Glossary

The immutable, chronologically linked record of every trade lifecycle event — from order receipt through settlement — maintained to satisfy SEC Rules 17a-3 and 17a-4, FINRA clock synchronization requirements, and CAT reporting obligations.

The software layer that enables broker-dealers to meet SEC and FINRA regulatory obligations — books and records, net capital, supervisory controls, and audit trail — through automation rather than manual processes.

The SEC rule requiring broker-dealers to maintain minimum liquid net capital at all times, calculated under either the Basic Method or the Alternative Method, to support orderly operations and customer protection.

Brokerage API post trade integration turns API orders, fills, journals, transfers, and account events into a controlled operating record with mapping, status, exceptions, reconciliation, and evidence.

The buy-side workflow that transforms block trade executions into settled, reconciled account positions — covering allocation, affirmation, multi-custodian reconciliation, and IBOR shadow accounting under T+1 compression.

Software that matches a broker-dealer's internal cash ledger against bank statements and clearing utility records in real time, surfacing breaks for resolution before they create reserve formula errors, missed sweeps, or Rule 15c3-3 violations.

CAT clock synchronization is the broker-dealer control workflow for synchronizing, monitoring, logging, and evidencing business clocks used to timestamp CAT reportable events.

CAT linkage error 3701 is a specialist CAT feedback issue that should be investigated as a linkage break between reported order lifecycle events, source systems, and reporting parties.

The obligation under FINRA Rule 6800 Series and SEC Rule 613 for broker-dealers to report every NMS and OTC equity order event to the CAT Central Repository by 8:00 AM ET on T+1, with customer account data updated daily through CAIS.