Validation Tests

Absolute Comparison (ABSOLUTE)

Calculates the monetary difference between two securities’ prices. If the monetary difference exceeds a defined tolerance, the validation fails.

Absolute Comparison (PERCENTAGE)

Calculates the percentage difference between two securities’ prices.  If the percentage difference exceeds a defined tolerance, the validation fails.

Benchmark Target Validation

This validation first calculates the change in a vendor-supplied current day price to its previous price within a defined Gold Copy Source.  It then compares that change to a specified benchmark security’s price change. If the price movement of the security being validated differs more than the defined tolerance of the benchmark security’s change, the validation fails.

Benchmark Validation

Compares a security’s price percentage change from yesterday to today to a benchmark’s price percentage change from yesterday to today. If the difference exceeds a defined tolerance, the validation fails.

Compare Price Condition

Compares the Price Condition received from one vendor to the Price Condition received from another vendor, for the same security price. If different, the validation fails. 

Compare to Set Value

Compares a calculated algebraic value to a set value.

Compare to Target (ABSOLUTE)

Calculates the monetary difference between a vendor’s price and the prior day Gold Copy Source price. If the monetary difference exceeds a defined tolerance, the validation fails.

Compare to Target (PERCENTAGE)

Calculates the percentage difference between a vendor’s price and the prior day Gold Copy Source price.  If the percentage difference exceeds a defined tolerance, the validation fails.

Compare to Underlying (ABSOLUTE)

Compares a security’s absolute price change to underlying security’s absolute price change. If the fixed amount monetary difference exceeds a defined tolerance, the validation fails.

Compare to Underlying (PERCENTAGE)

Compares the percentage change in a security’s price to the percentage change in an underlying security’s price.  If the percentage change exceeds a defined tolerance, the validation fails.

Comparison (ABSOLUTE)

Compares the monetary price difference of two securities’ prices and allows for different upper & lower tolerances. If the difference exceeds the defined tolerances, the validation fails.

Comparison (PERCENTAGE)

Compares the percentage price difference of two securities’ prices and allows for different upper & lower tolerances. If the difference exceeds either tolerance, the validation fails.

Days Unchanged

Compares the number of days a price hasn’t change to a specified value.  If the number of days unchanged exceeds the defined value, the validation fails.

Fund Impact Test

Calculates securities’ day-over-day price percentage change, and estimates how much each security will impact the entity’s market value.

Manual Price Override

Confirms a Vendor Source manual price override has occurred.  If a manual override has occurred, the validation fails.

Market Days Stale

Counts the difference in the number of days between the date a vendor associates a price, and the date the vendor supplies that price. For example, if a vendor sends a security price on a Monday, but the security did not actually trade since Friday, the vendor may indicate Friday as the market date. Market Days Stale is the difference between Monday and Friday, excluding Saturday and Sunday. In this example, the price would be flagged one day stale.

Price Condition

Compares the Price Condition received from a vendor to a defined value.  If the Price Condition value is the same as the defined value, the validation fails.

Vendor Tolerance Compare

Compares the percentage difference of one vendor’s security price change with another vendor’s security price change.  If the difference exceeds the defined tolerance, the validation fails.