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securities-settlement

securities settlement

DTCC, T2S

SystemTechniques · 5Primitives · 29 securities-settlement Two-phase commitdistributed · medium: Atomic commit across shards: participants durably vote yes, then the coordinator logs and broadcasts one decision; blocks if the coordinator is lost.›Delivery versus paymentfinance · medium: Atomic exchange of securities and cash so neither leg settles without the otherMultilateral nettingfinance · medium: Netting obligations across many parties into one net position per participant per currencyPayment state machinefinance · medium: Persisted state machine for a payment lifecycle (authorize, capture, void, refund) that treats timeouts as unknown, retries with the same key and applies webhooks idempotently.›Tamper-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.›Write-ahead logstorage · low: Append each change to a checksummed sequential log and fsync it before touching data pages; the basis of crash durability in nearly every database.›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 validationEvent 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.›Idempotency 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.›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.›Reconciliationfinance · 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.›Simplex methodoptimization · low: Solves linear programs by walking along the edges of the feasible polytope from vertex to vertex, one basis swap (pivot) at a time; the workhorse behind MIP solvers.›Business day calendarssystems · low: Holiday calendars, business-day adjustment rules (following, modified following) and settlement cyclesfsync, O_DSYNC and O_DIRECThardware-os · low: What fsync, fdatasync, O_DSYNC, O_DIRECT and F_FULLFSYNC really guarantee on Linux and macOS, and the exact call sequences for crash-safe files.›Hash aggregationstorage · low: GROUP BY via hash tables with partitioning and spill to diskExponential backoff with jittersystems · low: Retry after delays that grow geometrically and are randomized, so failed clients spread out instead of hammering a recovering service in synchronized waves.›Hierarchical 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.›Merkle treedata-structures · low: Hash tree for verifying and diffing large datasets with logarithmic proofsSegmented logdistributed · low: Split an append-only log into files named by their first offset, write only the newest, and find any record by binary search plus a sparse index.›Digital signatures (Ed25519)security · low: Small, fast, deterministic public-key signatures that prove who produced a message; the default for tokens, releases and protocols.›+ 13 more primitives

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