What Validation Controls does KOR Implement?

KOR's Pre-validator gives you the confidence that your reporting activity is fully compliant.

Validation Checks: Implement validation checks to ensure that reported data adheres to regulatory requirements and formatting standards. These checks can help identify errors or inconsistencies before submission to the TR.

1. 1. Field Level Validations: KOR offers field level validations that adhere to published regulatory requirements. These validations ensure that each message submitted meets the regulatory standards set forth by governing bodies. In instances where a message does not meet these standards, KOR rejects the submission and provides detailed feedback to the client in real time.
      1. See KOR's tech spec for detailed field level validations. 
   2. Timeliness Checks: KOR Offers a calculated timeliness value that indicates how much time is left to report, or if a trade is overdue. This can be utilized to monitor compliance on an ongoing basis. 

Sample process to monitor validations: 

1. Understand Validation Rules: See KOR's Tech spec to analyze and understand field level validation rules. 

2. Submit Data: Send your submissions to the KOR pre-validator.

3. Check Status: Periodically query the pre-validator's API endpoint with your submission IDs to see if there are any rejections.

4. Handle Rejections: If rejections are detected, review the reasons provided by the pre-validator. 

   1. Resubmit: You can resubmit corrected submissions from the source system
   2. Rule update: If the rejection is due to an out of date mapping, update the rule and reprocess the submission.