Glossary

The exception workflow for identifying, classifying, and resolving post-trade discrepancies before they breach the T+1 affirmation cutoff or trigger CSDR cash penalties.

The process of resolving data mismatches between trade counterparties before settlement cutoffs to prevent settlement fails.

The system that books an executed trade into the firm's official records and initiates the post-trade processing workflow from enrichment and matching through to settlement instruction.

The automated comparison of trade details between counterparties to verify both sides recorded the same economics before settlement instructions are generated.

Trade date is when a trade executes and terms are locked; settlement date is when securities and cash change hands and legal ownership transfers — one business day apart under T+1.

The automated augmentation of a raw trade capture with settlement instructions, counterparty identifiers, and regulatory fields required for clearing and settlement.

The discipline of tracking a securities trade through every stage — from order and execution to settlement and position update — with exceptions detected at each handoff.

Bilateral comparison of independently submitted trade records that either confirms settlement-readiness or surfaces the field-level mismatch producing a trade break.

The systematic comparison of internal trade and position records against external sources to identify breaks and resolve them before they become settlement failures.