Set Up Price Validations

Validations are quality checks that can be applied to pricing data to assist with determining the accuracy of the data. Reverence Data Center currently has nineteen validation test types that can be configured for a customer’s business needs. You can set up price validations in Reference Data Center using the Price Validations wizard. Here you can select the data to validate, define the security criteria, set up validation tests, and define the release logic.

To set up price validations:

1. In the Setup workspace, in the left navigation, click Validations.
   You see the Validations workspace with Validation page displayed.
2. Click Create New and from the drop-down, select Price.
   You see the Create New Validation wizard.

Define the Validations

In the Define page you define the data to validate and enter a name and ID for the validation.

To define the validations:

1. In the ID box, the system assigns a value systematically but you can override this value and enter your own unique identifier.
2. In the Name box, enter a name for the field group.
3. You can click the Description box and enter a description of the field group.
4. In the Processing Method field, click the check box to Process this validation rule for all data strategies that have global processing selected.
5. Click the Enabled check box to activate the validation.
6. In the Data to Validate section, click Vendor Data.
7. Click Next.
8. You see the Criteria page.

Define the Security Criteria

In the Criteria page you can define security criteria and/or holding criteria.  This can be as granular or as broad as is needed by the business.  Field attributes configured against security attributes are leveraged in this tab.

To define the security criteria:

1. In the Security Criteria field, click Define to display the Logic builder.

2. Use the Logic Builder to define your security criteria. When you have completed, click Save and Close to return to the Criteria page.
   You see the newly defined criteria displayed in the space under Security criteria.

   For more information on using the Logic Builder, see Use the Logic Builder.

3. Click Next.
   You see the Fields & Validations Page.

Set Up Validation Tests and Define Release Logic

In the Fields & Validations page you can identify the price record, set up validations tests and define the release logic for the record based on the test results.

1. In the Fields section, select a Field from the drop-down list.
2. Select a Source from the drop-down list.
3. Select an Exchange from the drop-down list.
   This creates the record.
4. In the Validations test section, select a Name from the drop-down list to identify the validation test.
5. Select a Validation Type from the drop-down list.
6. In the Error field, select either Error Code or Error Description from the drop-down list and then enter the corresponding code or description. 

7. Click Define.
   

   The Define button becomes an Update button once you have defined the validation. Click Update to edit the validation test logic.

   
   

8. Repeat this process to set up additional validations.
9. In the Release Logic Section, click Define to display the Logic builder
10. Use the Logic Builder to define your release criteria. When you have completed, click Save and Close to return to the Fields & Validations page.
    You see the newly defined criteria displayed in the space under Release Logic.
11. Click Save & Close.
     The system creates the new price validation and adds a row in the Price Validation workspace.