Glossary

The real-time tracking of a firm's securities holdings across all accounts and custodians, updated as trades execute, settle, and corporate actions are applied.

Software that automates daily comparison of internal position records against custodian statements, prime broker reports, and on-chain ledger state, surfacing breaks before they affect Rule 15c3-3 determinations, NAV, or securities count obligations.

The technology layer that turns post-trade activity into an exam-ready compliance record: audit trail, supervisory controls, and books and records under SEC and FINRA rules.

Technology automating post-execution back-office workflows — trade capture, confirmation, settlement, reconciliation, position management, and regulatory compliance.

Unified prime broker infrastructure delivering execution, custody, margin, and securities lending across traditional and digital assets from a single real-time system of record.

Broker-dealer service providing hedge funds with margin financing, securities lending, custody, and clearing through give-up arrangements — governed by a Prime Brokerage Agreement, ISDA Master Agreement, and FINRA Rule 4210.

The bank, broker-dealer, or trust company an investment adviser must engage to hold client assets under SEC Rule 206(4)-2 — subject to annual surprise examination and direct quarterly reporting to clients.

The governance and maintenance of static data that financial systems depend on — instrument identifiers, counterparty LEIs, and settlement rules — to process transactions correctly.

The post-trade obligation to submit structured trade data — transactions, positions, and order lifecycle events — to regulators under MiFID II, EMIR, Dodd-Frank, and CAT to establish the supervisory record of each trade.