Glossary
Every term between trade and settlement.
The 2025 federal law establishing the statutory framework for payment stablecoins — defining issuer tiers, 1:1 HQLA reserve requirements, CEO/CFO certification, and insolvency super-priority for token holders.
Golden source reference data is the approved version of an instrument, entity, market, calendar, SSI, or price fact after sources conflict, a winner is chosen, and downstream systems are allowed to use that version at a stated as-of.