Glossary

Software that turns institutional trades, positions, cash, accruals, corporate actions, tax lots, reconciliations, and close controls into accounting-ready investment records.

The IBOR — a real-time position record used by investment managers, capturing unsettled trades, accruals, and corporate actions ahead of custodian confirmation and ABOR settlement.

Investment fund middle office is the operating layer that turns executions, allocations, positions, cash, collateral, corporate actions, and exceptions into controlled records for settlement, accounting, oversight, and reporting.

OTC digital asset derivatives documented under ISDA frameworks, covering confirmations, price sources, margin, collateral, close-out netting, and lifecycle controls.

International financial messaging standard where sese.023 settlement instructions and sese.025 confirmations replace legacy SWIFT MT54x messages, enabling richer settlement data, STP, and interoperability across global custodians and CSDs.

ISO 20022 sese.023 is the securities settlement transaction instruction message used to instruct delivery or receipt of securities through a custodian, CSD, ICSD, or account servicer.

ISO 20022 sese.025 is the securities settlement transaction confirmation message used to confirm that a settlement event has completed through an account servicer, custodian, CSD, or ICSD.

Issuer-sponsored tokenization links a tokenized security to the issuer's own recordkeeping architecture. Third-party tokenization may instead create an intermediary entitlement or a separate contractual claim.

LedgerScan monitors token movements and registered wallets, connecting onchain activity to DTC's stated tokenized-entitlement records and reconciliation controls.