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Global Mode: If this mode is set and the POV is changed in FDM, it will change the POV for all users
Local Mode: if this mode is set and the POV is changed in FDM, it will only change for the current user making the POV change.
The Mode will change accordingly when using a mulitload file.
And here is an entry from the admin guide: http://docs.oracle.com/cd/E17236_01/epm.1112/fdm_admin/ch03s03s01.html