We are excited to announce the release of version 1.1 of the Nucleus API, as part of Hydrogen’s Atom offering. Check the details below to find out what’s new!
Version 1.1 adds fields to the Goal entity to facilitate management of Goals with multiple Accounts and provides two new “orchestration layer” endpoints that simplify the API calls required to accomplish common workflows.
Goal Entity Changes
The following fields have been added to the Goal entity to make it easier to manage a client-specific Goal and accompanying Goal information. This is particularly useful as an alternative to storing Goal information under the Account entity in the case that a Goal consists of multiple Accounts to maintain data integrity.
- goal_amount — optional — monetary amount provided by the Client as the target amount to be reached within the goal horizon.
- accumulation_horizon — optional — time horizon of Goal during the accumulation phase, in years.
- decumulation_horizon — optional — time horizon of the Goal during the decumulation phase, in years.
- client_id — optional — in the case that the Goal is client-specific, the id of the Client to which it belongs.
- is_active — optional — flag to mark a Goal as active or inactive. For example, in the case that a Goal is deleted or completed, it can be marked as inactive using this flag.
Orchestration Layer
The “orchestration layer” endpoints are intended to simplify key workflows required for applications built on top of the platform. The two endpoints included in this release are as follows:
- POST /model/{model_id}/model_change
- POST /account/{account_id}/subscribe
The endpoint POST /model/{model_id}/model_change is used to alter a Model’s composition. Model composition changes represent a change in a Model’s holdings, usually as a result of decisions from a firm’s investing team. When the Model holdings are changed, Model transactions are created that could be used to calculate the Model holdings. This is usually done by a firm’s investing team when setting the Model portfolios that are recommended to clients.
This endpoint creates both the necessary Model holdings and Model transaction records to reflect the changes to the Model composition. The endpoint takes in the details for the new Model holding records, including the model_id and a list of all the Model’s Securities and their corresponding weights. Information should be provided for the new Securities to be added to the Model, the Securities whose weights within the Model change, and Security weights that remain consistent. The endpoint then creates the new Model holding records and returns the information for all of the Model transactions created.
This endpoint eliminates the need to do the following actions, consolidating them into one API call:
- Creating new Model holdings
- Calculating each Model transaction
- Creating each Model transaction to track the changes in the Model’s composition
The endpoint POST /account/{account_id}/subscribe is used to subscribe an Account to an Allocation. In a wealth onboarding process, an Account will subscribe to one or more Allocations to determine the composition of its Portfolios.
This endpoint takes in the same parameters as the POST /account_allocation endpoint and creates the relationship between the Account and the Allocation. It then references the Allocation’s composition to determine the Models below the Allocation, and creates a Portfolio for each Model as needed. The endpoint returns all of the Portfolios created including the portfolio_id and their details. Details such as name and description are taken from the Portfolio’s corresponding Model.
This endpoint eliminates the need to do the following actions, consolidating them into one API call:
- Creating a relationship between the Account and Allocation
- Retrieving the Allocation composition
- Creating the necessary Portfolios
