Glossary

SEC Rule 15c3-1 net capital calculation is the controlled workflow a broker-dealer uses to convert books, positions, receivables, liabilities, deductions, and haircuts into a regulatory capital result.

An SEC Rule 606 reporting workflow turns order-routing, venue, rebate, fee, and payment-for-order-flow records into reviewed public quarterly disclosures and customer-specific reports with retained evidence.

Technology layer that processes securities trades after execution — capture, enrichment, matching, settlement, and compliance monitoring — replacing batch-era systems with event-driven workflows for T+1 and hybrid-rail environments.

ISIN and CUSIP are the alphanumeric codes that uniquely identify financial instruments — referenced in almost every trade capture, matching, settlement instruction, and regulatory report.

The operational workflow that sources, manages, and recalls loaned securities — underpinning short selling and collateral financing through regulated locate and borrow processes governed by Regulation SHO Rule 203.

The two-leg settlement lifecycle of a securities loan — FoP delivery of loaned securities, daily mark-to-market margining, and sese.034 recall return — managed as a continuous operational process across the relevant settlement infrastructure.

The operational discipline of maintaining a firm's golden copy — the single authoritative securities reference record kept current through daily vendor scrubbing, conflict resolution, and event-driven lifecycle enrichment.

Shared post-trade infrastructure that runs trade capture, enrichment, settlement, reconciliation, and compliance on a common primitive core — decoupling ops headcount from trade volume through platform-scale automation.

The end-to-end sequence from trade execution through clearing, affirmation, and DvP settlement — seven operational stages that must complete within the T+1 regulatory window.