What is the difference these 2 universes, and which one is considered the standard now? "United States-OLD (Incl. Foreign Primary)" / United States (Incl. Foreign Primary)
The Old version excludes stocks created in the P123 database October 2026. For the U.S. Universes, most of these are OTC today. The count after applying !IsOTC only changes by 3.
As of 10/29/2026:
Universe, Count, !IsOTC
ALLSTOCKS, 14322, 5511
Old ALLSTOCKS, 10159, 5508
ALLFUND, 13152, 5475
Old ALLFUND 9282, 5472
Thanks. I not clear, however, on what you mean by stocks that were "created" in Oct 2026.
The 4000 new stocks were created in the P123 database as part of the P123 move to global data. These are stocks that mostly trade outside the U.S., but are thinly traded on U.S. OTC. Many are ADRs. The new stocks can be found using:
NewOct2026 = TRUE
====================
marco's past messages on this:
==> marco wrote: "In the biggest USA universe, United All Listed stocks there are 4000 new stocks, but only 40 have a median liquidity above $100K.
In other words these new stocks should have very little to no effect to any system but the one targeting micro caps and illiquid stocks."
==> marco wrote: "The biggest change in our new security master has to do with foreign primaries trading in the USA. Around 4000 new stocks for a total of 13K stocks! Let us know if this is the universe you rely on.
Keep in mind that going forward we will strongly discourage using universes that include foreign primary. The data is simply not as good as the data for the primary issue, with many N/As, and results in completely different ratios. If you truly want to rank USA stocks with Foreign stocks you should use a global universe made up of primary data.
We will discuss this tomorrow since it is a very big change for that universe and any other universe that includes foreign primaries.
PS. it's starting to look like we will need to keep the most affected universes , and rename them to "OLD" , or something along those lines."
from: IMPORTANT: Pre-global release next weekend (some downtime and changes expected)
==> marco wrote: "The "Primary" classification comes from FactSet, and it indicates whether a particular issue is the main trading vehicle for an entity. Foreign Primary is a P123 artifact where we identify the main issue for a company in an exchange other than their country of origin.
For ranking and relative comparisons, it is always preferable to use Primary stock data since it is more complete and is not affected by currency. In other words, if you want to compare Samsung to Micron, you should use ratios derived from their primary issues: MU:USA and 005930:KOR.
NOTE: We are preserving the universes with Foreign Primaries in the USA only, but other FP universes are deprecated."
from: Global data including Asia and Emerging now available in beta!
I think I understand. If this is the case, why is the US Easy to trade still including the "United States-OLD (Incl. Foreign Primary)"? Thanks
We forgot to change the starting universe of our "US Easy to Trade". Obviously our own predefined, filtered universes should not be using the OLD "base" universes. We'll change it this weekend. The difference is exactly two stocks:
United States-OLD (Incl. FP)→Easy to Trade US: 3862 stocks
United States (Incl. FP)→Easy to Trade US: 3860 stocks
The two stocks are:
Haymaker Acquisition Corp. V (HYAC.UT)
Southport Acquisition Corp. II (PORT.UT)
This brings up an issue with Easy to Trade US. Should it include these two stocks with basically no fundamentals that just happen to trade above the limits? Probably too late to change that. There are several others. Just try SalesA = NA
Side Note: With the global release we will be referencing universes with no filters as "base". They really should never be used without filters as inputs to any study. There's a lot of junk in base universes.