Each instrument to be priced may have any number of data sources. Data sources may be external market data feeds, in-house spreadsheets, in-house applications, or may be provided manually via the PVS Core System GUI.

The pricing life-cycle is typically run at the end of each day for each Price Zone. However the system can be configured to run multiple cycles per day per Price Zone as required. Prices may be collected as frequently as the data sources allow.

Collected price data are verified by executing a series of business rules. These rules are parameterised within the PVS System Administration GUI at the asset hierarchy and/or instrument level.

Prices that fail one or more verification rule are routed via workflow to the appropriate user(s). For each exception, these users can accept a collected price or manually provide a price. Manually provided prices may then be routed via workflow for approval by another user, where required.

An audit log is maintained for each instrument for each Price Zone for the purposes of accountability and regulatory reporting.

Instrument reference data and user reference data is maintained by the PVS System Administration GUI.