Both the Platform and REST API have a sophisticated logic layer to check the validity and syntax of the supported coverage securities. This step is critical during upload, manual entry or API calls. An error will occur when any of the following happens:
Example of a bond that has matured. Status is error.
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Generic Rules for Fixed Income - applicable to: CORPORATE BONDS, GOVERNMENT BONDS, TERM LOANS, CONVERTIBLES, EXCHANGEABLES, CDS, INTEREST RATE SWAPS:
- Constant maturity treasuries not available/updated in the database.
- Underlying FX without enough historical data for non-US securities
- Maturity that is in the past (*)
- Coupon that is negative
- Price that is negative
Specialized Rule 1 - applicable to: CORPORATE BONDS, TERM LOANS, CONVERTIBLES, EXCHANGEABLES and CDS:
- Generic Rules plus
- Underlying ticker for issuing company without enough historical data (see data logic)
- Underlying ticker for issuing company without a recognized/supported MIC (exchange) code for non-US securities.
- Issuing company lacking some balance sheet data. Everysk uses a firm value model to calculate the distance to default. Our formulation requires total debt and shares outstanding among other data
Specialized Rule 2 - applicable to: CDS and INTEREST RATE SWAPS
- Generic Rules plus
- Quantity that is negative. A CDS and swaps require a positive quantity always. A short position is achieved by the syntax: a P represents a payer swap (short credit and short rates) whereas a R represents a receiver swap (long credit and long rates)
Specialized Rule 3 - applicable to: GOVERNMENT BONDS AND INTEREST RATE SWAPS
- Generic Rules plus
- A code for issuing country that is not a recognized ISO 3166-1 Alpha-2 code. For example: GOV:US 20201002 2.5 98 is valid whereas GOV:ZY 20201002 2.5 98 is not
Specialized Rule 4 - applicable to: EXCHANGEABLES
- Generic Rules plus
- Exchangeable ticker without enough historical data (see data logic)
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Generic Rules Options - applicable to: EQUITY, INDEX, FUTURE and FX OPTIONS:
- Underlying ticker for issuing company without enough historical data (see data logic)
- Underlying ticker for issuing company without a recognized/supported MIC (exchange) code for non-US securities.
- Underlying FX without enough historical data for non-US securities
- Expiration that is in the past (*)
- Strike that is negative
- Premium that is negative
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Generic Rules FX - applicable to: FX FORWARD and FX OPTIONS:
- A 2 currency pair, whereby the code for each currency that is not a recognized ISO 4217 code. For example: BRLEUR is a valid code whereas BRLXYZ is not
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Generic Rules Equities - applicable to: GLOBAL EQUITIES, ETFs and MUTUAL FUNDS:
- Underlying ticker for issuing company without enough historical data (see data logic)
- Underlying ticker for issuing company without a recognized/supported MIC (exchange) code for non-US securities.
- Underlying FX without enough historical data for non-US securities
(*) In reference to portfolio date. Because portfolios can be uploaded at a historical date, a maturity can be historical and still valid. For example: IBM 20161202 C155 2 is valid for a portfolio dated 20160602, but not valid for a portfolio with 20170701 date.