Question 1

What type of firms use post-trade operations software?

Accepted Answer

Post-trade operations software is used by three primary firm types in institutional capital markets. Broker-dealers require it for net capital computation (SEC Rule 15c3-1), customer reserve formula (15c3-3), FINRA supervisory controls, and FOCUS reporting. Asset managers require it for investment book of record (ABOR), position reconciliation, settlement monitoring, and counterparty exposure management. Digital asset firms require it for on-chain settlement operations, WORM audit trail, maker-checker enforcement, and the operational due diligence evidence that institutional prime brokers require.

Question 2

What is broker-dealer post-trade compliance software?

Accepted Answer

Broker-dealer post-trade compliance software automates the operational and regulatory workflows required under SEC Rules 15c3-1 (Net Capital), 15c3-3 (Customer Protection), 17a-3 and 17a-4 (Books and Records), and FINRA Rule 3110 (Supervision). This includes daily net capital computation with haircut schedules, customer reserve formula calculation, in-transit position aging, FOCUS report generation, and the maker-checker audit trail required to evidence supervisory controls during an examination. For hybrid broker-dealers operating across traditional and digital rails, the software must cover both rails within the same compliance framework.

Question 3

How does post-trade software handle digital asset operations?

Accepted Answer

Post-trade software for digital asset operations must cover on-chain settlement finality tracking, maker-checker enforcement upstream of custody signing, WORM audit trail for on-chain and traditional events in the same log, and stablecoin settlement asset capital treatment under SEC staff guidance (February 2026). Institutional prime brokers conducting Operational Due Diligence evaluate digital asset firms against the same controls standards they apply to traditional counterparties. Post-trade software that applies the same compliance framework to on-chain events as to traditional settlement events is the operational prerequisite for passing that evaluation.

Three firm types. One operational model.