Glossary

Hedge fund OMS reconciliation compares the fund's internal OMS and operating records against prime broker, custodian, administrator, cash, financing, fee, position, and accounting records.

Human-in-the-loop trade execution is a controlled workflow where software can draft, enrich, validate, or prepare an order, but a human approval state is required before release.

Hybrid market infrastructure connects traditional and tokenized market rails through shared data, controlled lifecycle workflows, reconciliation, and accountable records.

Operational architecture running T+1 securities and T+0 digital blockchain settlement in parallel, unified by orchestration and reconciliation.

An IBOR solution maintains the investment book of record: a timely operating view of positions, cash, trades, exposures, projected activity, reconciliation status, and evidence for portfolio and operations teams.

The daily process of comparing the forward-looking investment book of record (IBOR) against the custodian-confirmed accounting book of record (ABOR) to identify and resolve position differences arising from the settlement cycle.

Institutional asset tokenization creates programmable digital representations of regulated financial assets — enabling faster settlement, lower issuance cost, collateral mobility, and automated lifecycle servicing.

The authoritative golden record of reference data — identifiers, static attributes, and lifecycle parameters — for every instrument a firm can trade, settle, or report.

Instrument master data quality is the control on whether an instrument record may be used: identifiers, terms, classification, and settlement attributes are complete, consistent, timely, and evidenced before post-trade consumes them.