Level of policy in the organization

Regardless of the size of the organization, it is recommended that it develop and
implements a written price testing policy. A policy, if written at a high enough
level, is flexible for local challenges and eliminates the need for multiple policy
developments. This is more challenging the larger and the more global an organization
becomes.
The purpose is to impose consistency across trading desks and products that
have separate challenges. The policies will foster consistency to the approach and
considerations made while developing procedures and the level of documentation
maintained.
In large organizations that are typically product aligned, such a policy provides
consistency across product lines and locations. This supports both business line
and regional reporting requirements. In smaller organizations, or those with fewer
diverse product offerings, the policy should be able to address products without
additional revision.