Glossary
Every term between trade and settlement.
Comparing a firm's nostro ledger against correspondent bank statements — closing fee, FX, and value date breaks before they become T+1 settlement funding failures.
The ops workflow for classifying, aging, and resolving nostro breaks — from break identification and SWIFT query through wash account entry and escalation.
DTCC's central counterparty that novates equity trades, nets obligations multilaterally by CUSIP, and carries unsettled positions until DvP finality at DTC.