Asset Class Unification

• Define asset_class and product_type as two distinct, non-overlapping concepts grounded in FpML and the ISDA Common Domain Model (CDM).
• Make ores_refdata_asset_classes_tbl the single source of truth for the asset_class taxonomy, shared by both trading and market data domains.
• Add asset_class to the trading domain (currently missing), giving trades a proper risk classification alongside their structural routing field.
• Rename instrument_family → product_type throughout the system to make its role as a structural discriminator unambiguous.
• Eliminate all hardcoded asset class labels from Qt by replacing them with a new refdata.v1.asset-classes.list NATS endpoint.
• Enforce the asset_class taxonomy at the database level via the existing validation function (currently unused).

• Changing how instrument extension tables are routed — product_type remains the routing key; only the name changes.
• Adding series_subclass to refdata (deferred; see §Assessment below).
• Real-time or streaming asset class cache invalidation in Qt.

• A single ORE coding scheme row exists in ores_refdata_asset_classes_tbl for each of the eight ORE asset class codes.
• ores_marketdata_series_tbl.asset_class is validated by the trigger against the refdata table; invalid codes are rejected at insert time.
• ores_trading_trades_tbl carries an asset_class column validated by the same function.
• Qt loads the asset class combo from the server; no string literals for asset class names exist in client code.
• The C++ enum asset_class in ores.marketdata.api is the single in-process representation; ores.trading.api references the same values.

The apparent name overlap (fx, bond, credit, equity, commodity appear in both taxonomies) is the primary source of confusion. They look similar but answer completely different questions:

Instrument type = "swap"   →   could have asset_class = "rates"
                           →   or asset_class = "credit"    (CDS)
                           →   or asset_class = "equity"    (TRS)
                           →   or asset_class = "inflation" (ZC inflation swap)
                           →   or asset_class = "fx"        (XCCY basis swap)

Instrument type = "bond"   →   could have asset_class = "bond"
                           →   or asset_class = "credit"    (ABS, CDO tranche)
                           →   or asset_class = "rates"     (govt inflation-linker)

This many-to-many relationship proves that instrument type is NOT a refinement of asset class, nor vice versa. A swap does not have an implied asset class; the asset class is a separate attribute of the specific trade. Conflating them (as instrument_family_t inadvertently suggested by sharing names) leads to incorrect reporting and schema ambiguity.

composite and scripted are further evidence: they are ORE-specific structural meta-types with no natural asset class — they may span multiple asset classes — so they literally cannot be expressed in the asset class taxonomy.

A market series is an observable, not an instrument. It does not have a product structure; it has a risk factor type. The asset_class and series_subclass fields on ores_marketdata_series_tbl classify the risk factor being observed, not any instrument.

series_subclass (spot, forward, volatility, yield, etc.) is a market-data-specific sub-taxonomy within an asset class. It has no FpML equivalent and no counterpart in the trading schema. It is not being made data-driven in this plan (see §Assessment of series_subclass below).

After this plan, a trade will carry two orthogonal classification fields:

The product_type column remains a fast PG enum for join performance and routing correctness. The asset_class column is a validated TEXT FK into the refdata table.

The insert trigger at marketdata_series_insert_fn does NOT call ores_refdata_validate_asset_class_fn. Any string is accepted.

Trades have no asset class whatsoever. This means risk reporting by asset class is impossible without inferring from instrument type — which, as shown above, is ambiguous.

Rename instrument_family → product_type throughout:

• Rename PG enum type: instrument_family_t → product_type_t (DDL: ALTER TYPE instrument_family_t RENAME TO product_type_t)
• Rename column: ores_trading_trades_tbl.instrument_family → .product_type
• Update all references: DDL files, trigger functions, indexes, C++ mappers, C++ domain structs, NATS message types, Qt model columns
• Update SQL comments to make the routing role explicit

This is a pure rename — no value changes, no behaviour changes.

• Add 8 rows to fpml_asset_class_artefact_populate.sql (or a new ore_asset_class_artefact_populate.sql) with coding_scheme_code = 'ORE': fx, rates, credit, equity, commodity, inflation, bond, cross_asset
• Add missing FpML entries to the existing populate script: Inflation and Bond with coding_scheme_code = 'FPML_ASSET_CLASS'
• Wire the new ORE populate script into the populate orchestrator
• Register a new DQ dataset ore.asset_class alongside fpml.asset_class
• Publish both to ores_refdata_asset_classes_tbl via ores_dq_asset_classes_publish_fn

• In ores_marketdata_series_insert_fn: add a call to ores_refdata_validate_asset_class_fn(new.tenant_id, new.asset_class) immediately after tenant validation
• Add analogous validation for series_subclass via a check constraint against the 15 known values (lightweight; no refdata table needed)
• Update integration tests to verify a bad asset_class value is rejected

• Add asset_class TEXT column to ores_trading_trades_tbl (nullable for backwards compatibility with existing rows)
• Add validation call to the trades insert trigger
• Add asset_class field to ores.trading.api/domain/trade.hpp
• Update trade mapper (trade_mapper.cpp) to read/write the field
• Update trade repository queries
• Update NATS message types for trade create/update/read to include asset_class
• Qt: add Asset Class column to the trades list view

• Define refdata.v1.asset-classes.list request/response types in ores.refdata.api
• Implement handler in ores.refdata.service: queries ores_refdata_asset_classes_tbl for coding_scheme_code = 'ORE'
• Register handler in the refdata service wiring
• Qt: add ClientAssetClassModel (or reuse a generic refdata list model)
• Remove hardcoded asset_class_label() function from ClientMarketSeriesModel.cpp
• MarketSeriesMdiWindow: populate combo from model, not from literals
• Ensure sort order is consistent (alphabetical by ORE code or by display name)