Validation
Validation
OpenDataDSL launches Validation: automatic checks on every curve and timeseries, a record for every data point, and automations that only send on data you can trustCheck every curve and timeseries as it arrives, keep a record of what was checked and what happened next, and stop bad data before it reaches your models, reports and customers.
OpenDataDSL today announces Validation, a new extension that checks every curve and timeseries on the platform automatically, records the result for every data point, and lets teams review, fix or override failures in one place.
The problem Validation solves
Bad market data looks like any other update: a price a hundred times too big, a tenor missing from a forward curve, a curve that did not change because the source did not update. By the time someone notices, it has already been used in a valuation, a risk report or a customer price. The checks that do exist are spread across spreadsheets and scripts, and leave no record of what was checked or why a problem was let through.
How it works
Each curve or timeseries gets a set of checks, written in ODSL, from a library of 19 ready-made checks or from your own scripts:
- Value checks: missing, zero or negative values, a range, the change from the previous value, outliers against recent history, and stale values.
- Curve checks: gaps between delivery periods, required tenors, the number of contracts, tenors dropped from the previous curve, and quarters that do not match their months.
- Your own checks: any ODSL expression or function.
Checks run automatically whenever the data is saved, and whenever a smart, event or composed curve or timeseries is rebuilt. Every curve ondate and every observation gets a validation record with the result of each check and a timeline of what happened.
Built for everyday use
- Dashboard and issues: pass rates, open issues, warnings and overrides at a glance, and every failing data point in one list to override with a reason, comment on, or run again.
- Checks suggested from your data: select many curves or timeseries, and Validation reads their last 30 days, suggests checks with limits that fit, and tries them on that history before you save them.
- Adjust checks: when a limit is a little too tight, Validation finds the smallest change that lets the data pass, and shows how many failures it would have avoided over the last 30 days.
- Versions and history: every change to a configuration is kept, with who made it and what changed, and any version can be restored.
- Only validated data downstream: automations can send a curve or timeseries on only when it passes validation, or its failure is overridden, and email the team as soon as data fails.
- Insights: reports by data item, by check, by day, and of every configuration and automation.
Availability
Validation is available now as an extension for OpenDataDSL customers. Find out more on the Validation page, or read the Validation documentation.
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