SIDC Module 14 key terms

A shared industry utility that collects, validates, and distributes securities reference and transaction data to member firms under common standards, reducing duplicate data handling across the market.

Static or slowly changing attributes that identify a financial instrument, counterparty, or venue, such as identifiers, currency, and classification codes, as opposed to changing price or position data.

Continuously updating information on prices, quotes, trades, and volumes generated by trading venues, distinguished from static reference attributes by its high update frequency and time sensitivity.

An operating arrangement in which multiple firms jointly fund and govern a shared data service rather than each sourcing, cleaning, and storing the same data independently.

A discipline for creating and maintaining a single trusted version of core business entities, using matching, cleansing, and stewardship rules so that downstream systems agree on identifiers and attributes.

A code that uniquely designates a tradable instrument, such as an ISIN, CUSIP, or exchange ticker, used to link records across systems and counterparties.

A twelve-character international securities identification number combining a two-letter country code, a nine-character national identifier, and a check digit, used to identify securities globally.

A nine-character alphanumeric identifier assigned to North American securities, consisting of an issuer code, issue code, and check digit, widely used in settlement and clearing records.

A short abbreviation assigned by a trading venue or data vendor to identify an instrument in quote displays and order messages, which can change and is not globally unique.

A computed character appended to an identifier so that recipients can detect transcription errors by recalculating the value against a defined algorithm.

The process of linking a venue-specific ticker to a persistent instrument identifier so that records from different sources can be reconciled into one consistent security record.

The decision rights and accountability framework that specifies who may define, change, approve, and access data, including policies, standards, and escalation paths for resolving disputes.

A named role responsible for the day-to-day quality and correct use of a data domain, investigating exceptions, approving corrections, and documenting definitions and business rules.

Accountability assigned to a business function for a data set's definition, permitted uses, and overall fitness, distinct from the custodial work of storing and operating systems that hold it.

The measurable characteristics used to judge data fitness, typically completeness, accuracy, timeliness, consistency, validity, and uniqueness, each with defined thresholds and monitoring methods.

A testable condition applied to data, such as a mandatory-field check or a cross-field comparison, that flags records failing the condition for review or rejection.

The workflow for capturing records that fail validation, routing them to responsible staff, recording the resolution, and tracking recurring causes to prevent repeat failures.

A record of where each data element originated, which transformations and systems it passed through, and where it is consumed, used to trace errors and support audit requests.

Evidence about the source and processing history of a data element, including the submitting party, timestamp, and any enrichment applied, used to judge reliability.

A chronological, tamper-evident log of data changes and user actions that supports reconstruction of past states and demonstration of control effectiveness to reviewers.

Automated checks performed on inbound records, covering format, allowed values, referential integrity, and business rules, before the data is accepted into the master store.

A constraint ensuring that a value referencing another record, such as an instrument code in a trade, corresponds to an existing and active record in the referenced table.

The single agreed version of an entity assembled from multiple sources after survivorship rules resolve conflicts, used as the authoritative value for downstream distribution.

Predefined logic that decides which source value prevails when records conflict, for example preferring the most recent update or the highest-ranked provider for a given attribute.

The controlled delivery of data sets to consumers, including scheduling, file formats, entitlements, and confirmation that recipients received and loaded the data successfully.

The process of determining which users and firms may access which data sets, enforcing licensing and permission rules, and evidencing that access was authorized.

Technical and procedural measures that restrict data to approved users, such as role-based permissions, authentication requirements, and logging of access attempts.

A data delivery method that transmits a defined set of records at scheduled intervals as a file, in contrast to continuous streaming of individual updates.

A delivery method that pushes each update to consumers with minimal delay, typically through a message stream, requiring sequence handling and gap detection.

The numbering and ordering of streamed updates so that consumers can detect missing, duplicated, or out-of-order messages and request retransmission of gaps.

A consolidated extract produced after the close of trading that captures final positions, prices, and reference changes for the day, used for reconciliation and regulatory reporting.

The comparison of records held by two parties or systems to identify and explain differences, producing break items that must be investigated and cleared within defined timeframes.

A specific discrepancy identified during reconciliation, such as a quantity or identifier mismatch, tracked with an owner, aging, and resolution status until cleared.

An event initiated by an issuer that affects its securities, such as a split, dividend, merger, or redenomination, requiring timely reference data updates and position adjustments.

The elapsed time between an event occurring at the source and its availability to a consumer, a key service measure for time-sensitive market and reference data.

The policy defining how long each data category is kept, where it is stored, and how it is destroyed, balancing regulatory record-keeping duties against storage and privacy limits.

The set of obligations governing collection, use, transfer, and disclosure of personal information within data sets, including minimization and cross-border transfer restrictions.

The controlled process for approving, testing, and deploying changes to data definitions, feeds, or systems, including impact assessment and rollback plans.