When a trade is booked, GiltIQ records the yield at the moment of the trade for that lot, so each purchase carries the yield it was actually struck at rather than a blended figure across a holding.
Every trade in GiltIQ is stored as its own lot, and each lot keeps the yield it was booked at. That is a deliberate choice: the yield on a gilt depends on the price paid on the day, and two purchases of the same gilt months apart can carry quite different yields. Recording the yield per lot keeps the history honest, so a report can show what each purchase was actually struck at rather than an average that hides the timing.
What the recorded yield is
The figure stored with a lot is the gross yield at the trade: the annualised return to maturity on the price you paid, on the convention the site uses across the gilt list. It is the same figure the row showed at the moment of booking, kept with the trade rather than recomputed later. Because it is fixed at the trade, it does not move when the market does — it is a record of what you got, not a running valuation.
The change column is a different figure: how far the gilt's yield has moved since the previous close. It describes the market's last session, not the yield on any one lot, so the two should not be read as the same number.
The recorded yield is a gross figure: it does not net off income tax and it does not include any dealing cost. That is deliberate, because the tax band and the fee are things a report can add later, while the yield at the trade is a fact of that moment. Keeping it gross keeps it comparable across lots whatever a reader's tax position.
Why timing changes the yield
A gilt's yield moves with its price. If the market reprices between two purchases, the same gilt can be booked at two different yields on two different days — even at the same clean price, because the accrued interest and the settlement date also differ. A holding built up in several lots will therefore show several yields, one per purchase.
This is not an error to be tidied away. A single blended yield would hide the fact that part of the holding was bought when the gilt was cheaper or dearer, and the per-lot record keeps that visible.
The practical point is arithmetic, not a rule: two lots bought at different prices are two different returns, and the ledger keeps them separate so each can be read. A single blended yield for the holding would hide the timing that produced it, which is exactly what the per-lot record is there to preserve.
The fields on a lot
A booked lot carries a small set of figures. The table names what each one means and where it comes from.
| Field | What it means |
| Yield on the lot | The gross yield at the price paid on the trade date |
| Change | How far the gilt's yield moved in the last session |
| Settlement date | The day cash and gilt change hands, from the trade date plus the delay |
Together the three fields say what the lot was, what the market was doing and when it settled. None of them is a valuation; they are the facts of the trade, fixed at booking.
Where to see it
The trades ledger lists each booking with the gilt, the side, the nominal and its own figures, so lots can be read one at a time. The gilt's own page, opened from the conventional gilts list, carries a price history that shows how its yield has moved over time, which is the context for why two lots of the same gilt can differ.
Each lot is a row, and the ledger's columns carry the same figures the trade was booked with. Reading a holding lot by lot is the way to see the timing; reading it as a single line hides the very differences the per-lot record exists to keep.
Booking a lot when the market has moved
If you book a trade days after it was agreed, enter the price and the trade date from the contract, not a price you remember. The yield is recorded at the trade date and price you enter, so a price taken from a later report would record a yield the lot was not struck at. The lot should reflect the deal, not the day it was typed in.
For the same reason, a contract that gives only the total cash can be booked at the dirty price directly, and the site stores the trade at that figure. What it needs to keep the yield honest is the trade date and a price consistent with it; entering the two together from the same document is what keeps the recorded yield true to the deal.
A single gilt bought in three lots over a year will show three recorded yields, and that is the expected result rather than a fault. Each lot was struck at its own price on its own date, and the per-lot record keeps them apart so nothing averages the timing away. A reader looking at the holding sees the history of what was actually paid.
Where a reader wants a single figure, it is built from the lots rather than invented. The site's part here is to keep each lot's own yield, because that is the fact; combining lots is a separate question the reports answer from the underlying trades.
Accurate about the data
This page describes what the site records: a yield stored with each lot at the time of booking, a settlement date derived from your profile's delay, and a change figure taken from the report. It is general information about how the figures are kept, not investment or tax advice, and the gilt's own record and the day's market data remain the primary sources for any price or yield.