7.2.1 Bucket Definition

An Intraday bucket definition can support a maximum of 24 hour interval of time buckets. This interval is defined by the Start Time and End Time which is taken as an input by the application. The Start and End time are referred to as the bucket limits. Within each level, there are numerous buckets spanning from the start time up to the end time. Up to five levels can be defined within a time bucket definition. Level 0 definition is mandatory for defining an intraday bucket definition.

The inputs required\rules for defining an intraday bucket are as follows:

1. In the Start Time and End Time field, you can enter the maximum start and end times of payment systems with reference to a legal entity. For example, if a legal entity has 3 payments systems with start time as follows:
   • Payment system 1: 09:00 to 17:00
   • Payment system 2: 00:00 to 13:00
   • Payment system 3:10:00 to 20:00.

   In this case, the from and to values are chosen as: 00:00 and 20:00.

   Only HH and MM are taken as an input. The seconds part is automatically added by the application and SS is always 00. In the above example; from and to values to be stored are 00:00:00 and 20:00:00.

2. The multiplier is in the form of Seconds, Minutes and Hours.
3. Uniform interval time buckets only can be defined. For every level, the frequency and multiplier chosen under that level applies to the entire duration of the bucket limits.
4. The number of buckets at each level is computed by the application based on the bucket limits, frequency and multiplier. For example: If bucket limits are 09:00 to 16:00 and level zero has frequency and multiplier of 1 second, then every second between 09:00:00 and 16:00:00 serves as one bucket.
5. Additionally, consider the following points before defining an intraday bucket:
   1. Maximum Frequency is 59 in case of seconds and minutes; and 23 in case of hours.
   2. Frequency cannot be zero or fractions. Frequency must be a whole number greater than zero always.
   3. Level 1 and the higher levels must be at a greater granularity than the underlying levels. The following must be considered before defining higher levels:
      • Multiplier of a higher level must always be equal to or greater than multiplier at a lower level. This implies that if level zero is defined in minutes, then the higher levels can only be in minutes/hours. Dropdown values for multipliers in the higher level reflect the same.
      • In case when multiplier between higher and lower levels are same, then it must be ensured that frequency of the higher level must be greater than the frequency of the lower level.
      • The (frequency x multiplier) of the higher level must be a whole multiple of the (frequency x multiplier) of the lower level.

        Example 1: Level 0= 1 second, Level 1 can be 5 seconds, 1 minute, 10 minutes and so on.

        Example 2: If Level 0 =5 seconds, then level 1 can be 10 seconds, 15 seconds, 1 minute etc. Level 1 in this case cannot have values like 7 seconds, 8 seconds and so on.