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securities-custody

global custody and asset servicing

BNY, State Street, JPMorgan

SystemTechniques · 10Primitives · 40 securities-custody Durable workflow executiondistributed · medium: Ordinary code made crash-proof by logging every side-effect result and replaying the code from that log; activities run at least once, workflow logic must be deterministic.›Delivery versus paymentfinance · medium: Atomic exchange of securities and cash so neither leg settles without the otherInventory reservationfinance · medium: Reserving stock with TTL holds, release on timeout and no overselling under contentionTax lot accountingfinance · medium: Per-lot cost basis (FIFO, specific ID), wash-sale rules and tax-loss harvestingTamper-evident audit logsecurity · medium: An append-only log whose Merkle root, signed per batch, lets anyone verify an entry is present and history was never rewritten, with log-size proofs.›Bitemporal datastorage · medium: Valid time plus transaction time on every record for as-of queries, back-dating and correctionsRete rules enginesystems · medium: Match many rules against changing facts by caching partial matches in a shared network, so each change only does the work it actually affects.›Event sourcingfinance · low: Persist state changes as an append-only stream of immutable events per entity; current state is a fold over them, guarded by expected-version appends.›Double-entry ledgerfinance · low: Append-only journal of transactions whose postings sum to zero per currency; balances are derived, so money can only move, never appear or vanish.›Iso 20022 messagesfinance · low: ISO 20022 XML payment and securities messages (pacs, pain, camt, sese): structure and validationIdempotency keysfinance · low: Client-chosen unique key per logical operation, stored with a request fingerprint and the final response, so retries replay the first result instead of acting twice.›Corporate-action adjustmentfinance · low: Keep raw bars plus a tiny table of cumulative backward factors, built by one reverse scan over events and applied at read time, versioned by as-of date.›Money representationfinance · low: Store money as integer minor units with an explicit currency exponent, compute in wider integers, and round once with a named rounding mode.›Currency cross rate triangulationfinance · low: Deriving cross rates through a base currency with correct precision, inversion and spreadsDay count conventionsfinance · low: ACT/360, ACT/365, 30/360, ACT/ACT accrual fractions for interest and couponsLargest remainder roundingfinance · low: Splitting an amount into parts that sum exactly (largest remainder / Hamilton) for allocations, splits and prorationsReconciliationfinance · low: Match internal ledger records against bank and processor statements by reference, then amount and date window; every unmatched or mismatched item becomes an exception.›Dual control approvalsecurity · low: Four-eyes / maker-checker approval with quorum policies for sensitive operationsSurvivorship rulesstorage · low: Build the golden record by choosing each attribute from competing source records using trust rank, recency and completeness rulesBusiness day calendarssystems · low: Holiday calendars, business-day adjustment rules (following, modified following) and settlement cyclesHierarchical state machinesystems · low: Nest states so a substate inherits its parent's reactions and only overrides what differs, with ordered entry and exit actions along the path.›Record replaydistributed · low: Record every nondeterministic input (time, randomness, I/O, model and tool outputs, per-tick player input) and re-execute deterministically for debugging, replays and state rebuildHierarchical timing wheelsystems · low: Timers bucketed by expiry into wheels of slots, coarser wheels for far deadlines: O(1) insert and cancel for millions of timeouts.›+ 3 more techniques+ 24 more primitives

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