movements and pinned pricing operands. Calculated samples are not claims that every intermediate price was recorded as a transaction. Aggregate group observations cannot be divided into invented per-copy prices. Portfolio historical value can change through purchases and sales; it is distinct from performance or realized return. Missing quotes, basis or history remain unavailable rather than fabricated.

**Read a chart with its evidence**

1. Source: Admitted origins and operands.
2. Method: The supported deterministic projection.
3. Display: Valuation or historical value.
4. Execution: Separate actual trade and proceeds.

## Respond to capacity limits

The actual route can refuse purchases paused, purchase capacity reached, amount above trade limit, unavailable balance, insufficient shares or amount below minimum. Those states identify an execution boundary. The interface preserves the request for a deliberate new review; it does not manufacture liquidity or interpret a refusal as proof an asset has no admitted value. An unknown submitted trade must resolve before changing the request.

- [Trade instructions](https://docs.bankeiz.com/market-trading/)
- [Fees and limits](https://docs.bankeiz.com/fees/)

## Implementation sources

- [Supported valuation history and source operands](https://github.com/kojibai/reality-grade-banking/blob/6c5d582/docs/market-source-value-history.md)
- [Position value and basis](https://github.com/kojibai/reality-grade-banking/blob/6c5d582/src/receiz/market-portfolio-value.ts)
- [Capacity and liquidity refusals](https://github.com/kojibai/reality-grade-banking/blob/6c5d582/src/receiz/market-failure.ts)
- [Backing, supply and ownership contracts](https://github.com/kojibai/reality-grade-banking/blob/6c5d582/docs/native-assets-and-account-proofs-v129.md)

## Related documentation

- [Reserve, Settlement and funding composition](https://docs.bankeiz.com/reserve-settlement/)
- [Create an asset with actual backing](https://docs.bankeiz.com/backing/)
- [Buy ownership or take cash](https://docs.bankeiz.com/market-trading/)
- [Read positions, trades and historical value](https://docs.bankeiz.com/market-records/)