Glossary
Every term between trade and settlement.
The daily process of comparing the forward-looking investment book of record (IBOR) against the custodian-confirmed accounting book of record (ABOR) to identify and resolve position differences arising from the settlement cycle.
Institutional asset tokenization creates programmable digital representations of regulated financial assets — enabling faster settlement, lower issuance cost, collateral mobility, and automated lifecycle servicing.
The authoritative golden record of reference data — identifiers, static attributes, and lifecycle parameters — for every instrument a firm can trade, settle, or report.
The IBOR — a real-time position record used by investment managers, capturing unsettled trades, accruals, and corporate actions ahead of custodian confirmation and ABOR settlement.
International financial messaging standard where sese.023 settlement instructions and sese.025 confirmations replace legacy SWIFT MT54x messages, enabling richer settlement data, STP, and interoperability across global custodians and CSDs.