EDITOR is a web application developed by European DataWarehouse (EDW) for the seamless analysis and upload of structured data for underlying assets and transaction-level information in compliance with the Securitisation Regulation (EU) 2017/2402.
It allows reporting entities to pre-screen and analyse loan-level data (LLD) files and upload them directly to its Securitisation Repository Platform, registered under the European Securities and Markets Authority (ESMA).

As a pre-screening tool for ESMA template submissions, EDITOR contains close to 3,000 rules and checks that allow for a quick overview of the potential inconsistencies in the submitted LLD files.

EDITOR’s data quality improvement process includes both mandatory checks as defined by ESMA, as well as optional ESMA and EDW checks aimed at increasing the quality and usability of the submitted data. They can be summarised as follows:

• Schema checks: verification of file structure and of the format of the data submitted
• ESMA validation rules: rules that lead to a submission rejection if not validated
• ESMA additional rules: additional rules that need to be executed by the securitisation repository but do not lead to a submission rejection
• Data Quality Plus: rules developed by EDW to improve the quality of ESMA submissions
• Data Quality Score: a subset of Data Quality Plus rules used to calculate the EDW ”DQS” score (formerly DQS1)

Results for each ESMA validation rule are displayed in a “Pass/Fail” logic with only the number of loans failing a particular data quality check being shown. Submissions failing any of the ESMA validation rules will be entirely rejected.

Results of the other rules do not lead to a submission rejection but are indications of potential data quality issues that need to be further investigated.