How do I create or generate a recipe?

  • Updated on Jan 16, 2025
  • Published on Aug 20, 2024

Required reading: What is a recipe?

  1. Obtain an API access token.

  2. Call the UpsertConfigurationRecipe API, specifying at a minimum:

    • A scope and code that together uniquely identify the recipe.

    • At least one market data rule in the marketRules array of the market section that enables LUSID to retrieve market data suitable to value the instruments held.

By default, a recipe uses a built-in pricing model for each type of instrument (such as SimpleStatic for instruments of type Equity); you can specify vendor model rules to choose more sophisticated pricing models if you wish. A recipe also has many options that default to sensible values; you can choose to override these.

For example, to create a simple recipe that might be suitable to value a portfolio of equities using market prices that are:

  • Supplied by EDI

  • Loaded into the LUSID Quote Store using FIGI identifiers

  • Encapsulated in a MyQuoteScope:

curl -X POST "https://<your-domain>.lusid.com/api/api/recipes" 
  -H "Content-Type: application/json-patch+json" 
  -H "Authorization: Bearer <your-API-access-token>" 
  -d '{
 "configurationRecipe": {
   "scope": "Recipes",
   "code": "SimpleEquityPricer",
   "market": {
     "marketRules": [
       {
         "key": "Quote.Figi.*",
         "supplier": "Edi",
         "dataScope": "MyQuoteScope",
         "quoteType": "Price",
         "field": "mid",
         "quoteInterval": "2D.0D"
       }
     ]
   },
   "description": "Simple recipe to value equities using price * units"
 }
}'
JSON

This functionality is coming soon. At the moment, you can list your recipes by signing into the LUSID web app and navigating to the Data Management > Recipes dashboard.

To examine a recipe in JSON form, select it and click the View or Edit button. Note a Create recipe button exists but currently there is no wizard to help you do so.

You can specify a portfolio to value and characteristics of appropriate market prices in the LUSID Quote Store and ask LUSID to generate a recipe that calculates the value of each position by multiplying the price of the underlying instrument by the number of units held.

Note: Alternatively, you can supply a simple recipe and ask LUSID to create a more sophisticated recipe for you.

To do this:

  1. Obtain an API access token.

  2. Call the GenerateConfigurationRecipe API, specifying:

    • The scope and code of a transaction portfolio to value.

    • One or more quote scopes encapsulating prices for the underlying instruments loaded into the LUSID Quote Store.

For example, to value a portfolio with a scope of Growth and code of UKEquities using prices encapsulated in a quote scope of MyQuoteScope:

curl -X POST "https://<your-domain>.lusid.com/api/api/aggregation/Growth/UKEquities/$generateconfigurationrecipe" 
  -H "Content-Type: application/json-patch+json" 
  -H "Authorization: Bearer <your-API-access-token>"
  -d '{
  "recipeCreationMarketDataScopes": [
    "MyQuoteScope"
  ],
  "effectiveAt": "2022-11-01"
}'
JSON

LUSID might generate a recipe like the one below (note all recipe options are set to sensible default values):

{
  "scope": "Growth",
  "code": "LUSID_generated_recipe",
  "market": {
    "marketRules": [
      {
        "key": "Quote.Figi.*",
        "supplier": "Lusid",
        "dataScope": "MyQuoteScope",
        "quoteType": "Price",
        "field": "mid",
        "priceSource": "",
        "sourceSystem": "Lusid"
      },
      {
        "key": "Fx.*.*",
        "supplier": "Lusid",
        "dataScope": "default",
        "quoteType": "Price",
        "field": "mid",
        "priceSource": "",
        "sourceSystem": "Lusid"
      }
    ],
    "suppliers": {},
    "options": {
      "defaultSupplier": "Lusid",
      "defaultInstrumentCodeType": "LusidInstrumentId",
      "defaultScope": "default",
      "attemptToInferMissingFx": false,
      "calendarScope": "CoppClarkHolidayCalendars",
      "conventionScope": "Conventions"
    },
    "specificRules": []
  },
  "pricing": {
    "modelRules": [],
    "modelChoice": {},
    "options": {
      "modelSelection": {
        "library": "Lusid",
        "model": "SimpleStatic"
      },
      "useInstrumentTypeToDeterminePricer": false,
      "allowAnyInstrumentsWithSecUidToPriceOffLookup": false,
      "allowPartiallySuccessfulEvaluation": false,
      "produceSeparateResultForLinearOtcLegs": false,
      "enableUseOfCachedUnitResults": false,
      "windowValuationOnInstrumentStartEnd": false,
      "removeContingentCashflowsInPaymentDiary": false,
      "useChildSubHoldingKeysForPortfolioExpansion": false,
      "validateDomesticAndQuoteCurrenciesAreConsistent": false
    },
    "resultDataRules": []
  },
  "aggregation": {
    "options": {
      "useAnsiLikeSyntax": false,
      "allowPartialEntitlementSuccess": false,
      "applyIso4217Rounding": false
    }
  },
  "inheritedRecipes": [],
  "description": "- recipe has been supplemented with additional market data rules",
  "holding": {
    "taxLotLevelHoldings": true
  }
}
JSON