The Reference Data Center allows you to composite, validate, and cleanse security reference data from external vendors and internal sources, creating one or more "gold copies" that downstream systems can leverage.
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| There are multiple validation checks throughout the workflow. For example, the system can optionally validate the vendor data, the enrichments to the gold copy security, and the gold copy security information. You can also perform validations when you create a new security in the Reference Data Center UI. |
The workflow consists of the following steps: 1. Load
- Load the security reference data
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- Validate the vendor data (optional)
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- Create the gold copy security record
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- Enrich the gold copy security record (optional)
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- Validate the gold copy security record (optional)
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- Resolve the exceptions
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- Release the gold copy security record
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- Distribute the gold copy security record
A description of each step in the workflow follows.
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The security reference data is loaded from external vendors and internal systems into the SECURITY database tables in the Eagle data warehouse, creating a centralized data repository. This includes the following data: ■ Securities
- Securities
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- Analytics
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- Ratings
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- Variables rates
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- Prepayment time series
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- Underlying securities
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- Vendor History (view only)
You can also load, view, and edit the following related security detail information, without compositing, validation, and enrichment: ■ Corporate
- Corporate actions
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- Call and Put schedules
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- Factors
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- Third Party cash flows
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The gold copy security record is released to the SECURITY database in the Eagle data warehouse. To process transactions more quickly, some fields may be released prior to the resolution of all validation errors. This is known as a partial release. They can also be released as a set within a field group.
The release level determines whether the gold copy security record is eligible for use by downstream systems. The release status for the overall security is set to the lowest release level where all fields associated with that release level have been released. For example, suppose the status of the security is Released for Trading because all Level 1 fields have passed. This means, all Level 1 fields are released to the Eagle data warehouse. Suppose some Level 2 and all of the Level 3 fields have also passed. Those Level 2 and Level 3 fields are also released to the Eagle data warehouse, however, the status of the security will still be Released for Trading. Only when all of the Level 3 fields have passed will the Release Level field change to Released with No Exceptions.
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