Set Up Benchmark Validations

Reference Data Center enables you to validate and release securities containing partial data points. These benchmark validations can be flagged to be applied when the creation and or maintenance of a security has an incomplete data set.

There are times when there is a need to set up at the minimum elements of a security, release the security, but not have all the false noise of exceptions.  An example of this is a constituent, or underlying for an index to hold information for performance purposes, such as a weight and relative market value.  There is no need to have a fully constructed security with all the data points that would be needed when full accounting on the security is required.

For example, when loading an equity security, certain key attributes that must always be present for Eagle to construct the security such as primary asset ID, primary asset ID type, or asset currency.  However, the region may be configured to provide a warning that an issuer is missing, or that the stock exchange is a critical exception if it is not provided.  The region may also include client specified validations on UDF and additional mapped Bloomberg mnemonics that are required for data that comes from Bloomberg. These failures would return exceptions. Without the option of a benchmark validation, these “skeleton” securities would fail multiple validations in the compositing process, and if there was a critical exception, the security will not be released.

Before You Begin 

You need to enable the Apply this Validation for Benchmark Securities option on the Validation Define page for any validations to be applied for Benchmark /Not Held securities. This option is enabled for core validations ES0000009, ES0000010, ES0000015, ES0000016, ES0000019 and ES0000023.

Core Benchmark Validations 

The table below describes the core benchmark validations.

The list of applicable benchmark validations can be extended to include specific validations that are to be applied when compositing the security data. For example, there is a reporting requirement to be able to show exposure by issuer.  In this case, event skeleton securities must have the issuer included in the composited security.  If not present, then the system returns a warning to raise attention.

To include this validation in the benchmark enable set:

1. In Reference Data Center, in the left navigation, click Setup > Validations.
   You see the Validation workspace.

2. From the list that displays, select the validation that you want to apply the validation to.

3. Right click and then select Edit.
   You see the Edit Validation wizard. The Define page is highlighted.

4. Click the Apply this validation for Benchmark Securities checkbox.

5. Click Save & Close.
   In the refreshed workspace you see that this validation is now enabled for benchmark validation, indicated by a green check mark in the Benchmark column.

Set Up Data Strategies for Benchmark Validation

The data strategies that composite investment types where skeleton securities are required must have the Validation Process field group added to them.
Once you link this field group to the data strategy, the system enables the user interface option and recognizes the flag on incoming data files.

To include this field group in a data strategy:

1. In Reference Data Center, in the left navigation, click Setup > Field Group.
   You see the Field Group workspace.

2. From the list that displays, select the Validation Process field group.

3. Right click and then select Edit.
   You see the Edit Validation wizard.

4. Click on the Data Strategy wizard.

5. In the Select Data Strategies, use the Advanced Search to locate the data strategy that the field group is to linked to.

6. Click OK.

7. Click Save & Close.

File Interface Configuration

You can load data using either CSV or EagleML formats and including the necessary flags.

CSV Format

EagleML Format