FTB-C000006 / Data quality concept

Universe Partition

A universe partition assigns every eligible issue to exactly one declared classification bucket.

Also known asbreadth classification partition

Advanced 4 linked topicsPublished

Definitions

In plain terms

Before trusting a breadth count, the builder checks that every eligible security is accounted for once and only once, including records that cannot yet be classified.

Technical

In the pilot contract, the partition is exhaustive and mutually exclusive across advancing, declining, unchanged, excluded, and unclassified issues, and its counts reconcile to universe size.

Scope

Nasdaq documents several published summary categories; the five-part exhaustive reconciliation and its failure behavior are explicit Fintech Builder data-contract choices.

Examples

  • A 500-issue universe can reconcile as 240 advancing, 210 declining, 30 unchanged, 15 excluded, and 5 unclassified.

Common misconceptions

  • An unclassified issue is not automatically unchanged or excluded.

Concept relationships

Prerequisites

Derived from

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
  • D04-F01-A01 Important
  • D04-F01-A02 Important
  • D04-F01-A03 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.