# IPO Availability Timestamping

> Separate Listing Events from Research Knowledge

`D02-F04-A03` · Corporate Actions and Security Master Data → Point-in-Time Universe · archetype `record-transform` · difficulty 3/5 · verification **verified**

Full page: https://docs.thefintechbuilder.com/corporate-actions-and-security-master-data/point-in-time-universe/ipo-availability-timestamping/
Agent skill: `npx skills add IslamBaraka90/Fintech-Algorithms-Library` — https://docs.thefintechbuilder.com/guides/agent-skill/

## Install and import

```bash
npm install fintech-algorithms
```

```ts
import { calculate } from "fintech-algorithms/corporate-actions-and-security-master-data/point-in-time-universe/ipo-availability-timestamping";
```

## Signature

```ts
calculate(data)
```

Decides when a newly listed security first became usable — not when it was listed, but when enough history existed to satisfy the policy a strategy actually applies.

## Parameters

| Name | Type | Required | Notes |
| --- | --- | --- | --- |
| `data` | `{ query: object; policies: Policy[]; records: Record[] }` | yes | `policies` states the seasoning rules — minimum trading days, minimum float, minimum liquidity — so the availability date follows from a declared rule rather than a hard-coded constant. |

## Returns

`{ effectiveAt, knownAt, identity, policyId, status, policySatisfied, effectiveGateAt, … }`

The date the security became eligible under the named policy, plus which gate was the binding one.

## Errors

- When the referenced policy does not exist — throws

## Complexity

Time `O(records)`, space `O(1)`.

## Worked example

This is the worked example published in the article, replayed by the test suite on every run. The output cannot drift.

### Input

`data`:

```json
{
  "query": {
    "issuerId": "ISSUER-SYN-001",
    "instrumentId": "INSTRUMENT-SYN-001",
    "listingId": "LISTING-SYN-XNAS",
    "effectiveAt": "2025-05-13T13:36:10Z",
    "knownAt": "2025-05-13T13:36:10Z",
    "policyId": "POLICY-SYN-IPO-RESEARCH"
  },
  "policies": [
    {
      "policyId": "POLICY-SYN-IPO-RESEARCH",
      "revision": 1,
      "state": "active",
      "effectiveAt": "2025-05-01T00:00:00Z",
      "availableAt": "2025-05-01T00:05:00Z",
      "sourceId": "SYN-RESEARCH-GOVERNANCE",
      "context": "traditional_ipo",
      "marketPhase": "regular",
      "requiredEventTypes": [
        "registration_effective",
        "listing_notice",
        "first_eligible_session",
        "first_observed_trade",
        "vendor_release",
        "local_ingestion"
      ]
    },
    {
      "policyId": "POLICY-SYN-IPO-RESEARCH",
      "revision": 2,
      "state": "active",
      "effectiveAt": "2025-05-01T00:00:00Z",
      "availableAt": "2025-05-14T09:00:00Z",
      "sourceId": "SYN-RESEARCH-GOVERNANCE",
      "context": "traditional_ipo",
      "marketPhase": "regular",
      "requiredEventTypes": [
        "registration_effective",
        "listing_notice",
        "first_eligible_session",
        "first_observed_quote",
        "first_observed_trade",
        "vendor_release"
      ]
    }
  ],
  "records": [
    {
      "eventId": "EV-FILING",
      "revision": 1,
      "state": "active",
      "eventType": "issuer_filing",
      "issuerId": "ISSUER-SYN-001",
      "instrumentId": "INSTRUMENT-SYN-001",
      "listingId": "LISTING-SYN-XNAS",
      "marketPhase": "all",
      "effectiveAt": "2025-05-05T14:00:00Z",
      "availableAt": "2025-05-05T14:03:00Z",
      "clockOwner": "regulator",
      "sourceId": "SYN-REGULATOR-FILING"
    },
    {
      "eventId": "EV-EFFECT",
      "revision": 1,
      "state": "active",
      "eventType": "registration_effective",
      "issuerId": "ISSUER-SYN-001",
      "instrumentId": "INSTRUMENT-SYN-001",
      "listingId": "LISTING-SYN-XNAS",
      "marketPhase": "all",
      "effectiveAt": "2025-05-08T12:00:00Z",
      "availableAt": "2025-05-08T12:02:00Z",
      "clockOwner": "regulator",
      "sourceId": "SYN-REGULATOR-EFFECT"
    },
    {
      "eventId": "EV-LIST",
      "revision": 1,
      "state": "active",
      "eventType": "listing_notice",
      "issuerId": "ISSUER-SYN-001",
      "instrumentId": "INSTRUMENT-SYN-001",
      "listingId": "LISTING-SYN-XNAS",
      "marketPhase": "all",
      "effectiveAt": "2025-05-13T13:30:00Z",
      "availableAt": "2025-05-08T15:10:00Z",
      "clockOwner": "exchange",
      "sourceId": "SYN-EXCHANGE-NOTICE"
    }
  ]
}
```

### Call

```ts
calculate(data)
```

### Returns

object with 4 fields: status, effectiveGateAt, knowledgeGateAt, missingEventTypes

```json
{
  "status": "resolved",
  "effectiveGateAt": "2025-05-13T13:36:00Z",
  "knowledgeGateAt": "2025-05-13T13:36:05Z",
  "missingEventTypes": []
}
```

## Verification and provenance

Tier: **verified** (via input-expected).

The worked example below is the figure published in this algorithm's article, replayed and asserted by the test suite on every build. The arithmetic cannot drift without the build failing.

Both tiers guarantee the signature. Full explanation: https://docs.thefintechbuilder.com/guides/verification/

Generated from the docs.json payload shipped inside fintech-algorithms@0.13.1.
The signature and parameter list are checked against the compiled implementation at build time,
so a description that contradicts the code fails the build rather than reaching this file.

## Links

- Article (how it works, step by step): https://thefintechbuilder.com/corporate-actions-and-security-master-data/point-in-time-universe/ipo-availability-timestamping/
- Implementation source: https://github.com/IslamBaraka90/Fintech-Algorithms-Library/blob/main/src/corporate-actions-and-security-master-data/point-in-time-universe/ipo-availability-timestamping/impl.ts
- Package on npm: https://www.npmjs.com/package/fintech-algorithms
- Domain index for agents: https://docs.thefintechbuilder.com/corporate-actions-and-security-master-data/llms.txt