Glossary
Every term between trade and settlement.
Pre-agreed instructions specifying how a counterparty's securities and cash should be delivered or received, applied automatically to every qualifying trade.
End-to-end automation of the post-trade lifecycle from execution to DvP settlement, with STP rate as the primary compliance KPI under T+1.
SWIFT connectivity is the messaging infrastructure over which securities settlement instructions travel between broker-dealers, custodians, and CSDs — MT54x and sese.023 messages, both domestic and cross-border.
The authoritative single source of truth for a firm's positions, trades, and accounts — the system of record that all other systems, reports, and compliance functions derive from.
Same-day settlement achieved through atomic delivery versus payment at execution or accelerated same-day netting, requiring zero-latency processing, real-time liquidity management, and deterministic finality.
Compressed post-trade discipline under SEC Rule 15c6-1 — every pre-settlement step must typically complete on trade date, one business day before DvP settlement finality.
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.
Post-execution process that splits a block trade into account-level positions, each generating a separate confirmation and settlement obligation.