First Define the Purpose of the "Reference Price" Service

Client displays, internal research, valuation assistance, and executable quote risk requirements vary. Before establishing the process, it should be clear whether the reference price is used solely for information display or will enter business processes with higher governance requirements. A "price" with the same name should not assume undefined purposes.

Identifying Product Versions is More Important than Choosing a Single Source

The same traditional underlying may correspond to multiple issuers, product structures, and trading venue versions. Before establishing a reference price, it is essential to confirm the issuer, product type, trading venue, quote currency, price type, and data timestamp. Transaction activity and depth can provide context but cannot replace the institution's own judgment on product and data permissions.

Establish Auditable Time and Method Records

It is recommended to separately record the data time, capture time, calculation time, and applicable window; while also retaining the sources used, fields, calculation methods, and exception handling. Times do not need to be artificially compressed to the same second, but the meaning of each time must be clear.

Incorporate Exception Handling into the System

Unavailability of sources, changes in product terms, anomalous quotes, or data omissions can occur. The process should set up review and escalation mechanisms, and check methods when significant changes are triggered, rather than relying solely on fixed annual reviews.

Conclusion

For further exploration of the structured data and market information of tokenized assets, please visit RootData: https://www.rootdata.com/tokenized-assets

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