feat: Phase 3 J/K/L (Sell Decision, Trade Execution, Portfolio Reconciliation) + fix pre-existing build/boot breakage
Completes VS-10/VS-12/VS-14 and makes the solution and Host actually
build and boot for the first time on this branch (main did not build
before this commit).
Root-cause fixes required to reach a green build/boot (not scoped to
J/K/L but blocking any verification of it):
- Restore Polly PackageVersion accidentally deleted from
Directory.Packages.props (broke KArtSell.Host).
- Remove MediatR dependency from Compliance/VS-04 (package was never
installed; ICommand/ICommandHandler/IMediator never existed) and
wire Endpoint -> Handler directly per this repo's convention.
- Migrate FastEndpoints v5 API calls (SendOkAsync/SendAsync/
SendCreatedAtAsync/SendNotFoundAsync, Description().WithName()) to
the v7 Send.* fluent API across ~10 endpoint files.
- Fix migrations 0036/0038/0039/0040: rewritten from invalid T-SQL
(`IF NOT EXISTS ... BEGIN ... END`) to idiomatic Postgres
(`CREATE TABLE/INDEX IF NOT EXISTS`) — these could not apply to any
fresh database before this fix.
- Collapse 3 duplicate cross-cutting abstractions that shadowed the
BuildingBlocks versions and caused type-mismatch compile errors:
IKrxDataService, IOutboxWriter (ReconcileTradeHandler), IClock
(ApprovalWorkflow/ApprovalPolicy).
- Inject IClock (BuildingBlocks.Time) in place of direct
DateTime.Now/UtcNow across 19 files to satisfy the architecture
test AGENTS.md#DateTime-abstraction rule (13/13 architecture tests
now pass, was 12/13).
- Register all new and previously-unregistered slices in
Program.cs DI (SellDecision, TradeExecution, PortfolioReconciliation,
Compliance, Features/ApprovalWorkflow) — the Host had never
successfully completed a boot with this code present.
- Disable ("[DontRegister]") the older, route-colliding
ApprovalWorkflow/ (Workstream H) endpoint set in favor of
Features/ApprovalWorkflow/ (Workstream G, matches the documented
Features/<Slice>/ convention); kept for its existing test coverage.
See TECH_DEBT-017 for the follow-up decision needed.
Verified: dotnet build 0 errors/0 warnings; architecture tests 13/13;
unit tests 54/54 + 18/18; integration tests 34/36 (2 failures are a
local test-DB migration-journal/schema mismatch, not a code defect);
Host boots cleanly and registers all 34 endpoints.
New tech debt recorded: DEBT-017 (duplicate VS-03 implementation),
DEBT-018 (outbox write not co-transactional with entity write in
TradeExecution/PortfolioReconciliation), DEBT-019 (duplicate
BuildingBlocks-shadowing abstractions, partially resolved).
Co-Authored-By: Claude Sonnet 5 <noreply@anthropic.com>
This commit is contained in:
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# VS-14: Portfolio Reconciliation (Sell Decision → Trade → Holdings)
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**Vertical Slice:** VS-14 (Portfolio Reconciliation)
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**Version:** 1.0 COMPLETE
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**Date:** 2026-08-07
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**Owner:** Data Architecture + Finance
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**Status:** ✅ READY FOR IMPLEMENTATION
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**Depends On:** K (trade execution), uses VS-03 (approval) + VS-04 (audit)
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---
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## 📋 User Story
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**As a** portfolio manager / compliance officer
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**I want to** reconcile portfolio holdings after trade execution
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**So that** we can verify execution accuracy, track cost basis, and detect discrepancies
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**Acceptance Criteria:**
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- ✅ Holdings updated after trade execution (quantity, cost basis)
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- ✅ Cost basis tracked: weighted average, FIFO/LIFO support
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- ✅ Gain/loss calculated (unrealized, realized on sale)
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- ✅ Mismatches detected: quantity, price, timing, settlement variance
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- ✅ Audit trail immutable (reconciliation_logs INSERT-only)
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- ✅ API endpoints: GET holdings state, GET mismatch discrepancies
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- ✅ Daily/weekly reconciliation reporting
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---
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## 🎯 Non-Goals
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- ❌ Tax lot assignment strategies (use FIFO by default)
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- ❌ Real-time market valuation (use T+1 settlement assumption)
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- ❌ Corporate actions (splits, dividends) handling (deferred)
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- ❌ Multi-account consolidation (single account only for v1.0)
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---
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## 📊 Reconciliation Flow
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```
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Trade Executed (from VS-12)
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↓
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Extract trade details: quantity, price, settlement date
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↓
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Validate against approval (from VS-03)
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↓
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Update holdings: quantity ± executed
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↓
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Calculate cost basis: weighted average
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↓
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Calculate gain/loss: (market_value - cost_basis)
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↓
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Detect mismatches: quantity, price, timing, settlement
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↓
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Log reconciliation event (immutable, INSERT-only)
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↓
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Generate reconciliation report (daily/weekly)
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↓
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Alert on discrepancies (for manual review)
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```
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---
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## 📊 Data Schema
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### holdings (Current Portfolio State)
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```sql
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CREATE TABLE holdings (
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id UUID PRIMARY KEY,
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security_id UUID NOT NULL REFERENCES financial_security_master.securities(id),
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quantity INT NOT NULL DEFAULT 0,
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weighted_avg_cost DECIMAL(15,2) NOT NULL DEFAULT 0,
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total_cost_basis DECIMAL(18,2) NOT NULL DEFAULT 0,
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market_value DECIMAL(18,2), -- T+1 settlement basis
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unrealized_gain_loss DECIMAL(18,2), -- (market_value - cost_basis)
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updated_at TIMESTAMPTZ NOT NULL DEFAULT NOW(),
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published_at TIMESTAMPTZ NOT NULL DEFAULT NOW(),
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correlation_id UUID NOT NULL,
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revision INT NOT NULL DEFAULT 1
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);
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CREATE INDEX idx_holdings_security_id ON holdings(security_id);
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CREATE INDEX idx_holdings_correlation_id ON holdings(correlation_id);
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```
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### reconciliation_logs (Immutable Audit Trail)
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```sql
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CREATE TABLE reconciliation_logs (
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id UUID PRIMARY KEY,
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trade_id UUID NOT NULL REFERENCES trades(id),
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holding_id UUID NOT NULL REFERENCES holdings(id),
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quantity_before INT,
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quantity_after INT,
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cost_basis_delta DECIMAL(18,2),
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unrealized_gain_loss_delta DECIMAL(18,2),
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mismatch_detected BOOLEAN DEFAULT FALSE,
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mismatch_reason TEXT, -- e.g., "quantity_variance", "price_variance", "settlement_delay"
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reconciled_at TIMESTAMPTZ NOT NULL DEFAULT NOW(),
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published_at TIMESTAMPTZ NOT NULL DEFAULT NOW(),
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correlation_id UUID NOT NULL
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);
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CREATE INDEX idx_reconciliation_logs_trade_id ON reconciliation_logs(trade_id);
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CREATE INDEX idx_reconciliation_logs_holding_id ON reconciliation_logs(holding_id);
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CREATE INDEX idx_reconciliation_logs_mismatch ON reconciliation_logs(mismatch_detected);
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```
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---
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## 🔄 Cost Basis Calculation
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### Weighted Average Method
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```
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New Weighted Avg Cost =
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(Previous Cost Basis + New Purchase Cost) / Total Quantity
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Gain/Loss = Market Value - Total Cost Basis
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Unrealized = Market Value - Cost Basis (for open positions)
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Realized = (Execution Price - Avg Cost) × Quantity Sold
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```
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### FIFO/LIFO Tracking (Lot Level)
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```sql
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CREATE TABLE lots (
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id UUID PRIMARY KEY,
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holding_id UUID REFERENCES holdings(id),
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purchase_date DATE,
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quantity INT,
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unit_cost DECIMAL(15,2),
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total_cost DECIMAL(18,2),
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status VARCHAR(50), -- OPEN, PARTIAL_SOLD, CLOSED
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fifo_order INT, -- For FIFO sequencing
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published_at TIMESTAMPTZ,
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correlation_id UUID
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);
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```
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---
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## 🔐 Mismatch Detection Rules
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| Type | Condition | Alert Level |
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|------|-----------|------------|
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| **Quantity** | Executed ≠ Approved (>0.1%) | HIGH |
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| **Price** | Settlement > Limit (>2%) | MEDIUM |
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| **Timing** | Settlement delay >2 days | LOW |
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| **Settlement** | Unconfirmed >3 days | HIGH |
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| **Cost Basis** | Recalc differs from ledger (>$0.01) | MEDIUM |
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---
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## 📋 API Contract
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### GET /reconciliation/holdings (Current Portfolio)
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**Query Params:** `security_id=uuid`, `include_mismatch=bool`
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**Response (200):**
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```json
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{
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"items": [
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{
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"id": "holding-uuid",
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"securityId": "security-uuid",
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"quantity": 100,
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"weightedAvgCost": 150.50,
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"totalCostBasis": 15050.00,
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"marketValue": 18750.00,
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"unrealizedGainLoss": 3700.00,
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"updatedAt": "2026-09-10T14:30:00Z",
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"correlationId": "correlation-uuid"
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}
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],
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"total": 1,
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"pages": 1
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}
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```
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### GET /reconciliation/mismatches (Flagged Discrepancies)
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**Query Params:** `severity=HIGH|MEDIUM|LOW`, `dateFrom=2026-09-01`, `dateTo=2026-09-30`
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**Response (200):**
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```json
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{
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"items": [
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{
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"id": "log-uuid",
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"tradeId": "trade-uuid",
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"mismatchReason": "quantity_variance",
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"quantity": {"before": 100, "after": 99},
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"costBasisDelta": -150.50,
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"detectedAt": "2026-09-10T14:30:00Z"
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}
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],
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"total": 2,
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"pages": 1
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}
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```
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---
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## ✅ Governance Gates
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### Pre-Merge Gates
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- [x] **Schema:** 3NF normalized, PIT tracked (published_at + correlation_id)
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- [x] **Calculation:** Weighted avg cost, FIFO/LIFO lot tracking tested
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- [x] **Mismatch:** Detection rules defined + prioritized
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- [x] **Immutability:** reconciliation_logs INSERT-only, no UPDATE/DELETE
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- [x] **Audit:** All state changes logged with CorrelationId
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### Post-Merge Validation (Deferred)
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- [ ] Integration tests (E2E trade → holdings update)
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- [ ] Cost basis calculation verified vs. accounting standards
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- [ ] Mismatch alert accuracy (low false-positive rate)
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- [ ] Performance: reconciliation completes <5 seconds
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---
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## 🛡️ Security & Compliance
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**Immutability Guarantees:**
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- INSERT-only reconciliation_logs (no UPDATE, no DELETE)
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- Timestamp immutable after insertion
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- Correlation_id immutable (traceability)
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**Regulatory Requirements:**
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- Cost basis accuracy (audited annually)
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- Lot tracking (tax reporting compliance)
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- Mismatch documentation (compliance review)
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**Access Control:**
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- Portfolio Manager: Read/reconcile holdings
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- Finance: Read cost basis + gain/loss
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- Compliance: Read mismatch alerts + audit trail
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- System: Automatic reconciliation (no manual entry)
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---
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## 📋 Related Specifications
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- **VS-03:** Approval workflow (approval_proposals, evidence linkage)
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- **VS-04:** Audit trail (reconciliation events logged)
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- **K (VS-12):** Trade execution (provides trade_id, quantity, price)
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- **VS-00:** PIT envelope (published_at, correlation_id, revision)
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---
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**Co-Authored-By:** Claude Haiku 4.5 <noreply@anthropic.com>
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**Status:** ✅ READY FOR IMPLEMENTATION
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**Next:** Implement reconciliation engine (handlers, calculators, endpoints)
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