Set Up Price Source Hierarchy Rules
You can set up source hierarchy rules in RDC Prices. Hierarchy rules define where prices will be requested and the order of precedence for use in calculating a best price. Price source hierarchy rules are created in the Sources workspace and can be used in multiple data strategies. Therefore, if a source hierarchy rule is changed, it will affect all data strategies for which it is associated.
To set up source hierarchy rules:
In the Setup workspace, in the left navigation pane, select Metadata>Sources.Â
You see the Sources workspace.Under Views, click Source Rules.
On the ribbon, click Create New and then select Source Rules from the drop-down list.
You see the Create New Source Rule dialog box.Enter a name for the source rule by clicking on the Name text box, and then entering a name for the rule.
You can click the Description box and enter a description for the rule.
Under the Select Data Types and Define Hierarchy section, in the Feed Types column, select Vendor Price.
In the Hierarchy column, click Add Source and then select the sources you want to use in your hierarchy.
Under Vendor Price Source Details, click Add.
You see the Add Vendor Source Details dialog box.
NOTE: The list displays Sources that were configured with a Feed Type of PH.The Vendor Hierarchy defaults to 1 but once you create additional rows, you can edit the hierarchy by clicking in the text box and entering a new value.
In the Source field, select the sources you want to use in the hierarchy row.
Select the Field from the drop-down list. The field that is linked to the hierarchy rule is the field in the vendor table that will be populated by the defined source hierarchy rule. The values displayed in the Field are the Field Attributes already established in About Pricing Type Field Attributes
In the Date Rule field, select the date rule that works for your business cases. The date rule defines the day for which vendor prices will be provided.
Select the Exchange you want to price your securities. There is an option <primary exchange> that defaults to the exchange code of the security master record.
In the Price Level field, enter a Price level. The value entered for Price levels must correspond with the FAS 157 price level standards and definitions and is recommended to be populated, but is not required.
Optionally, enter any comments in the Comments field.
Repeat these steps to set up additional vendor source details and then click Save.
Each Vendor Price Source selected must have a field associated with it in order to Save the rule. A Vendor may be setup with more than one Field (e.g. Ask, Bid).
The system confirms that the newly created source rule has been created.Click Ok to close the confirmation message box.
The system creates the new source rule and adds a row to the Source Rules tab of the Sources workspace.