Step,Type,Description,Depends On
Fetch market data,DATA_SOURCE,Pull spot rates the vol surface and discount curves from Bloomberg,
Validate inputs,VALIDATION,Check MiFID II eligibility and that every pricing input is complete,Fetch market data
Price the option,PRICING,Run the Black-Scholes model over the validated inputs,Validate inputs
Calculate risk,RISK_CALCULATION,Compute VaR and the option Greeks for the position,Price the option
Within desk limit?,DECISION,Branch on whether the VaR breaches the desk limit,Calculate risk
Senior sign-off,HUMAN_IN_LOOP,A risk officer approves any limit breach before release,Within desk limit?
Publish the quote,OUTPUT,Return the approved price and risk to the caller,Senior sign-off