---
title: "What are instrument features?"
slug: "what-are-instrument-features"
tags: ["instrument", "feature", "feature key"]
updated: 2025-02-27T13:22:46Z
published: 2025-02-27T13:22:46Z
canonical: "support.lusid.com/what-are-instrument-features"
---

> ## Documentation Index
> Fetch the complete documentation index at: https://support.lusid.com/llms.txt
> Use this file to discover all available pages before exploring further.

# What are instrument features?

LUSID automatically categorises the *features* of certain [types of OTC instrument](/v1/docs/what-instruments-does-lusid-support). You can optionally use these categories in a recipe to:

- [Select different pricing models](/v1/docs/recipes-changing-the-default-pricing-models-for-instrument-types#selecting-different-pricing-models-for-the-same-instrument-type) for instruments of the same type.
- [Override market data rules](/v1/docs/recipes-locating-market-data#overriding-market-data-rules-for-particular-instruments) for a particular set of instruments.

To see the feature categories for a particular instrument type, call the [GetAllPossibleFeatures](https://www.lusid.com/docs/api#operation/GetAllPossibleFeatures) API. For example, the following response for `FxOption` reveals that FX option contracts have a `Instrument/Features/ExerciseType` key and can either be `American` and exercised at any time, or `European` and only exercised at the maturity date. By omission, Bermudan-style option contracts are not supported:

```json
{
  "Instrument/Features/ExerciseType": [
    "American",
    "European"
  ],
  "Instrument/Features/OptionType": [
    "Call",
    "Put"
  ],
  "Instrument/Features/DeliveryType": [
    "Physical",
    "Cash"
  ],
  "Instrument/Features/Barrier": [
    "Double",
    "Single"
  ],
  "Instrument/Features/Touch": [
    "Two",
    "One",
    "No"
  ],
  "Instrument/Features/PayoffType": [
    "Digital",
    "Vanilla"
  ]
}
```

To examine the categories for an existing instrument, call the [GetExistingInstrumentCapabilities](https://www.lusid.com/docs/api#operation/GetInstrumentCapabilities) API with its [LUID](/v1/docs/what-is-a-lusid-instrument-id-or-luid); the response reflects the choices you made when you mastered that instrument:

```json
{
  "instrumentId": "LUID_00003D64",
  "model": "Unknown",
  "features": {
    "Instrument/Features/OptionType": "Call",
    "Instrument/Features/DeliveryType": "Physical",
    "Instrument/Features/ExerciseType": "European",
    "Instrument/Features/PayoffType": "Vanilla"
  },
  ...
}
```

Alternatively, you can call the [QueryInstrumentCapabilities](https://www.lusid.com/docs/api#operation/QueryInstrumentCapabilities) API, which returns information about supported metrics and market data dependencies in addition to features. [See an example](/v1/docs/what-market-data-does-my-valuation-require).

> **Note:** If you find you need an additional license to use these APIs, [contact Technical Support](https://www.finbourne.com/contact).