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RightCapital Knowledge Base

Morningstar Integration

Morningstar is RightCapital’s primary source for Security Master data - the reference data for all securities (stocks, bonds, mutual funds, ETFs) including prices, fundamentals, and identifiers.

Repository: gitlab.rightcapital.io/integrations/morningstar

What is Security Master?

Section titled “What is Security Master?”

Security Master is the authoritative database of security information:

Data TypeExamples
IdentifiersCUSIP, ISIN, Ticker, SEDOL
Basic InfoName, type, asset class
PricingDaily close price, NAV
FundamentalsP/E ratio, yield, expense ratio
ClassificationSector, industry, category

Data Flow

Section titled “Data Flow”
flowchart LR
    subgraph Morningstar
        MF[Morningstar Files]
    end

    subgraph RightCapital
        MS[Morningstar Service]
        S3[(S3)]
        DB[(Security Master DB)]
    end

    MF -->|Daily Files| MS
    MS -->|Store| S3
    MS -->|Parse & Update| DB

Daily Update Process

Section titled “Daily Update Process”
  1. Morningstar generates files - Daily, after US market close
  2. We download files - Via SFTP or API
  3. Parse and validate - Extract security data
  4. Update database - Insert new securities, update prices
  5. Mark stale data - Flag securities with missing updates

Key Data Files

Section titled “Key Data Files”
File TypeContentFrequency
End of Day PricesClose prices for all securitiesDaily
Security MasterFull security attributesDaily/Weekly
Corporate ActionsSplits, dividends, mergersAs they occur
ClassificationsSector/industry assignmentsPeriodic

Security Matching

Section titled “Security Matching”

When integration data comes from Vendors, we need to match their securities to our Security Master:

flowchart LR
    V[Vendor Security] -->|CUSIP/Ticker| M[Matching Pipeline]
    M -->|Match Found| SM[Security Master Record]
    M -->|No Match| U[Unmatched Queue]
    U -->|Manual Review| SM

Matching Keys (Priority Order)

Section titled “Matching Keys (Priority Order)”
  1. CUSIP - Most reliable US identifier
  2. ISIN - International standard
  3. Ticker + Exchange - Less reliable (tickers can be reused)
  4. Name matching - Fuzzy match as fallback

Common Issues

Section titled “Common Issues”

Missing Security

Section titled “Missing Security”

Security from Vendor not in our Security Master:

  • May be a new security
  • May be a private/custom security
  • May need manual addition

Stale Prices

Section titled “Stale Prices”

Price not updating:

  • Morningstar data feed issue
  • Security may have been delisted
  • Check if security is still active

Wrong Match

Section titled “Wrong Match”

Vendor security matched to wrong Security Master record:

  • Usually ticker reuse problem
  • Fix mapping manually
  • Report to improve matching logic
Section titled “Related”

Source

Section titled “Source”