FTB-C000005 / Evidence concept

Point-in-Time Issue Universe

A point-in-time issue universe is the eligible security set established using information valid for the session being calculated.

Also known asPIT issue universe

Advanced 7 linked topicsPublished

Definitions

In plain terms

The universe answers which securities were actually eligible on that date, without adding later listings or removing securities only because their later history is now known.

Technical

A point-in-time issue universe is a versioned roster produced under a stable membership methodology, session calendar, identity scheme, and causal information cutoff for one venue or feed scope.

Scope

This pilot definition governs reproducible breadth inputs; it does not claim that a free aggregate market-summary file exposes a complete historical member roster.

Examples

  • A 2024 breadth calculation uses the issues eligible in 2024, not today's surviving listings.

Common misconceptions

  • A current security list cannot automatically reconstruct a historical point-in-time universe.

Concept relationships

Required by

Where this concept is used

Tutorials planned

These catalogued topics use this concept, but their complete build has not shipped yet.

  • D02-F04-A01 Important
  • D02-F04-A02 Prerequisite
  • D04-F01-A01 Prerequisite
  • D04-F01-A02 Prerequisite
  • D04-F01-A04 Important
  • D04-F01-A05 Important

Evidence and governance

  1. Daily Market Summary Data Fields and Definitions Nasdaq, Inc. · official exchange

    Supports: short definition, technical definition, units

    Limits: Does not define the pilot's exhaustive partition, causal cutoff, revision lineage, EMA policy, or normalized breadth formula.

Reviewed by
Last reviewed
2026-07-26
Next review
2027-07-26
Record status
published
Written by

Fintech engineer building market-data and financial systems, and the author of every article, glossary record, and reference implementation on The Fintech Builder.