Glossary
Every term between trade and settlement.
A trade that does not settle on its contractual settlement date because one party cannot deliver the required securities or cash, triggering penalties and buy-in procedures.
FINRA supervision technology is the software infrastructure broker-dealers use to implement, enforce, and document the supervisory controls required under FINRA Rules 3110 and 3120.
Open financial messaging standard where MsgType 8 Execution Reports trigger real-time trade capture and settlement pipeline processing for broker-dealers.
A settlement instruction that transfers an asset without a simultaneous payment leg, exposing the delivering party to principal risk until payment is separately confirmed.