Glossary
Every term between trade and settlement.
The governed reference layer for CSD identity, market coverage, participants, settlement calendars, eligible securities, notices, and source evidence.
The daily comparison of a firm's internal position records against the custodian's statement of holdings, identifying breaks for investigation and regulatory documentation.
A settlement mechanism (DvP) that links the transfer of securities to the simultaneous transfer of payment, ensuring neither leg completes without the other.
The requirement for broker-dealers to apply Rules 17a-3 and 17a-4 to digital asset securities, linking on-chain transaction data to the account-level records regulators require.
A globally unique identifier under ISO 24165 that fingerprints a digital token by blockchain network, smart contract address, and genesis parameters.
The ops function that turns a dividend announcement into a closed income entry — covering ex-date entitlement, payable-date receipt, rate-vs-amount reconciliation, tax withholding, and failed-trade claims.
The use of distributed ledger technology as books and records infrastructure for financial institutions, subject to the same substantive standards as traditional recordkeeping systems.
Financial market infrastructure built on distributed ledger technology — enabling atomic DvP settlement, programmable cash legs, and shared-ledger synchronization that replaces the bilateral reconciliation burden of traditional capital markets.
The design of the distributed ledger protocol layer — validator governance, consensus mechanism, access controls, and finality model — that determines settlement certainty, privacy, and liquidity access for any DLT rail a regulated firm operates on.