Glossary
Every term between trade and settlement.
The irrevocable transfer of legal ownership in a securities transaction — achieved through deterministic, conditional, or probabilistic finality depending on the settlement rail.
Automatically generating and transmitting settlement instructions to custodians and CSDs using pre-loaded SSI data — replacing manual entry, enabling STP, and making T+1 compliance operationally viable.
The deployment of regulated, reserve-backed stablecoins as the continuous wholesale cash settlement layer for institutional capital markets — enabling 24/7 Delivery-versus-Payment and Payment-versus-Payment workflows.
The three-control-point AML framework for broker-dealer stablecoin operations — pre-broadcast screening, attributed value transfer via IVMS101, and post-settlement change-of-risk monitoring — built on the principle of attributed transparency.
The NIST Interagency Report defining the federal technical taxonomy of stablecoin architectures — classifying reserve mechanisms, smart contract properties, and security vulnerabilities.
The mechanics by which stablecoin peg pressure and money market fund redemption shocks propagate into systemic stress — compared across reserve structure, run trigger, and regulatory response.
The use of regulated payment stablecoins as the cash leg in DvP securities settlement, enabling near-real-time finality on a 24/7/365 basis beyond Fedwire and CHIPS operating hours.
Pre-agreed instructions specifying how a counterparty's securities and cash should be delivered or received, applied automatically to every qualifying trade.
End-to-end automation of the post-trade lifecycle from execution to DvP settlement, with STP rate as the primary compliance KPI under T+1.