Collected price data is verified by executing a series of business verification rules.

Verification rules may be defined for any instruments within a given Price Zone. These verification rules may be defined for specific instruments or for a group or series of instruments. For example, a simple verification rule might be that the bid and ask prices are numeric and are not null, a more complex verification rule might be that the prices collected from more than one data source for a given instrument are within a specific tolerance.

Instruments for which collected data fails one or more verification rule, or for which collected data cannot be obtained, are routed via the exception management (workflow) module to the appropriate user(s).

The verification rule definitions for each instrument are configured and maintained within the PVS System Administration GUI. These verification rules are parameterised at the asset hierarchy and/or instrument level. A single instrument may have any number of verification rules applied to it.