Rapptr Control Rules (Breaches)
Breaches in Rapptr occur when the Rapptr Control Rules are triggered. The control rules trigger a single breach when assets are missing specific key properties. We have created these rules to keep track of assets where it might be difficult to provide accurate data, as well as to make sure that Rapptr does not trigger a swarm of Unknown Alerts, as the users are aware that it is not possible to provide the data. In this way, one Breach Error replaces a number of Unknown Errors.
How the Control Rules Work
Rapptr has six Control Rules active, related to missing Country, Currency, ISIN, Issuer or Market properties. Below is an example of the Country specific rule.
As seen from the above, this rule will gather assets across issuers that have specific values for CountryOfIssue and CountryOfIncorporation. The values that will make the rule pick an asset up is either a BLANK or the value of ??.
If it is not possible to provide CountryOfIncorporation for security, setting the value to ??, will capture the security in this rule rather than generating a number of unknowns.
Similar to ??, the other Control Rules has a similar syntax, please see the below table for the correct values to use, whenever a property can not be provided.
|Missing Property||Suggested Defaults|
As with other Breach results, these Control Rules will result in a task generated in the task list and should be Verified or Rejected, depending on whether it is genuine or not. Choosing either Verify or Reject will remove it from the Task List and doing so is for your benefit in tracking the veracity of the breach. This choice is reversible and its primary purpose is to create a strong audit trail.
It should be noted that as soon as the result has been closed in, either way, Rapptr will not trigger a new task the time a file is uploaded, even if the Breach has not been resolved in the next upload. Rapptr will however keep track of how long the Breach has been triggering in the system, i.e. the number of days the Breach has triggered. This number can be viewed from the Results Screen, under the Days column.
Should anything still be unclear please feel free to send an email to firstname.lastname@example.org or give us a quick shout and we'll be more than happy to help.