Manage Price Validation Rules
Validations are quality checks that can be applied to pricing data to assist with determining the accuracy of the data. Reference 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.
Access the Price Validation Wizard
To display the price validation wizard:
In the Setup workspace, in the left navigation pane, click Validations.
You see the Validations workspace with Validation page displayed.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:
In the ID box, the system assigns a value systematically, but you can override this value and enter your own unique identifier.
In the Name box, enter a name for the field group.
You can click the Description box and enter a description of the field group.
In the Processing Method field, click the check box if you want to Process this validation rule for all data strategies that have global processing selected.
NOTE: If checked, the validation rule applies to price data from data strategies leveraging global validation rules. If unchecked, the validation rule applies to data strategies that specifically assigned the validation rule to the data strategy defined in the user interface as Regular. Global Rules will be executed when a data strategy has its validations as global. Regular or local validations will only execute for those data strategies where they are explicitly associated in the data strategy validation definition. Create a Data StrategyClick the Enabled check box to activate the validation.
Data to Validate defaults to Vendor Data.
Click Next.
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:
In the Security Criteria field, click Define to display the Logic builder.
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.
Click Next.
You see the Fields & Validations Page.
Define 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.
In the Fields section, select a Field from the drop-down list.
Select a Source from the drop-down list.
Select an Exchange from the drop-down list.
This creates the record.In the Validations test section, select a Name from the drop-down list to identify the validation test. Validation Tests.
Select a Validation Type from the drop-down list.
In the Error field, select either Error Code or Error Description from the drop-down list and then enter the corresponding code or description.Â
Click Define. Repeat this process to set up additional validations.
NOTE:Â The Define button becomes an Update button once you have defined the validation. Click Update to edit the validation test logic.In the Release Logic Section, click Define to display the Logic builder
Use the Logic Builder to define your release criteria. Use the Validate button located in the Toolbar to confirm the setup is correct. 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.
If entering additional field types and you want to apply a similar validation, you may select one of the existing records, right click and Copy Validation Tests & Release Logic. Once copied, move to the active row to apply the test and release logic, right click and apply the Paste Validation Test & Release Logic.
Click Save & Close.
 The system creates the new price validation and adds a row in the Price Validation workspace.