Glossary

A tokenization instruction authorises the controlled conversion of an eligible source position into a defined tokenized representation and destination state.

The operational sequence from issuance structuring through smart contract deployment, DvP settlement, coupon servicing, and maturity redemption — replacing CSD book entries with ledger state transitions.

Repurchase agreements using tokenized securities as collateral, settled on distributed ledger infrastructure for atomic DvP and intraday availability.

Tokenized money market fund settlement replaces T+1 transfer agent processing with atomic on-chain USDC redemption, giving institutions 24/7 instant liquidity access from yield-bearing fund positions.

The middle-office operating model for on-chain money market fund positions — covering subscription and redemption workflows, rebasing vs accumulating yield treatment, NAV oracle monitoring, and whitelist lifecycle management.

Tokenized securities interoperability connects tokenized positions with the accounts, records, controls, and lifecycle workflows required to operate them across rails.

A tokenized security is a security whose ownership, transfer, or representation uses distributed ledger technology. The legal right depends on the issuer, custody structure, and authoritative record, not on the token alone.

A tokenized security entitlement represents an indirect interest in a financial asset held through a securities intermediary. Its operating model connects custody positions, securities accounts, wallet controls, and authoritative records.

Tokenized security rights and entitlements define the distributions, votes, transfers, elections, disclosures, and servicing a verified holder may receive or direct.