A recipe is a hierarchical, modular document containing rules whose primary purpose is to govern the process of performing a valuation operation. See how to create or generate a recipe.

Note: Recipes can also be used to organise data and provide methodologies governing other analytical operations, such as reconciliation and cash reporting.

A recipe is responsible for:

  • Locating market data
    This can be equity or bond prices or FX rates held in the LUSID Quote Store, or more complex market data for valuing derivatives such as interest rate curves or volatility surfaces held in the LUSID Complex Market Data Store.
  • Changing the default pricing models for instrument types
    Each instrument type (equity, bond, future and so on) has a default pricing model provided by LUSID that you can either override or swap for a pricing model from a 3rd party vendor.
  • Providing a set of default options
    You can override the defaults to configure various aspects of a recipe's behavior, including aggregation (the process of deciding which metrics to report).
  • Optionally, incorporating valuation results from other systems
    Partial or complete results can be held in the LUSID Structured Result Store and incorporated into or replace certain valuation results calculated by LUSID.

You can create and store a library of static recipes. You can also compose recipes dynamically from static recipes in order to quickly and conveniently make changes.