Understanding reconciliations in LUSID

LUSID enables you to reconcile your holdings, transactions, and valuations between portfolios and portfolio groups.

You can configure a particular reconciliation, and then schedule it to run on your chosen data at a suitable frequency. LUSID subsequently provides you with the results for review, and approval or resubmission.

To set up a reconciliation configuration:

1. Create comparison rules to reference in reconciliation definitions.

2. Create a reconciliation definition specifying the portfolios/groups to reconcile, and rulesets to apply.

3. Schedule the group reconciliation definition to run at your chosen frequency.

To manage your reconciliation results, including breaks and partial matches:

1. Use the dashboard to identify breaks and partial matches, and add break codes and match keys.

2. Submit your review for approval.

3. Rerun the reconciliation, and receive updated or confirmed matches and breaks.

Rules

Reconciliation rulesets, or rules, allow you to define the data to compare for a holding, transaction, or valuation reconciliation.

Once you create a rule, you can use it in any number of reconciliation definitions.

A rule is comprised of the following:

• One reconciliation type out of the following:

  • Holding

  • Transaction

  • Valuation

• One or more core attributes that define which data point to merge on for the left and right side of the comparison

• One or more aggregate attributes that define which data point to compare and reconcile on the left and right

For example, if you have the following holdings data to reconcile:

You might specify:

• LUID as the core attribute, which compares holdings data points on the left and right side of the reconciliation for each matching LUID.

• Holding/Units as your aggregate attribute, which checks for breaks in the units for each matching LUID.

See how to create a reconciliation rule.

Group reconciliation definitions

Reconciliation definitions, also known as group reconciliation definitions, allow you to configure a set of reconciliations to perform on particular left and right portfolios/groups.

Once you create a reconciliation definition, you can point to it when you run a reconciliation.

A reconciliation definition is comprised of the following:

• One or more portfolios or groups for the left and right side of the reconciliation respectively

  Note: LUSID reconciles the same left and right portfolios/groups for all the reconciliation types in the definition.

• A ruleset for each reconciliation type

• Recipes and currencies for valuation reconciliations

• Transaction date windows for transaction reconciliations

See how to create a reconciliation definition.

Reconciliation runs and results

When you run a reconciliation, LUSID creates a comparison result for every row in each of the reconciliation types.

Run status

Each comparison result has its own unique instanceId. You can rerun the same reconciliation and keep track of updates as you rectify or confirm breaks.

A comparison result tells you the:

• Reconciliation definition used for the run

• Datetime the reconciliation ran at

• Reconciliation type for the result (Holding, Transaction, or Valuation)

• Whether the result is a match, partial match, or break between the left and right portfolios/groups

Matches

A match tells you LUSID successfully matched the core attribute values on the left and right side, and found no discrepancies between the aggregate attribute values.

Breaks

A break tells you LUSID was unable to match a value on the left with a value on the right side of the reconciliation.

Partial matches

A partial match tells you LUSID successfully matched the core attribute values on the left and right side, but found some discrepancies between some or all of the aggregate attribute values.

See how to review and manage reconciliation results.