Prices from your providers reach your tokens' price feeds through checks, and every published price keeps the record of the delivery it came from. 3.2 adds price sources that collect SFTP files, FIX market data and two vendor APIs and publish only the prices that pass. The Bloomberg and LSEG requests follow each vendor's public documentation and have not run against the live services.
Each delivered price is checked in a fixed order, and its outcome is recorded whether it publishes or not
A price source brings prices in. It maps your provider's ISINs to your tokens' price feeds, and valuation, compliance and reporting read the price it publishes.
- Providers
- SFTP files, FIX, two vendor APIs
- Evidence
- Raw delivery kept with its hash
- Large moves
- Held once you turn on the Prices rule
- Stale feeds
- One operations case per episode
Before and after
Before 3.2: A price reached a token's feed because someone keyed it in or a script pushed it. A wrong currency or a stale file went through unless a person caught it, a large move published without a second look, and the question “which delivery did this price come from” had no recorded answer.
With 3.2: the platform fetches each delivery, keeps the raw file or message with its hash, and runs every price through ordered gates. Each price either publishes or records why it did not. With the organisation's “Prices” approval rule on, a large move or a correction waits for a second approver, and a feed that stops updating opens an operations case that names the likely cause.
The platform keeps each delivery with its hash, checks every price through ordered gates and publishes the ones that pass, recording the outcome either way.
Bring prices in from the providers you already use
A feeds manager connects a provider once, and its prices arrive without anyone typing them in. Under “Data feeds” › “Sources”, Add source asks how the source delivers prices: “File” for an SFTP server with CSV or ISO 20022 reda.001 files, “FIX” for a market data session, or “REST” for Bloomberg Data License or LSEG DataScope Select.
A fund administrator's feeds manager adds the custodian's SFTP server for its end-of-day CSV, stores the credential, which is never shown again, and runs Test connection, which shows the server's host key to compare with the one the custodian published. The manager trusts the key, chooses “Map instrument” for each ISIN and its token, and selects “Activate”. A token that has no price feed gets one in the same step. From the next delivery on, the platform polls the server, reads each file once it stops changing and turns every row into an observation, the record of one price as delivered. The Bloomberg and LSEG sources were built and tested against each vendor's documented requests, and a run against a live account has to confirm them before you rely on them.
Your team sees each price source, how it delivers and when it last delivered.
Know why each price published or did not
Every delivered price passes the same gates in the same order, and the first one that applies decides it. The platform drops a repeat or a price older than the feed's newest, refuses a wrong currency or a future-dated price, and skips a move below the publish threshold. When the source's heartbeat interval has passed since the last publish, a newer observation publishes even when it moved less. The outcome is recorded on the price, so the Deliveries tab shows for each delivery how many prices were accepted, rejected, dropped, held and published.
On a token's “Placement” tab, the Price card shows where the price came from under “Price from”, who signed it under “Signed by”, and “View evidence” opens the record the provider delivered. When an auditor asks where a fund's price came from, the answer sits on the price. A paused source, or one stopped by a credential or configuration failure, publishes nothing until a feeds manager restarts it.
Hold a large move for a second approver once the rule is on
When your organisation turns on the “Prices” approval rule, a price that moved more than the source's tolerance, or that corrects a price already published, waits on the source's Held prices tab and as a “Held price” row in the Actions inbox. A feeds manager or a holder of the token's Governance role opens it, compares the received price with the last published one against the tolerance, reads the evidence, and approves or rejects it with a PIN. Whoever set up or changed the source, mapped its instruments or asked for the delivery cannot decide it. If a newer price moved past the tolerance while the sheet was open, the approval is refused and the sheet shows the current state. Approval rules start off, and with this one off, such a price publishes and the platform records a waived approval instead of a review.
Hear about a stale feed before a valuation uses it
The platform checks every mapped feed each minute and opens one operations case when a feed passes its staleness bound. The case names the likely cause, such as a paused source, a source failing on its credential, a price waiting for review or a delivery the gates rejected, so the operator knows where to look first. It closes by itself when a fresh price lands. Freshness counts from the time the provider observed the price, so a late approval or a price sent again does not make a feed look fresher than its data. Stale feeds have no webhook event of their own, so an outside system follows them through the operations case events.
Upgrading
Price sources are new in 3.2 and need no deployment switch. Feeds you maintain by hand keep working as before. Once a price source maps a feed, a manual value for it goes through the single publish and waits its turn behind the source, and a manual batch that includes that feed is refused. Before a source can connect, the operator allows the platform's outbound connections to your providers, and Bloomberg adds the address the platform calls from to its allow list, as Prepare a price source describes. The “Prices” approval rule starts off in every organisation, and an organisation owner or a platform administrator turns it on under Approvals in the General settings. On an instance SettleMint operates, a platform administrator may be SettleMint staff.
Why it matters
- Banks: valuation, collateral and reporting read prices that came from your own providers through recorded checks.
- Regulators: each price a source publishes traces to the delivery it came from, its hash, the key that signed it and, for a held price, the person who approved it. A value entered by hand has no delivery behind it.
- Partners: A custodian or data vendor delivers by SFTP file, with the columns the source names, or over a FIX session, with the entry types the source maps, and DALP fetches it. A Bloomberg or LSEG source needs a run against a live account before anyone relies on it.