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Fintech Engineering Handbook
231–234 of 234 posts
Re: Fintech Engineering Handbook
#232Earlier quoted context omitted.
Exactly, model is in integers and representation can be 1⃣3⃣ or whatever, that's why model-view separation exist.
Sure, you can do that if you can absolutely guarantee that everyone will always respect that separation and there will never be ambiguity between your internal and some partner's representation – even during incidents, even during low-level CSV-to-DB ETLs during incidents ("just one time, I promise, we don't have time to build the proper adapter, but look how similar their and our formats are").
In places where it matters the fines are so high, that everyone are stickler to the rules. It's like a hot oven - not merely a warning of risk. It's actual risk which was touched and which burned.
If an adapter would put your yearly salary at risk (not an exaggeration) would you quicken it?
Re: Fintech Engineering Handbook
#233Earlier quoted context omitted.
Equities and (listed) commodities are relatively easy to get a handle on but it genuinely takes months / years even at the frontline to understand how fixed income and FX works because its still almost entirely an OTC market. There is more central clearing than ever before but e.g. if I (say) buy a bond, fund it using a repo, swap my loot back some other currency, quite a lot of this could easily still be relying on…
Even with equities, things are not entirely trivial. A few examples: Some stocks trade in one currency, but pay dividends in a different currency. Some stocks go ex-div before the dividend amount has been determined (e.g. in Japan). Stocks trade on certain days, and trades settle on certain days, and they might be subject to different holiday calendars. Corporate actions are not entirely trivial, either (with rights…
absolutely - and there's more too, at least when it comes to historical & live data for stocks.
for example: stocks have multiple 'prices' - a bid, ask, last, mid, vwap, twap, etc. a stock's historical 'close' price can be split-adjusted, dividend-adjusted, unadjusted, split and dividend adjusted.. and more. a stock's ticker can change to a ticker used before. a stock can change ticker, but maintain a CIK identifier; a stock can change a CIK identifier, but keep the same ticker.
Re: Fintech Engineering Handbook
#234Earlier quoted context omitted.
Even with equities, things are not entirely trivial. A few examples: Some stocks trade in one currency, but pay dividends in a different currency. Some stocks go ex-div before the dividend amount has been determined (e.g. in Japan). Stocks trade on certain days, and trades settle on certain days, and they might be subject to different holiday calendars. Corporate actions are not entirely trivial, either (with rights…
absolutely - and there's more too, at least when it comes to historical & live data for stocks. for example: stocks have multiple 'prices' - a bid, ask, last, mid, vwap, twap, etc. a stock's historical 'close' price can be split-adjusted, dividend-adjusted, unadjusted, split and dividend adjusted.. and more. a stock's ticker can change to a ticker used before. a stock can change ticker, but maintain a CIK identifier;…
Honestly I don't find most adjustments that complicated as long as you think about it economically rather than pulling a formula out thin air e.g. think about how you arbitrage it if it wasn't adjusted.