Guideline 2012/689/EU Article 1: Definitions

Article 1 - Definitions

Article 1

Definitions

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For the purpose of this Guideline:

((1))

‘CSDB’ means the Centralised Securities Database set up by the ESCB and located at the ECB’s premises;

((2))

‘input data’ means any data provided to the CSDB from one or more data sources;

((3))

‘output data’ means data that is automatically derived in the CSDB by compounding input data into a complete, high quality single record;

((4))

‘output feed data’ means the subset of output data and characteristics listed in Annex II that serve as a data input to support the production of statistics or other uses;

((5))

‘Data Quality Management’ or ‘DQM’ means ensuring, verifying and maintaining the quality of output feed data through the use and application of DQM targets, DQM metrics, DQM thresholds and the DQM workflow;

((6))

‘Data Source Management’ or ‘DSM’ means identifying and correcting directly with a data provider repetitive and/or structural mistakes in input data;

((7))

‘initial DQM’ means DQM of output feed data, including data covering the most recent time period, carried out by DQM competent authorities on a monthly basis taking into account the output feed data provided by the end-month preview;

((8))

‘regular DQM’ means DQM of output feed data carried out by DQM competent authorities on a monthly basis taking into account non-CSDB benchmark data provided by various data sources with a view to ensuring that CSDB output data quality satisfies the requirements for CSDB feed data;

((9))

‘DQM target’ means a benchmark for assessing the quality of output feed data, as specified in Annex I;

((10))

‘DQM metric’ means a statistical indicator measuring the level to which a certain DQM target has been reached, as specified in Annex I;

((11))

‘DQM threshold’ means the minimum level of verification work to be conducted in order to satisfy the requirements of the DQM framework for a DQM target;

((12))

‘DQM workflow’ means a technical process applied for the correction of input data in order to comply with a DQM threshold;

((13))

‘end-month preview’ means a regular monthly update of output data and of DQM metrics which produces an approximation of output data for the forthcoming end-month status;

((14))

‘working day’ is a complete day on which TARGET2 is open, as published on the ECB’s website;

((15))

‘verification’ means the process whereby DQM competent authorities check CSDB output feed data and, if necessary, correct CSDB input data, hereby applying the DQM workflow;

((16))

‘resident’ has the meaning defined in Article 1 of Regulation (EC) No 2533/98.