About Price Validation Rules
- Kinga Huszno
Validations are user-defined rules designed to test the integrity of data values. Validations consist of two parts: an error message and the validation rule. After vendor prices are demanded and received, they are loaded into Eagle’s database. Consider the following regarding Price Validation Rules:
Validation rules, which are defined by security criteria and price types, validate prices received from vendors.
Any combination of the customizable user-defined validations (tests) can be used in a validation rule. Each validation returns a validation edit (condition).
User-defined release logic combines all individual validation edits within a validation rule to yield a best of breed price, which is then used to select the single best Gold Copy Source price.
If a price does not pass its validations, you can review, modify, and update it in RDC Prices. An automatic resubmission of validation rules and price calculations takes place after data has been scrubbed.
Validation types are associated with validation names stored in the IPCVALIDNAME code table, which allows you to rename the validations based on your requirements. For example, you may want to refer to Days Unchanged as a Stale Price validation.
The following table lists RDC Price Validations.
Validation Name | Validation Description |
|---|---|
Comparison (absolute) | Comparison validation using absolute value |
Comparison (percentage) | Comparison validation using percentage value |
Price Condition | Validation using price condition |
Benchmark Validation | Comparison to benchmark |
Days Unchanged | Days unchanged validation |
Compare Price Condition | Comparison validation using price condition |
Absolute Comparison (absolute) | Absolute comparison validation using absolute value |
Absolute Comparison (percentage) | Absolute comparison validation using percentage value |
Compare to Underlying (absolute) | Comparison to underlying validation using absolute value |
Compare to Underlying (percentage) | Comparison to underlying validation using percentage value |
Compare to Target (percentage) | Comparison to target using percentage value |
Vendor Tolerance Compare | Vendor tolerance comparison |
Compare to Target (absolute) | Comparison to target using absolute value |
Manual Price Override | Manual price entry or price override validation |
Market Days Stale | Market days stale validation |
Compare to Set Value | Comparison to set value |
Fund Impact Test | Fund impact test |
Benchmark Target Validation | Comparison of security day over day change to benchmark change |
Confidence Level Validation | Validation against the confidence level for fair price value |
Price Score Validation | Validation against one of the confidence level, ask score, bid score or mid score. You need to select a single option between the confidence level, ask score, bid score or mid score. |
Active / Delisted Flag | Validation using active/delisted flag |
Holiday Flag | Validation using holiday flag |
Market Status | Validation using market status |
Price Currency | Validation using price currency |
FII Limit Value | Validation using FII limit value |
FII Limit Comparison Percentage | Validation using FII limit comparison percentage |