Glossary
Every term between trade and settlement.
Real-time reconciliation software for T+1 broker-dealers — streaming FIX and camt.052 data, classifying breaks at detection, and maintaining the WORM-compliant audit trail required by SEC Rules 17a-3 and 17a-4.
Trade surveillance is the automated monitoring systems broker-dealers use to detect manipulative trading patterns, insider trading indicators, and behavioral anomalies across proprietary, market-making, and customer order trading activity.
Wholesale CBDC settlement gives regulated institutions a central bank money cash leg for DLT-based securities transactions — the highest standard of payment finality recognized under PFMI Principle 9.
The compliance policies a broker-dealer must establish, maintain, and enforce under FINRA Rule 3110 to supervise all business lines and associated persons.