Glossary
Every term between trade and settlement.
The point at which an on-chain transaction becomes irrevocable — a property of the consensus mechanism rather than a declaration by any central infrastructure operator.
The irrevocable transfer of legal ownership in a securities transaction — achieved through deterministic, conditional, or probabilistic finality depending on the settlement rail.
Pre-agreed instructions specifying how a counterparty's securities and cash should be delivered or received, applied automatically to every qualifying trade.
The authoritative single source of truth for a firm's positions, trades, and accounts — the system of record that all other systems, reports, and compliance functions derive from.