No market data set ID entered in hedging area &1

What causes this issue?

No market data set ID has been entered in hedging area &V1&. However,
in the hedging profile, the effectiveness test is defined as optional or
mandatory.

System Response

It is not possible to create a hedging relationship.

How to fix this error?

Enter a market data set in the corresponding hedging area.

Procedure for System Administrators

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

Error message extract from SAP system. Copyright SAP SE.