The Price Verification Server offers the following benefits:

• There is a single consistent price or market data set for each instrument within a Price Zone across the business for the purposes of daily mark to market for daily P&L, market and credit risk reporting and customer valuations
• Market prices are captured simultaneously in all locations for a price zone, enabling consistent fair values of all positions within a Price Zone to be calculated
• Complete Price History and Audit Trails are maintained for the purposes of in-house and regulatory reporting
• The Approval and Verification functions enable a ‘four eyes’ approach with respect to the manual provision and override of prices
• PVS consists of a single application, utilising a single database, thereby reducing inter-application communication and hence processing times, and reducing the system support overheads
• The System Administration GUI enables reference data, user/role data, and instrument rules across Price Zones to be maintained with ease
• The design principles used ensure a high-performance, scalable and resilient application
• PVS utilises industry-standard technologies such as XML, Java and JMS, enabling ease of integration with other applications