Ficta · Meridian is a synthetic institution — every name, client, trade and number is inventedEnter the Lab →

Ficta Meridian Group

Markets, banking and wealth.
One institution.

A diversified financial services group serving corporates, institutions and private clients worldwide — supported by a single operations and control platform.

Our role in society

Progress is a shared responsibility.

We believe finance can be a positive force. Across our business, colleagues are helping clients navigate the transition, strengthening communities and making considered choices for the long term.

£12.4mCommunity investment
38%Operational carbon reduction
24,600Colleague volunteering hours
Our responsibility highlights →Illustrative synthetic claims. No real-world performance is asserted.
Ficta Meridian Group — at a glanceAs at yesterday's closeSheet 01 of 01
01 · Major businesses5

One operations platform

02 · Entities & client assets8 · £48bn

Four jurisdictions · under administration

03 · Settlement99.97%

Same-day rate

02 · Our businesses6 operating businesses

Corporate & Investment Banking

Strategic advisory, capital raising and financing solutions for corporates and institutions.

Global Markets

Sales and trading across equities, rates, credit and foreign exchange, including Delta One.

Transaction Banking

Cash management, trade finance, clearing and custody for institutional clients.

Wealth & Private Banking

Comprehensive wealth planning and discretionary management through Ficta Meridian PB.

Asset Management

Institutional strategies across traditional and alternative asset classes.

Markets Operations & Control

The unit behind every trade: booking, allocation, reconciliation, collateral, settlement and release.

03 · Our leadership3 senior profiles

Senior management is accountable for the group's operating platform and control framework.

Teke Pellow
Managing Director, Technology

Teke Pellow

Reports to Z. Quarry

Responsible for technology across the operations platform, including the systems that book, margin and settle every trade.

Mosa Pryce
Director, Market & Credit Risk

Mosa Pryce

Reports to T. Pellow

Oversees market and credit risk for the trading businesses — limits, exposures and counterparty review.

Mofa Tregarth
Managing Director, Middle Office Control

Mofa Tregarth

Reports to M. Marchant

Responsible for middle office control across the group: trade support, confirmations and the daily control framework.

Corporate surface // groupLab environment // 2026
FM-LAB / EVIDENCE SYSTEMRelease state // provisional

Institutional decomposition // technical buyer entry

Institutional operations mapped to agent capabilities.

This inspection surface connects 42 released coverage primitives to 69 source-grounded Episodes, task specifications, adjudication rubrics and measured recovery probes.

Built forAI platform leadsModel riskOperations transformationEvaluation teams
Release contract & inspectable artifactsv0.6.2 · 65 verified artifacts
Contract releasev0.6.2bocg-common-semantics 0.4.0
Manifest67f491ec406865 artifacts verified at build
Daily build2026-10-167 sealed inputs · FinExhaust c6d7a1c59de2
Inspect JSON manifest →
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Public: canonical definitions, schemas and adjudication rubrics. Private: occurrence instances and the Record plane. Examples below are Cast-only synthetic counterparts.

BOCG v0.6.2 · Operating reference 1.0.0

BOCG: desk functions & regulatory evidence

Explore the work a desk performs, the public provisions relevant to that work, and what the current evaluation can support.

42divisions
217function definitions
766canonical tasks
18proposed regulatory mappings
Inspect reference data ↗

Shared definitions from the released model-consensus grid. Named institutional units, reporting lines, books, systems and local settings are held in Finexhaust's private reference register. The released catalogue contains 0 curated control-point definitions; proposed cells do not count as curated.

42 divisions match

Buyside Investment Compliance1 functions · 4 tasks

Functions

  • Investment compliance / guideline monitoring analyst (pre- and post-trade rule coding and breach management)

Canonical tasks

  • code prospectus ima guideline into compliance system
  • block non compliant order pre trade
  • detect post trade breach regulatory limit ucits art 52 1940 act limit
  • notify client regulator material breach within required timeline
Buyside Investment Operations2 functions · 7 tasks

Functions

  • Buy-side investment operations / NAV and fund accounting oversight analyst (administrator oversight, reconciliation, corporate actions, pricing challenge)
  • Buy-side investment-operations, collateral, fund-accounting, performance and investment-risk specialists

Canonical tasks

  • corporate action election entitlement capture
  • process corporate action derivative lifecycle event
  • stale fair value price challenge on illiquid holding under rule 2a 5
  • daily nav validation against tolerance prior day roll forward
  • position cash reconciliation between accounting book record custodian
  • calculate strike a fund net asset value
  • reconcile position cash transaction with custodian
Buyside Ldi Overlay1 functions · 4 tasks

Functions

  • Overlay/LDI portfolio manager-trader (per large pension fund or insurer; rates, inflation and equity hedging programs)

Canonical tasks

  • measure tracking overlay versus liability hedge target
  • monitor emir classification exemption status report derivative trade
  • reconcile collateral margin on cleared bilateral hedge
  • compute hedge ratio versus liability benchmark rebalance
Buyside Performance Risk Reporting1 functions · 4 tasks

Functions

  • Performance measurement, attribution and investment risk reporting analyst

Canonical tasks

  • produce kid performance scenario per priip methodology
  • compute portfolio composite return from custodian record
  • maintain composite construction membership per firm policy gip aligned
  • attribute performance versus benchmark from holding transaction
Buyside Portfolio Management7 functions · 24 tasks

Functions

  • Institutional portfolio manager (long-only, buy-side counterpart of markets flow)
  • Portfolio managers, sector analysts, asset allocators and investment-strategy specialists
  • Institutional portfolio managers, asset allocators and investment analysts generating orders for dealer counterparties
  • Hedge fund portfolio manager / trader (buy-side counterpart of prime brokerage and markets flow)
  • Buy-side portfolio construction & risk (portfolio managers, risk quants, rebalancing analysts)
  • Portfolio managers, asset allocators and portfolio-construction specialists
  • Index/ETF portfolio manager (replication, rebalancing, creation/redemption management at a large asset manager)

Canonical tasks

  • pre post trade mandate compliance testing
  • deploy excess cash within ips band
  • process creation redemption with authorized participant
  • file form pf consistent with book
  • rebalance portfolio at index review against announced index change
  • cure concentration limit breach within regulatory window
  • compute performance versus benchmark under gip
  • implement an approved rebalance
  • calculate portfolio exposure attribution
  • verify financing margin term applied by prime broker
  • calculate performance attribution
  • calculate portfolio exposure against mandate limit
  • attribute portfolio performance
  • generate rebalance order from target weight
  • measure report tracking difference tracking error versus benchmark
  • strike monthly nav versus administrator
  • generate rebalance order from approved target
  • test a portfolio against mandate constraint
  • test proposed holding against mandate regulatory restriction
  • reconcile position p l to prime broker daily
  • rebalance portfolio to policy weight
  • equitise cash reinvest dividend to minimize cash drag
  • allocate trade across account per policy
  • rebalance to model portfolio within drift tolerance
Buyside Trading Execution11 functions · 39 tasks

Functions

  • Buy-side dealer / execution trader on an asset manager or hedge fund central dealing desk
  • Buy-side execution trader (asset management central dealing desk across equities, FI and FX)
  • Buy-side dealing desk (execution trader) and execution analytics/TCA specialist at an asset manager or asset-management arm of a G-SIB
  • Buy-side dealing desk (institutional execution traders, dealing desk heads at asset managers)
  • Buy-side dealer / centralised dealing desk trader with best-execution and TCA oversight (asset management arm of the G-SIB)
  • Buy-side execution trader (central dealing desk of a large asset manager, incl. G-SIB asset management arms)
  • Buy-side execution traders, dealer-relationship managers and transaction-cost analysts
  • Hedge fund execution/portfolio trader (per large multi-manager or macro fund; financing and execution across prime brokers)
  • Buy-side execution traders, dealer managers and transaction-cost analysts
  • Buy-side traders, execution specialists, dealer-relationship managers and transaction-cost analysts
  • Buy-side execution trader (asset manager dealing desk)

Canonical tasks

  • reconcile research payment account commission budget usage to agreed budget for period
  • fair allocation partially filled aggregated order across fund
  • allocate block execution across fund account
  • select broker venue algorithm for a portfolio manager order consistent with execution policy measure realised cost against arrival price
  • allocate fill across fund per pre trade allocation instruction
  • validate an order before release
  • allocate block trade across client fund per policy
  • select an eligible broker or venue for an order
  • trade instruction settlement instruction transmission to custodian
  • track locate availability borrow cost for short position
  • measure execution quality
  • allocate block fill across fund per stated allocation policy
  • administer research unbundling payment account
  • validate an order against portfolio cash compliance constraint
  • demonstrate best execution to best execution committee
  • broker venue selection algo parameterisation against execution policy
  • publish rts 28 top five execution venue report
  • select venue broker execution strategy per execution policy document rationale clear post trade tca outlier
  • monitor margin financing term across prime broker
  • reconcile commission csa usage to budget
  • execute allocate a block trade
  • achieve best execution against arrival price venue benchmark
  • reconcile position cash against prime broker administrator record
  • score broker algorithm performance manage algo wheel
  • measure execution quality versus arrival price across prime venue
  • allocate fill across fund per policy
  • verify counterparty eligibility credit line clearing arrangement before executing derivatif order
  • allocate a block execution across client account pro rata under allocation policy
  • calculate transaction cost best execution metric
  • reconcile commission csa usage against budget
  • select broker venue consistent with best execution policy
  • run periodic best execution monitoring produce committee report
  • pre trade compliance rule clearance for a proposed order
  • allocate partially filled block order across participating fund per allocation policy
  • screen order against restricted list before routing
  • resolve pre trade compliance rule breach before order release
  • measure execution versus arrival vwap benchmark
  • allocate execution among fund
  • reconcile execution against custodian record
Capital Markets Origination Combined5 functions · 16 tasks

Functions

  • Syndicate desk manager (DCM and ECM bookbuilding, pricing and allocation)
  • ECM and DCM originators, syndicate bankers and capital-markets execution bankers
  • Debt and equity capital-markets originators, syndicate bankers and execution specialists
  • ECM/DCM origination banker and syndicate desk (pricing, books, allocation)
  • Primary markets origination & syndicate (syndicate bankers, DCM/ECM capital markets officers)

Canonical tasks

  • reconcile offering economic
  • allocate new issue per allocation policy restricted account rule
  • calculate an offering s source use dilution pro forma capitalization
  • complete due diligence comfort letter bring down procedure before pricing closing
  • allocate security to investor order
  • allocate new issue order per published priority policy
  • complete pricing settlement instruction
  • determine regulation m restricted period impose trading research restriction
  • complete prospectus consistency verification
  • conduct document stabilization within permitted window price
  • build offering capitalization source use schedule
  • price deal consistent with final term documentation
  • calculate settle underwriting fee expense per agreement
  • conduct stabilization within regulation m rule 104 bound
  • file underwriting compensation package with finra clear offering
  • build order book produce pricing coverage analysis at launch price allocate within mandated term
Client Lifecycle Kyc1 functions · 4 tasks

Functions

  • Client lifecycle management / KYC analyst and onboarding documentation specialist for institutional trading clients

Canonical tasks

  • verify that required trading documentation isda csa gmra gmsla clearing addendum regulatory representation is executed correctly captured in term database
  • execute periodic risk based kyc refresh before due date
  • complete kyc file for a new institutional client including beneficial ownership identification screening
  • collect validate regulatory classification protocol adherence lei mifid client categorisation cftc emir representation tax form
Collateral Margin Management4 functions · 16 tasks

Functions

  • Collateral management / margin operations analyst (bilateral CSA calls, UMR IM, CCP margin, disputes)
  • Collateral management / margin operations analyst (VM and IM calls, disputes, custodian segregation)
  • Collateral management and margining analyst/manager (OTC, cleared and securities financing margin)
  • Collateral management / margin operations analyst (call issuance, dispute resolution, IM segregation, optimisation support)

Canonical tasks

  • calculate regulatory initial margin simm or grid post to segregated custodian evidence segregation
  • simm initial margin calculation reconciliation with counterparty
  • apply eligibility schedule haircut to posted collateral
  • apply haircut concentration limit eligibility check to collateral received
  • compute daily variation margin call per csa threshold mta rounding eligible currency agree it with counterparty
  • compute issue daily variation margin call under each csa s term threshold mta rounding eligible collateral
  • compute document aana calculation determining umr in scope status for compliance period
  • daily variation margin call computation issuance agreement
  • issue respond to margin call per csa regulatory timeline
  • validate posted collateral against eligibility schedule apply correct regulatory haircut including fx add on
  • collateral eligibility haircut validation on received asset
  • reconcile segregated initial margin balance with triparty custodian counterparty daily
  • resolve margin dispute within escalation threshold
  • compute initial margin under isda simm reconcile with counterparty
  • margin dispute investigation resolution against counterparty s figure
  • reconcile collateral balance interest including negative rate with counterparty monthly
Commodities Physical Operations1 functions · 4 tasks

Functions

  • Commodities trader (energy, metals, index) with scheduling/logistics and desk analytics support

Canonical tasks

  • physical settlement reconciliation for a delivered cargo lot
  • daily position limit accountability level monitoring against exchange limit
  • future roll expiry management for physically deliverable contract
  • remit emir reporting wholesale energy contract
Commodities Trading12 functions · 40 tasks

Functions

  • Commodities trading desk (metals, energy, agricultural; futures, options, physical-linked books)
  • Energy, metals, agricultural and commodity-index salespeople, traders and schedulers
  • Energy, metals, agriculture and environmental-products salespeople, traders and structurers
  • Commodities trader (energy, metals, agriculture)
  • Commodities derivatives trader (energy, metals, agriculture) with scheduling/operations analyst support
  • Commodities derivatives trader
  • Commodities trader (energy, metals, agriculture; financial swaps/options and physical)
  • Commodity trader (energy, metals, power/gas) with scheduling and physical operations support
  • Energy, metals, agricultural and environmental-products sales, trading and structuring
  • Commodities trader and structured commodity hedging specialist
  • Commodities trader / market-maker
  • Commodities trader and physical scheduler (energy, metals, agriculture; paper and physical)

Canonical tasks

  • swap settlement calculation
  • execute expiry roll to avoid unintended physical delivery
  • price a commodity future swap or option
  • hedge a commodity swap exposure using exchange future
  • reconcile clearing margin call against ccp statement inventory
  • monitor reduce position in a spot month against applicable federal or exchange position limit
  • monitor exchange cftc position limit accountability level
  • test a proposed position against limit
  • validate commodity forward curve mark against settle data
  • report wholesale energy transaction to acer under remit
  • submit physical delivery nomination scheduling by pipeline or exchange deadline
  • keep position within federal exchange speculative position limit through spot month
  • calculate position limit accountability exemption
  • nominate physical delivery versus pipeline terminal schedule
  • reconcile future position margin to clearing broker daily statement
  • inventory p l mark
  • verify physical delivery document before payment release
  • settle ccp margin on cleared energy metal position
  • mark book against third party price assessment exchange settlement
  • reconcile physical financial exposure
  • confirm physical nomination with pipeline counterparty
  • verify exchange regulatory position limit
  • match executed trade to exchange product specification expiry date
  • file weekly commodity position report to trading venue nca under mifid ii
  • price a commodity swap or option
  • validate curve mark versus published price assessment
  • reconcile exchange cleared position variation margin to internal book daily
  • future roll execution
  • reconcile physical delivery obligation
  • nominate confirm physical financial delivery obligation for expiring contract
  • monitor report position versus exchange cftc limit
  • report commodity swap to an sdr or trade repository
  • monitor close out an exchange position approaching delivery
  • validate swap data reporting field under cftc part 45
  • reconcile physical inventory to warehouse receipt warrant
  • report remit reportable wholesale energy contract to acer repository
  • set basis hedge ratio for physical cargo
  • validate commodity curve mark against published assessment
  • monitor position against cftc exchange position limit
  • reconcile physical delivery or cash settlement
Credit Trading13 functions · 44 tasks

Functions

  • Credit trader / market-maker
  • Credit market maker (IG/HY cash, CDS index and single-name) and credit portfolio trader
  • Corporate bond / CDS market maker
  • Credit trader (investment grade, high yield, distressed, CDS indices and single names)
  • Credit market-making trader (IG/HY cash, CDS index and single name) with desk analyst support
  • Credit trading desk (cash bonds, CDS indices/options, loan trading)
  • Investment-grade, high-yield, distressed-debt and credit-derivatives salespeople and traders
  • Credit trader and CDS/credit index hedger
  • Credit market maker (investment grade / high yield cash, CDS index and single name) with desk analyst support
  • Investment-grade, high-yield, distressed-debt and credit-derivatives salespeople, traders and structurers
  • Credit flow trader (investment-grade and high-yield bonds, CDS indices and single names)
  • Investment-grade, high-yield, distressed, municipal and credit-derivatives sales and trading
  • Corporate credit and credit derivatives trader

Canonical tasks

  • check issuer isin against approved credit sanctioned restricted list before pricing
  • apply correct credit event succession event treatment to position after an isda determination committee decision
  • allocate a block bond trade across client account per allocation instruction
  • report each cash bond trade to trace within prescribed reporting period
  • compute cash cds basis hedge for a risk transfer trade execute offsetting index hedge
  • mark inventory book to independently verifiable level at month end
  • report us corporate bond trade to trace within required window
  • reconcile bond position to custodian depot
  • report an eligible bond transaction to trace
  • trace dissemination compliance for block trade
  • cds bond basis calculation
  • compare executed cds index spread or cash bond price to independent pricing service
  • determine whether a credit event or lifecycle event change contractual cash flow
  • calculate a bond or cds quote
  • apply a credit index roll hedge to a cds book
  • execute relative value bond switch identified on decision screen
  • perform month end independent price verification bond cds mark
  • reconcile cds index roll position coupon roll adjustment at index roll date
  • price a high yield bond rfq against an index hedge
  • verify credit event settlement
  • reconcile inventory issuer concentration
  • clear index cds hedge at ice clear credit
  • manage aged inventory against target
  • clear aged inventory single issuer concentration limit report to zero unapproved excess
  • report corporate bond trade to trace within prescribed time window
  • monitor issuer counterparty limit
  • attribute daily p l to credit curve spread mof
  • report corporate bond trade to trace within 15 minute
  • corporate bond inventory mark
  • submit index cds trade to central clearing
  • construct a bond or cds client quote
  • mark to market cash credit inventory at official close
  • hedge credit spread risk with cds index or rate instrument
  • credit event determination
  • price a cash bond or credit derivative
  • settle credit event auction cds
  • mark corporate bond position to independent market data
  • mark bond cds inventory against composite pricing
  • index versus single name basis hedge construction
  • cds credit event auction settlement handling
  • validate cds reference entity restructuring clause against isda credit derivatif definition
  • report each principal corporate bond trade to trace inside rule 6730 window with correct price size capacity flag
  • allocate an executed credit transaction
  • apply evidence a mark up mark down disclosure on qualifying retail principal trade
Cross Asset Structuring3 functions · 9 tasks

Functions

  • Cross-asset structurers, quantitative strategists, derivatives marketers and transaction engineers
  • Structuring and cross-asset solutions specialist
  • Cross-asset derivatives structurer

Canonical tasks

  • verify structured payoff against term sheet using pricing library simulation
  • final termsheet validation
  • translate commercial term into contractual payoff logic
  • produce hedge decomposition
  • check hedge notional trade booking against risk system inventory
  • payoff replication portfolio construction
  • confirm legal definition match isda confirmation term sheet
  • hedging product classification check
  • validate structured product valuation greek
Custody Asset Servicing2 functions · 8 tasks

Functions

  • Asset servicing specialist — corporate actions, income/tax, proxy and depositary oversight (onshore hubs: New York, London, Dublin, Luxembourg, Hong Kong)
  • Asset servicing / corporate actions and income processing analyst, custody client operations

Canonical tasks

  • file withholding tax reclaim relief at source documentation within statutory deadline
  • reconcile client holding cash to sub custodian depository statement
  • perform depositary cash flow monitoring record reconciliation for a ucits aif
  • process client election for voluntary event submit to depository before deadline
  • capture a corporate action announcement scrub it across source notify client with correct deadline
  • calculate post income entitlement dividend coupon with correct tax withholding reclaim
  • transmit client proxy voting instruction before market agent deadline
  • create a golden copy corporate action record from multiple source compute entitlement post proceed to client account
Dcm Origination6 functions · 21 tasks

Functions

  • Debt capital markets banker / syndicate
  • DCM originator / syndicate desk banker
  • Debt capital markets origination banker and syndicate desk (bookrunning, pricing, allocation)
  • Debt capital markets origination banker and syndicate desk (pricing, bookbuilding, allocation)
  • Debt-capital-markets origination, structuring, syndication and liability-management bankers
  • Debt capital markets originator and syndicate banker

Canonical tasks

  • book building final allocation against stated allocation policy
  • allocate a syndicated bond issue to investor
  • produce an allocation record that tie to order book stated allocation policy
  • settlement new issue into clearing system
  • pricing supplement final term production filing
  • stabilisation activity recording disclosure
  • ensure final term pricing supplement match priced deal economic clearing system instruction
  • reconcile underwriting fee to syndicate agreement
  • verify fee split against syndicate agreement
  • notify competent authority stabilisation activity within required period
  • prepare an offering term sheet
  • build reconcile an order book
  • settle new issue on closing date
  • price new issue file final term
  • file underwriting term arrangement with finra before offering commence where required
  • run a covenant analysis against a proposed bond structure
  • calculate final allocation proceed
  • price a new issue against a leveraged finance comparable set
  • allocate book per allocation policy
  • check final prospectus term against agreed issue size coupon maturity
  • reconcile investor order book against allocation subscription agreement
Ecm Origination5 functions · 17 tasks

Functions

  • Equity capital markets origination banker and ECM syndicate (bookbuild, pricing, stabilisation)
  • Equity capital markets banker / syndicate
  • Equity-capital-markets origination, structuring, equity syndicate and private-placement bankers
  • ECM syndicate / origination banker
  • Equity capital markets originator and syndicate banker

Canonical tasks

  • ensure prospectus registration statement is approved or filed before offering launch
  • enforce lock up agreement
  • enforce regulation m restricted period constraint on syndicate s trading research during a distribution
  • produce final share allocation
  • price ipo follow on per pricing committee approval
  • confirm a transaction is exempt from stabilization rule
  • verify underwriting fee split against syndicate agreement
  • check final offer price share count against executed underwriting agreement
  • calculate capitalization dilution for an offering
  • build an order book allocate share under allocation policy
  • reconcile indication interest
  • allocate share consistent with finra 5131
  • validate an issuer s adjusted financial metric for marketing material
  • screen investor order for rule 105 ineligibility before allocating an offering
  • reconcile initial allocation against investor order lock up agreement
  • reconcile greenshoe exercise stabilisation position to syndicate account at closing
  • conduct stabilisation within reg m rule 104
Electronic Execution3 functions · 10 tasks

Functions

  • Electronic trading & algo development (e-quants, algo traders, platform engineers embedded in trading)
  • Electronic trading quant and algorithmic execution developer
  • Electronic trading strategist/quant developer (execution algorithms, smart order routing, algo testing and certification)

Canonical tasks

  • enforce pre trade risk throttle fat finger limit
  • measure order handling latency against timestamped venue message
  • tune smart order router measure realized slippage
  • halt malfunctioning algorithm via kill functionality
  • measure algorithm performance versus benchmark investigate outlier
  • conduct kill switch deployment rollback drill
  • run a kill switch drill for an algorithmically traded account
  • run annual rts 6 self assessment algorithm conformance testing
  • test 15c3 5 pre trade control credit capital threshold erroneous order check
  • validate algorithmic order routing logic against synthetic order test
Em Trading5 functions · 18 tasks

Functions

  • Emerging markets trader (local currency rates, EM FX including NDFs, sovereign and corporate EM credit)
  • EM macro trader / market-maker
  • Emerging markets trader (local rates and FX, sovereign hard-currency credit, NDFs)
  • Emerging markets rates / FX trader
  • EM local markets and hard currency trader

Canonical tasks

  • settle local currency trade via local csd custodian
  • compute withholding tax on local bond income
  • report ndf to sdr trade repository
  • verify hedge ratio against sovereign benchmark duration
  • local currency bond hedge
  • fix ndf settlement against official central bank fixing
  • apply local withholding transaction tax on settlement
  • attribute daily p l including fx revaluation local currency position
  • reconcile local currency bond settlement against local csd record
  • maintain position within local exchange regulator limit
  • fix ndf versus official local fixing
  • sovereign restructuring cash flow reconciliation
  • report in scope derivatif to local repository mas hkma equivalent
  • check sovereign issuer local isin against restricted or sanctioned issuer list
  • settle sovereign eurobond trade via international csd
  • em fx ndf fixing
  • register local market otc trade with local infrastructure
  • fix ndf against emta template rate source
Equities Trading14 functions · 50 tasks

Functions

  • Cash equity execution / program trader and electronic trading (algo, SOR, market access) desk quant
  • Equity execution trader / sales-trader (cash equities, agency and risk facilitation)
  • Equities Sales Trader
  • Cash equity sales-trader / execution trader
  • Cash equities trader (agency execution, program trading, block trading, exchange market making)
  • Cash equities sales trader, high-touch/program trader and electronic execution (algo) desk support
  • Equities cash and derivatives trader
  • Cash-equity sales traders, electronic traders, program traders and equity-derivatives traders
  • Equities trading desk (cash, program/basket, delta-one, options market makers)
  • Cash-equities sales traders, electronic traders, equity-derivatives traders and equity structurers
  • Equities trader and program/derivatives risk manager
  • Electronic/program execution trader, algo strategist and execution-quality analyst
  • Equities Trader
  • Cash-equities, program-trading, electronic-execution, equity-derivatives sales and trading

Canonical tasks

  • trade through locked crossed market exception clearing
  • allocation a program basket execution across client account
  • deliver algorithmic execution within benchmark tolerance vwap arrival
  • route an agency equity order
  • manage inventory risk limit
  • route a marketable order in compliance with order protection rule no trade through
  • client pitch book generation
  • inventory management
  • mark equity derivatif to independent volatility surface
  • corporate action position adjustment
  • measure algorithmic order performance versus arrival price
  • reconcile executed quantity average price commission fee
  • obtain record reg sho locate before accepting short sale order
  • execute client order at or better than nbbo prevailing at receipt
  • reconcile etf create redeem basket against fund composition file
  • index rebalance hedge
  • adr parity pricing
  • execute a vwap is algorithmic order measure slippage versus stated benchmark
  • book hedge an equity derivative
  • comply with reg sho locate close out
  • settle us equity trade t 1 via nscc cns
  • enforce pre borrow locate before short sale
  • route a marketable order without a trade through a protected quotation or under a documented rule 611 exception
  • execute a client portfolio transition with minimal tracking error
  • demonstrate best execution via tca against arrival price interval benchmark
  • obtain locate before executing short sale
  • hedge an equity swap exposure using cash future
  • verify order routing compliance with sec rule 606 regulation nms
  • allocate program trade per client instruction at average price
  • block trade execution
  • short sale locate confirmation before execution
  • close out fail to deliver under rule 204
  • match client block trade
  • calculate vwap twap execution quality
  • maintain delta one basket replication versus index
  • calculate transaction cost analysis
  • best execution outlier review client order against benchmark arrival vwap close
  • demonstrate execution quality versus nbbo
  • route order consistent with disclosed routing practice
  • publish rule 606 quarterly order routing report reconciled to routing log
  • produce validate quarterly rule 606 order routing report
  • route execute a client equity order
  • compare executed fill price to arrival or vwap benchmark from venue data
  • route an agency equity order under venue client constraint
  • apply locate close out requirement for short sale order
  • obtain record a locate before accepting a short sale order
  • complete annual rts 6 algorithm self assessment pre deployment conformance test for a new algo release
  • price an equity option or structured payoff
  • complete transaction cost analysis
  • demonstrate best execution for client order
Equity Derivatives Structured6 functions · 24 tasks

Functions

  • Equity derivatives / structured products trader and structurer with pricing quant support
  • Equity derivatives trader / structured products structurer
  • Equity derivatives trader (listed/OTC options, equity swaps, structured notes, dividend and volatility products)
  • Equity derivatives trader (listed options, OTC exotics, structured products, delta-one)
  • Equity derivatives / exotics trader, structurer and desk quant
  • Equity derivatives trader (flow options, exotics/structuring, delta one) and structured products structurer

Canonical tasks

  • rebalance delta hedge to risk limit
  • determine autocall barrier observation outcome resulting coupon or redemption on observation date
  • mark end day volatility surface against listed option settlement price
  • process corporate action on otc equity swap forward
  • determine autocall barrier observation on structured note
  • hedge exposure through a corporate action or index rebalance so position is economically neutral on effective date
  • produce refresh priip kid performance scenario risk indicator for each issued retail note
  • report security based swap under reg sbsr
  • compute post daily delta vega gamma risk against limit rebalance listed hedge
  • apply corporate action adjustment to equity swap structured note
  • independent price verification exotic derivative mark
  • autocall barrier observation processing coupon determination
  • apply corporate action adjustment to listed otc option strike ratio
  • report security based swap to a registered sdr
  • delta hedge option book
  • mark volatility surface dividend curf against observable input
  • priip kid final term production for a new issuance
  • reconcile variation margin against ccp counterparty statement
  • observe barrier coupon event on structured note versus official fixing
  • dividend corporate action adjustment to listed otc equity derivative position
  • rebalance delta hedge book to within tolerance model delta at close
  • volatility surface calibration for pricing model against observable listed option
  • price an autocallable structured note against model funding curve volatility surface including hedging cost issuance funding credit
  • produce or refresh a priip kid with correct sri performance scenario before offer open
Ficc Combined2 functions · 6 tasks

Functions

  • FICC Sales Trader
  • FICC Trader

Canonical tasks

  • pricing quote generation
  • hedge directional exposure using future swap
  • mark to market proprietary book at eod
  • order execution routing
  • risk limit monitoring
  • execute client order against internal inventory
Fx Trading11 functions · 39 tasks

Functions

  • FX spot/forward/NDF market maker
  • FX spot/forward market maker, eFX pricing quant and algo execution trader
  • Spot/forward FX market maker, eFX pricing quant and algo execution desk
  • Spot, forward, swap, NDF and FX-options salespeople and traders
  • FX trading desk (spot, forwards/NDFs, options traders)
  • FX trader (G10 and EM spot, forwards, NDFs, FX options; voice and electronic market making)
  • FX trader / market-maker
  • FX/Derivatives Market Maker
  • FX trader (G10 and EM spot, forwards, NDFs and FX swaps)
  • FX spot/forward/options market maker and eFX pricing & risk trader
  • FX spot / eFX trader

Canonical tasks

  • quote fx forward ndf point consistent with covered interest parity
  • quote bid ask spread for otc derivatif
  • confirm settlement amount settlement date against swift mt300 confirmation
  • manage last look hold time reject rate within published disclosure
  • verify forward point against covered interest parity for same currency pair tenor
  • apply disclosed mark up schedule to client rfq pricing for a given tier size
  • settle deliverable fx through cls
  • cls settlement eligibility netting for day s fx flow
  • report fx forward swap to a trade repository under emir
  • wm refinitiv fixing order handling execution
  • last look hold time reject rate disclosure compliance
  • validate forward point settlement amount
  • spot rate construction
  • reconcile end day fx position daily p l to trade capture prime broker give up record
  • skew spread parameter calibration for efx pricing engine per client tier
  • fix ndf against official central bank rate
  • generate an executable fx quote
  • stream executable price within spread uptime sla on e fx venue
  • reconcile fx position to nostro balance
  • roll forward position at correct tom next forward point
  • settle cls eligible fx trade through cls bank
  • match cls netting file against booked fx trade
  • handle benchmark fix order e g wm refinitiv 4pm with correct order handling no information leakage
  • determine ndf payoff against published fixing rate
  • report fx forward ndf under emir cftc
  • monitor determine barrier event on fx option
  • ndf fixing
  • reconcile currency position cash
  • forward point alignment
  • execute a benchmark fix order e g wm r 4pm consistent with order handling standard
  • keep last look hold time within publicly disclosed window on single dealer platform
  • report ndf fx option transaction to sdr trade repository within required deadline
  • execute scheduled option vega gamma hedge
  • calculate post variation margin
  • execute client fixing order wmr ecb fixing
  • manage delta neutral hedging for option book
  • apply client tier mark up schedule to a streamed or rfq price disclose it where required
  • report fx swap forward to a swap data repository
  • settle ndf against published official fixing
Institutional Sales Coverage2 functions · 6 tasks

Functions

  • Institutional salesperson
  • Multi-asset markets salesperson

Canonical tasks

  • verify client classification product suitability against regulatory profile
  • mifid finra suitability record completion
  • match allocation instruction to client consent order line
  • compare client order instruction with recorded communication executed ticket
  • commission reconciliation
  • rfq response metric
Leveraged Finance Loan Capital Markets1 functions · 4 tasks

Functions

  • Loan syndicate / leveraged finance desk banker

Canonical tasks

  • reconcile fee to fee letter
  • apply flex term allocate syndication book
  • track covenant compliance certificate
  • fund closing per credit agreement
Listed Derivatives Client Clearing6 functions · 24 tasks

Functions

  • Client clearing / FCM operations and clearing risk analyst (give-ups, margin, segregation reporting)
  • Listed derivatives clearing and client clearing operations manager (FCM clearing, give-ups, client margin)
  • Listed derivatives client clearing desk (clearing broker / FCM)
  • Listed derivatives execution and clearing specialist (client clearing risk, give-ups/allocations, segregation and margin operations oversight)
  • Listed derivatives / OTC client clearing operations and clearing risk analyst (FCM)
  • Clearing (FCM/clearing broker) operations and clearing risk analyst — give-ups, margin, segregation

Canonical tasks

  • collect client margin against house ccp requirement
  • process give ups allocation average pricing before exchange give up deadline
  • reconcile clearing house position open interest against internal client record daily
  • allocate average price fill to client account
  • produce daily customer segregation secured amount cleared swap computation fund any shortfall
  • give up allocation processing trade clearing to correct client account
  • compute issue client margin call fund ccp margin by deadline
  • position transfer portability execution on client request
  • process client give ups allocation within cftc reg 1 73 pre execution credit screening framework
  • file large trader position report
  • reconcile give ups versus exchange clearing file
  • process give in give up trade against executing broker record
  • ccp margin call pass through client margin call issuance
  • perform daily segregation secured amount computation
  • process give ups allocation under tri party agreement
  • collect client margin equal to clearing house requirement
  • daily segregation secured amount computation
  • compute customer segregation cftc 1 20 part 22
  • meet ccp initial margin variation margin default fund call by deadline
  • reconcile position cash against ccp statement
  • reconcile house client position margin to each ccp s end day report
  • perform daily customer segregation calculation
  • perform daily customer segregation computation 1 20 1 30 part 22
  • collect client margin versus ccp requirement
Ma Advisory1 functions · 3 tasks

Functions

  • M&A advisers, valuation specialists and transaction-execution bankers

Canonical tasks

  • populate transaction comparable precedent transaction analyse
  • calculate consideration ownership accretion or dilution under agreed transaction term
  • track closing condition required approval
Macro Combined Rates Fx Em4 functions · 12 tasks

Functions

  • Rates, foreign-exchange and emerging-markets sales, trading and structuring
  • FX and emerging-markets salespeople, spot and derivatives traders, local-markets traders and structurers
  • FX and emerging markets trader
  • EM FX Trader

Canonical tasks

  • submit a reportable swap
  • em sovereign risk limit check
  • calculate spot forward cross currency price
  • validate em forward point against interest rate parity
  • test position against currency country counterparty limit
  • spot fx execution
  • validate settlement instruction currency amount
  • instantiate an fx swap to fund an interbank currency position
  • price an ndf for a corporate hedging em currency risk
  • price a client interest rate swap or fx forward
  • cross currency basis swap pricing
  • calculate execute a hedge
Market Risk Management4 functions · 16 tasks

Functions

  • Market risk manager (VaR/ES production, limit monitoring, stress testing for trading books)
  • Market risk manager / risk analytics quant (limits, VaR, stress, FRTB desk-level capital)
  • Market risk manager / risk analytics specialist covering trading desks
  • Market risk manager / risk analytics (VaR, stress testing, limits, FRTB implementation)

Canonical tasks

  • maintain risk factor eligibility test rfet determination for modellable vs non modellable risk factor
  • daily var backtesting exception identification classification
  • perform frtb p l attribution test per trading determine model eligibility
  • backtest var against actual hypothetical p l
  • p l attribution test plat computation per trading under frtb
  • identify escalate close limit breach within policy sla
  • run daily var backtesting against hypothetical actual p l classify exception
  • monitor trading limit escalate breach
  • perform quarterly level pla test spearman correlation ks statistic
  • limit breach escalation remediation tracking
  • run regulatory internal stress scenario
  • monitor escalate trading limit excess var stress sensitivity concentration
  • produce regulatory market risk capital figure for reporting date
  • risk factor eligibility test rfet evidence collection
  • produce daily var expected shortfall using approved model
  • run daily var backtesting classify exception against basel traffic light zone
Market Risk Valuation Control4 functions · 12 tasks

Functions

  • Market-risk managers, product controllers, valuation-control specialists and XVA traders
  • Valuation control, product control & model risk (product controllers, valuation reviewers, model validators)
  • Market-risk managers, product controllers, valuation-control specialists and capital analysts
  • Market-risk managers, valuation-control specialists, product controllers and desk-finance officers

Canonical tasks

  • independently verify trading book price
  • reconcile explain daily profit loss
  • clear unmatched trade to book by t 1
  • gate model change before production deployment
  • calculate risk measure test limit
  • perform independent price verification level 3 mark
  • calculate daily market risk measure
  • produce explain daily trading profit loss
  • perform independent price verification valuation adjustment
  • perform independent price verification
  • reconcile daily profit loss
  • calculate monitor market risk limit
Model Risk Management1 functions · 4 tasks

Functions

  • Model validation quant / model risk manager covering pricing, VaR, XVA and margin models

Canonical tasks

  • test model calibration stability perform outcome analysis backtesting for risk model
  • maintain model inventory with tiering ownership validation due date
  • independently re implement a pricing model benchmark output against front office library across a test portfolio
  • validate annual simm margin model performance back test against realised p l mof
Municipal Public Finance1 functions · 3 tasks

Functions

  • Municipal securities trader and underwriter (tax-exempt and taxable munis)

Canonical tasks

  • report muni trade to msrb rtr within 15 minute
  • verify continuing disclosure undertaking before underwriting
  • document fair pricing versus comparable trade
Prime Brokerage Financing15 functions · 54 tasks

Functions

  • Prime brokerage, securities lending, repo, synthetic financing and cross-asset collateral management
  • Prime brokerage margin and client financing coverage specialist
  • Prime Brokerage Operations Analyst
  • Prime brokerage margin and financing risk manager
  • Prime brokerage financing / stock loan / repo trader
  • Prime brokerage (PB financing traders, margin/lending officers serving hedge fund clients)
  • Prime services financing trader and client margin manager (synthetic financing, stock loan, margin)
  • Prime brokerage margin and risk operations specialist
  • Prime brokerage financing, margin and securities lending staff (margin analysts, stock loan traders, client financing service)
  • Repo/stock-loan trader, prime brokerage client service and margin/risk analyst
  • Prime Brokerage Operations Manager
  • Prime-brokerage coverage, margin and stock-loan professionals, repo traders and collateral-financing specialists
  • Prime brokerage risk/margin analyst, stock loan trader and client service (financing) specialist
  • Prime services risk/margin analyst, stock loan trader and client financing (delta one / synthetic) desk
  • Prime-brokerage coverage, margin, stock-loan, synthetic-financing and portfolio-financing specialists

Canonical tasks

  • reconcile stock loan or repo economic
  • compute collect daily client margin
  • compute reg t house margin for hedge fund portfolio
  • weekly daily 15c3 3 reserve formula computation segregation deposit
  • manage settlement fail under csdr
  • verify rehypothecation client asset stay within contractual regulatory cap
  • compute customer reserve formula fund withdraw from special reserve bank account on required day
  • allocate collateral
  • confirm rehypothecation eligibility client collateral against master agreement
  • compute overnight client margin requirement under agreed margin methodology issue call
  • prepare customer reserve formula computation fund special reserve bank account
  • execute reg sho close out buy ins for client fail
  • validate client eligibility for rehypothecation collateral
  • perform weekly daily customer reserve computation
  • allocate hard to borrow inventory rate against locate request
  • compute client financing charge
  • match security lend borrow request
  • sftr 10c 1a reporting new modified financing transaction
  • compute daily client margin under house finra or portfolio margining rule
  • calculate a client margin requirement
  • p l attribution settlement
  • reconcile client position corporate action
  • rehypothecation eligibility trace
  • calculate margin call amount from client position prime brokerage agreement
  • verify short sale availability against borrow locate reg sho close out rule
  • process stock loan recall return
  • process margin call
  • rerate rebate stock loan position reconcile lending revenue split with client
  • process stock loan recall locate to deadline
  • security lending reconciliation
  • corporate action processing
  • allocate substitute eligible collateral
  • daily margin call calculation
  • calculate client portfolio margin
  • bill financing spread stock loan fee per contractual rate schedule
  • reconcile corporate action payout
  • report sft under sftr
  • execute reg sho close out for fail
  • calculate stock loan or repo accrual
  • calculate initial variation margin
  • stock loan recall rerate processing on a hard to borrow name
  • daily margin call computation issuance for prime brokerage account
  • compute daily client margin under house regulatory schedule
  • margin call processing
  • process stock loan recall before record date
  • perform weekly rule 15c3 3 customer reserve computation
  • security lending rebate calculation
  • financing fee computation
  • margin call calculation
  • locate borrow security to cover client short sale
  • resolve an aged fail to deliver on a client short sale
  • calculate a client portfolio margin call under house methodology
  • issue collect a house reg margin call under client s margin agreement
  • maintain daily possession or control under 15c3 3
Product Control Ipv4 functions · 16 tasks

Functions

  • Product controller / independent price verification and valuation control analyst
  • Product controller / valuation control (IPV) analyst for markets businesses
  • Product controller / valuation control (IPV, P&L attribution, prudent valuation AVA)
  • Product controller / valuation control analyst (daily P&L, IPV, valuation adjustments)

Canonical tasks

  • produce sign off daily p l reconciling flash to actual to general ledger
  • monthly independent price verification mark against external source
  • compute additional valuation adjustment market price uncertainty close out cost model risk under prudent valuation rts
  • calculate prudent valuation additional valuation adjustment at reporting date
  • perform monthly independent price verification against external source book valuation adjustment
  • assign fair value hierarchy level transfer for reported position each quarter
  • perform independent price verification compute valuation adjustment
  • daily p l production flash to actual reconciliation explain
  • sign off daily p l with attribution unexplained p l within threshold
  • prudent valuation ava calculation for trading book
  • classify position into fair value hierarchy level
  • fair value hierarchy classification level transfer at reporting date
  • reconcile front office system to general ledger at month end
  • classify position in fair value hierarchy evidence level 3 input for disclosure
  • perform month end independent price verification against independent source book resulting valuation adjustment
  • produce explain daily p l against trader estimate
Rates Trading13 functions · 45 tasks

Functions

  • Rates trader and macro hedge strategist
  • Rates trading desk (traders and desk strategists pricing and hedging IRS, bonds, swaptions, inflation)
  • G10 rates market maker / interest rate derivatives trader
  • Rates flow trader (G10 government bonds, interest rate swaps and futures market making)
  • Rates market-maker / e-trading trader
  • Rates salespeople, government-bond and swap traders, options traders and rates structurers
  • Rates market maker / swaps and cash government bond trader (incl. eTrading pricing quant support)
  • Rates Sales & Trading Desk Head
  • Rates trader / market maker (government bonds, interest rate swaps, STIR futures, inflation)
  • Rates trader / market-maker
  • Rates market maker / trader (govvies, swaps, futures, inflation) plus desk quant support
  • Rates market-making trader and desk strat (cash govvies, swaps, futures, inflation)
  • Rates salespeople, government-bond and swap traders, options traders and desk strategists

Canonical tasks

  • quote client irs swaption package against model fair value
  • pass frtb level p l attribution test for quarter hypothetical vs risk theoretical p l
  • hedge an executed client swap block to within dv01 curve bucket tolerance before end day risk snapshot
  • yield curve volatility pricing
  • hedge residual interest rate risk via future bond swap
  • attribute daily p l to risk factor curve volatility basis sign off p l explain
  • set official end day mark for illiquid tenor
  • report executed swap to a swap data repository
  • book hedge an executed rate trade
  • attribute daily p l to market mof new trade
  • mark curf position for daily independent price verification
  • price a client rfq for a benchmark or off run bond consistent with firm s current inventory hedge cost mandated spread grid
  • price an interest rate swap or government bond package
  • hedge execution against a computed delta dv01 target after a client risk transfer
  • ensure each sef mtf executed cleared swap is accepted for clearing within required timeframe
  • book confirm an executed trade
  • meet ccp variation margin call on cleared rate portfolio
  • reconcile end day position p l to general ledger
  • verify book dv01 notional consumption against trader specific risk limit
  • timely regulatory trade reporting dissemination a reportable rate transaction
  • intraday limit breach remediation var dv01 bucket issuer concentration
  • value a structured rate option position for t 1 p l
  • validate executed rate trade term against electronic booking venue confirmation
  • price execute client rfq in irs bond at quoted level
  • submit clearing eligible interest rate swap to a ccp
  • end day risk p l attribution sign off for book
  • execute a client hedge against an agreed benchmark
  • confirm isda swap term against counterparty confirmation
  • two way price publication
  • client order execution
  • resolve intraday position var limit breach
  • yield curve calibration
  • market risk limit monitoring
  • hedge portfolio duration curve risk to approved limit
  • explain daily p l against risk sensitivity p l attribution unexplained residual
  • execute delta hedge after a client swap fill
  • submit primary auction new issue bid consistent with when issued pricing internal bid limit
  • hedge swap book delta risk via exchange traded future
  • price a bond swap or option from approved curve model
  • compute execute dv01 curve neutral hedge for day s risk transfer so close within delegated limit
  • price a g10 interest rate swap rfq for an asset manager
  • report executed irs swaption to a swap data repository
  • dv01 hedge calculation
  • submit primary dealer auction bid consistent with authorised bidding limit customer indication
  • reconcile daily rate profit loss
Regulatory Transaction Reporting3 functions · 12 tasks

Functions

  • Regulatory reporting operations and reporting-controls analyst (transaction, trade and position reporting across regimes)
  • Regulatory reporting operations analyst / reporting control specialist (transaction and position reporting across regimes)
  • Regulatory reporting operations / transaction reporting control analyst (onshore hubs)

Canonical tasks

  • pair match utis reconcile reported value under emir refit with counterparty trs
  • submit complete accurate mifir art 26 transaction report by close t 1 for all reportable execution
  • deliver cftc part 43 real time public report within applicable deadline including correct block cap treatment
  • remediate a reporting error population notify competent authority
  • generate pair unique transaction identifier validate counterparty leis before submission
  • real time public dissemination swap transaction within part 43 deadline
  • uti generation pairing matching under emir refit
  • field level accuracy testing rts 22 report against golden source data
  • submit transaction report for trading day clear all repository nca rejection
  • apply correct block cap deferral treatment publish post trade data on time
  • completeness reconciliation front office execution to submitted transaction report
  • perform completeness accuracy reconciliation between front office book reported data
Repo Secfin Collateral6 functions · 21 tasks

Functions

  • Repo and secured funding trader (bilateral, tri-party, gilt/US Treasury repo, collateral upgrade trades)
  • Repo and secured financing trader (Treasury repo, collateral upgrade trades, matched book)
  • Repo traders, securities-lending traders, collateral optimisers and balance-sheet managers
  • Repo / secured funding trader and collateral optimisation trader
  • Repo / secured funding trader and collateral trading (triparty, collateral optimisation) desk
  • Financing desk (repo, reverse repo, securities lending traders and collateral strategists)

Canonical tasks

  • process collateral substitution within contractual deadline
  • report sft to a trade repository with correct uti pairing collateral field
  • resolve settlement fail ahead csdr market penalty cut off
  • issue accurate variation margin call on repo position
  • issue daily margin call on repo portfolio per gmra term
  • adjudicate collateral substitution eligibility
  • manage settlement fail including buy in process
  • price a repo or security loan transaction
  • complete sftr lifecycle reporting for sft
  • apply contractual haircut margin repo position
  • manage triparty collateral substitution so that all allocation satisfy agreed eligibility schedule concentration limit
  • optimise collateral allocation cheapest to deliver across triparty bilateral obligation
  • report sft to a trade repository under sftr
  • classify a repo reverse repo correctly for lcr nsfr hqla level counterparty type residual maturity
  • process collateral substitution within cut off
  • manage settlement fail buy in exposure on term repo leg
  • report each sft to a trade repository by t 1 with a matching uti agreed collateral field
  • fund day s balance sheet at or inside internal fund transfer price while meeting lcr nsfr term profile
  • optimise collateral allocation subject to eligibility
  • calculate issue a margin call
  • reconcile tri party position with tri party agent
Securitised Products12 functions · 42 tasks

Functions

  • Mortgage, asset-backed, CLO and structured-credit traders, bankers and quantitative analysts
  • Securitised products trader / structurer (MBS, ABS, CLO)
  • Structured credit / securitised products trader
  • Securitised products trader/structurer (agency MBS and TBA, ABS, CLO, CMBS)
  • Mortgage, asset-backed, CLO and structured-credit traders, structurers, syndicate bankers and collateral analysts
  • Securitised products trader / structurer
  • Securitized products trader/structurer (agency MBS and TBA, ABS, CLO)
  • Mortgage-backed and asset-backed securities origination, structuring, trading and analytics
  • Securitised products trader and structuring specialist
  • Securitised products trader (agency pass-through/TBA, CMO, ABS, CLO) and collateral analytics specialist
  • Securitised products trader (agency/non-agency MBS, ABS, CLO) with structuring and collateral analyst support
  • Securitised products trader (agency MBS/TBA, ABS/CLO/CMBS) and securitised products structurer

Canonical tasks

  • validate pool factor against agency tape
  • calculate tranche balance factor investor distribution
  • rating agency stress scenario validation
  • run collateral stratification eligibility test
  • validate deal cash flow model against actual waterfall for first payment date
  • risk retention compliance check at pricing
  • confirm tranche isin original issue size against offering circular
  • evidence risk retention compliance for a sponsored deal at closing
  • tba pool allocation 48 hour day notification
  • article 7 transparency template reg ab asset level disclosure production for a sponsored deal
  • validate loan level collateral attribute against servicer data tape
  • compute collect variation margin on covered agency transaction per finra rule 4210
  • reconcile deal cash flow factor update to trustee remittance report for payment period
  • price a secondary rmb position against prepayment macro hedge
  • collateral eligibility check
  • allocate tba pool to counterparty by 48 hour notification deadline meeting good delivery guideline
  • settle tba trade per sifma good delivery guideline
  • construct a securitisation cash flow waterfall
  • reprice a clo abs bond using collateral tape cash flow waterfall model at month end
  • model a securitisation waterfall
  • collateral cash flow projection
  • cash flow model validation against monthly remittance servicer report
  • validate loan level data tape versus prospectus disclosure
  • recompute specified pool pay ups using factor prepayment data
  • verify 5 risk retention at securitization closing
  • allocate pool against tba delivery obligation under good delivery guideline on notification day
  • reconcile clo waterfall payment against indenture model
  • calculate a securitization waterfall
  • reconcile tranche factor payment
  • verify risk retention holding for originated deal
  • reconcile tranche waterfall payment allocation against trustee report
  • reconcile waterfall payment to trustee remittance report
  • evidence 5 risk retention at closing
  • validate a clo warehouse mark using trustee manager report
  • verify risk retention transparency compliance for a deal distribute into eu
  • reconcile tranche balance factor
  • settle tba trade via ficc mbs division
  • confirm a new securitisation position pass eligibility criteria
  • test collateral eligibility concentration limit
  • allocate tba pool per sifma good delivery guideline 48 hour notification
  • reconcile trustee waterfall payment to deal document
  • validate collateral eligibility concentration test
Sellside Research4 functions · 13 tasks

Functions

  • Equity, credit, macro and quantitative research analysts and publishing strategists
  • Sell-side research analyst
  • Equity, credit, macro, quantitative and strategy research analysts
  • Sell-side research analyst (equity and credit) and research supervisory analyst

Canonical tasks

  • publish a research report containing all required disclosure a regulation ac certification
  • run required conflict disclosure check
  • calculate index or quantitative strategy output
  • update a forecast model after a reported financial result
  • update a forecast model following reported result
  • update earning model submit revised estimate after issuer s result within committed period
  • verify disclosure conflict exception against reg ac firm policy
  • ensure a price target change is supported by documented valuation methodology stored with note
  • reconcile post earning estimate against company reported actual
  • enforce quiet period restricted list constraint for a covered issuer during an offering
  • verify required research disclosure
  • calculate valuation recommendation supporting metric
  • check recommendation price target against updated financial model
Trade Lifecycle Operations9 functions · 30 tasks

Functions

  • Trade support / middle office analyst (trade capture validation, confirmation and affirmation, lifecycle events)
  • Securities settlement operations analyst (instruction matching, fails management, penalties and claims)
  • Clearing and post-trade specialist
  • Trade support, confirmations, affirmations and settlements analyst (onshore plus offshore delivery centres)
  • Clearing Risk & Collateral Optimization Analyst
  • Post-Trade Reconciliation Analyst
  • Derivatives trade lifecycle and regulatory reporting analyst/manager (confirmations, lifecycle events, TR/ARM/SDR reporting)
  • Trade capture, confirmations, clearing, settlement, collateral, reconciliations and lifecycle operations
  • Trade-support, confirmation, settlement, collateral-operations and transaction-reporting specialists

Canonical tasks

  • same day affirmation institutional equity fixed income allocation under t 1
  • match confirm an executed trade
  • nostro depot reconciliation break clearing
  • settle cash security
  • trade matching confirmation
  • verify margin call against ccp statement client collateral record
  • settlement fail investigation resolution
  • submit required transaction report
  • match release settlement instruction against correct standing settlement instruction before market deadline
  • reconcile depot nostro position to custodian statement daily
  • confirm settlement finality against csd or swift finality notice
  • resolve inter system counterparty reconciliation break within sla
  • confirm uncleared otc derivatif within regulatory deadline
  • reconcile subledger to external general ledger balance
  • settlement instruction generation
  • issue match trade confirmation within regulatory timeline
  • perform periodic portfolio reconciliation with counterparty resolve valuation term difference
  • trade matching
  • validate correct trade capture exception economic static data booking model before end day
  • submit transaction report clear rejection
  • reconcile executed trade against ccp trade register
  • otc derivative confirmation matching against executed term
  • initial variation margin calculation
  • affirm allocate cash security trade by same day affirmation cut off
  • exception handling
  • investigate clear settlement fail before buy in penalty threshold
  • settle cash security obligation
  • reconcile allocate csdr cash penalty to internal book counterparty
  • process lifecycle event reset fixing exercise corporate action per contract definition
  • match confirm transaction economic
Trade Surveillance2 functions · 8 tasks

Functions

  • Trade and communications surveillance analyst and surveillance model tuning specialist
  • Trade and communications surveillance analyst / markets compliance officer

Canonical tasks

  • complete communication surveillance lexicon review off channel communication attestation
  • review dispose surveillance alert spoofing layering front running wash trading within review sla
  • communication capture completeness verification
  • file a suspicious transaction order report where escalation threshold is met
  • surveillance model parameter calibration coverage assessment
  • stor sar filing where suspicion is established
  • alert triage disposition for spoofing layering scenario
  • maintain restricted watch list test information barrier control against actual trading
Treasury Balance Sheet Funding1 functions · 3 tasks

Functions

  • Markets treasury & balance-sheet funding (treasury traders, funding strategists, FTP analysts)

Canonical tasks

  • maintain daily lcr compliance for market book
  • execute funding plan within cost target
  • publish internal fund transfer pricing curf
Xva Counterparty Risk8 functions · 30 tasks

Functions

  • XVA quant / trader
  • Counterparty analytics, margin optimization & XVA (XVA quants, margin strategists, collateral analysts)
  • XVA trader/quant (CVA, DVA, FVA computation and hedging; central valuation adjustment desk)
  • XVA trader and counterparty exposure quant (CVA/DVA/FVA/KVA hedging and pricing)
  • XVA trader/quant and counterparty portfolio manager (CVA/FVA/KVA hedging and pricing)
  • XVA trader / valuation adjustments quant
  • Counterparty credit risk officer (exposure measurement, limit setting, pre-deal checking for derivatives and SFT counterparties)
  • XVA trader / counterparty exposure quant and counterparty credit risk manager

Canonical tasks

  • identify escalate counterparty pfe limit excess within escalation sla
  • wrong way risk mapping
  • support ifr 13 asc 820 fair value adjustment disclosure
  • calculate cva regulatory capital
  • compute daily cva dva fva from exposure simulation market data
  • credit hedge execution against computed counterparty spread sensitivity
  • compute daily cva fva dva post to finance
  • execute cva hedge cds rate per mandate
  • monitor counterparty limit utilization escalate excess
  • apply correct netting collateral enforceability treatment to a new jurisdiction counterparty type
  • perform pre deal credit check against available limit
  • attribute xva hedge performance
  • compute sa ccr exposure at default for a netting set including collateral margin period risk input
  • collateral haircut calibration
  • resolve initial margin dispute against csa wgmr methodology
  • compute incremental xva charge quoted into a new trade verify it against realised portfolio xva move after booking
  • csa term ingestion validation for a newly executed netting agreement
  • revalue on counterparty rating event
  • trigger threshold mta governed collateral call correctly
  • cva charge computation
  • resolve initial margin model simm dispute with counterparty above dispute threshold
  • daily cva fva computation sensitivity generation across netting set universe
  • attribute xva p l to market factor hedge performance
  • attribute xva p l to market factor hedge
  • hedge cva credit delta with single name index cds within s mandate
  • validate sa ccr exposure amount cva capital charge feeding regulatory capital
  • attribute daily cva p l to credit spread market default component against sensitivity
  • compute counterparty exposure epe pfe under sa ccr
  • cva capital charge computation for regulatory reporting
  • identify report specific general wrong way risk

BOCG supplies public definitions. Finexhaust holds institutional instances and evaluation evidence. These mappings establish neither compliance nor certification.

Current capability surface · rubric projected onto BOCG

Where the evidence is, and who ratified it

Each tile is one released coverage primitive of BOCG v0.6.2. Tile colour advances only on ratified evidence: from vocabulary, to candidate mappings (shown, never counted), to owner-ratified Episode evidence, to a ratified task, to a measured model deficit on that task.

Candidate mappings come from lexicon and ontology proposals and are displayed as candidates only. Nothing below an owner or SME ruling counts as coverage, supports an SKU, or authorises an eval or rubric build. Counts are partitioned by source profile so that no institution's evidence is silently pooled with another's.

Evidence ledger: BOCG v0.3.0. Current catalogue: v0.6.2. Compatibility is verified from identical coverage-matrix bytes; past rulings retain their original release binding.

42/42released primitives projected
69Episode records in the evidence ledger
10primitives with ratified evidence
20primitives with candidates only
122 records
25 records
13 records
18Episodes retained without a significance mapping
5Episode summaries awaiting source correction
EvidenceMapped onlyCandidates (not counted)Ratified Episode evidenceRatified taskMeasured model deficit
Vendors05
candidate episode mappingBuyside Investment Compliance2 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface4 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Candidates by source profile (not counted)2

Candidate receipts (shown, not counted)ep-d1f7a4178d3flexicalep-c7ecccfb6c55lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

ratified episode evidenceBuyside Investment Operations1 ratified · 7 candidate

Evidence chainBOCG v0.6.2 → 1 ratified Episode mapping → 0 ratified tasks → 0 measured

Released binding surface7 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Ratified by source profile1

Candidates by source profile (not counted)7

Rulings preserved1 rejected · 0 deferred

Deferred and rejected receiptsep-5b36c3cf4c3frejected

Ratified Episode receiptsep-35f4f3c650dbqualifiedno released binding yet

Candidate receipts (shown, not counted)ep-e4ef3f320de2lexicalep-f85b563dc25flexicalep-d1f7a4178d3flexicalep-a0422483cf7blexicalep-803acc3afcf0lexicalep-cdcf1fcafb73lexicalep-c7ecccfb6c55lexical

mapped onlyBuyside LDI OverlayNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface4 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Rulings preserved0 rejected · 1 deferred

Deferred and rejected receiptsep-809f543d075adeferred

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingBuyside Performance Risk Reporting5 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface4 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Candidates by source profile (not counted)5

Rulings preserved6 rejected · 0 deferred

Deferred and rejected receiptsep-879ead7f9542rejectedep-492944c0a778rejectedep-fac89cbcbdc2rejectedep-1a99aa27e757rejectedep-7d7d85832429rejectedep-b187a2047913rejected

Candidate receipts (shown, not counted)ep-c721e4aec245lexicalep-10dd9254f2a2lexicalep-a1a164af56f3lexicalep-38623105fc33lexicalep-47ea021cd3a7lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingBuy-side portfolio management9 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface24 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 1.00 · Anthropic 0.00 · DeepSeek 0.00 · Moonshot 0.67 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)9

Rulings preserved3 rejected · 1 deferred

Deferred and rejected receiptsep-0e54b9240435rejectedep-35f4f3c650dbrejectedep-b0d631c496d8rejectedep-55cae80f0b6cdeferred

Candidate receipts (shown, not counted)ep-a5e133bf3e3blexicalep-4d2102bdd658lexicalep-c721e4aec245lexicalep-e4ef3f320de2lexicalep-54e572ccb554lexicalep-b4259da48cc8lexicalep-f9e417f355e0lexicalep-e3c4f8f9b456lexicalep-535ed66e02c5lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingBuy-side trading & execution6 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface39 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 1.00 · Anthropic 1.00 · DeepSeek 0.00 · Moonshot 1.00 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)6

Candidate receipts (shown, not counted)ep-9a4cdf0acb6clexicalep-e4ef3f320de2lexicalep-d1f7a4178d3flexicalep-b4259da48cc8lexicalep-bae4d9434967lexicalep-e3c4f8f9b456lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingCapital markets origination2 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface16 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.67 · Anthropic 0.33 · DeepSeek 0.00 · Moonshot 0.33 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)2

Candidate receipts (shown, not counted)ep-3205a4c9a0a2lexicalep-38623105fc33lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingClient Lifecycle KYC5 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface4 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Candidates by source profile (not counted)5

Rulings preserved1 rejected · 0 deferred

Deferred and rejected receiptsep-0e54b9240435rejected

Candidate receipts (shown, not counted)ep-b4259da48cc8lexicalep-5f3dcc195bbclexicalep-44d4930b0ea6lexicalep-1d324296e084lexicalep-47ea021cd3a7lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

ratified episode evidenceCollateral & margin management1 ratified · 0 candidate

Evidence chainBOCG v0.6.2 → 1 ratified Episode mapping → 0 ratified tasks → 0 measured

Released binding surface16 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 1.00 · DeepSeek 0.00 · Moonshot 0.33 · Qwen 0.00 · weak tier

Ratified by source profile1

Rulings preserved0 rejected · 1 deferred

Deferred and rejected receiptsep-55cae80f0b6cdeferred

Ratified Episode receiptsep-6e7926c8c378qualifiedno released binding yet

mapped onlyCommodities Physical OperationsNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface4 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Current gapNo owner-ratified Episode mapping; candidates never count.

mapped onlyCommodities tradingNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface40 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 1.00 · Anthropic 0.67 · DeepSeek 1.00 · Moonshot 1.00 · Qwen 0.00 · moderate tier

Current gapNo owner-ratified Episode mapping; candidates never count.

ratified taskCredit trading1 ratified · 1 candidate

Evidence chainBOCG v0.6.2 → 1 ratified Episode mapping → 1 ratified task → 0 measured

Released binding surface44 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 1.00 · Anthropic 1.00 · DeepSeek 1.00 · Moonshot 1.00 · Qwen 0.00 · moderate tier

Ratified by source profile1

Candidates by source profile (not counted)1

Rulings preserved1 rejected · 0 deferred

Deferred and rejected receiptsep-b187a2047913rejected

Ratified Episode receiptsep-879ead7f9542qualifiedprice a cash bond or credit derivative

Candidate receipts (shown, not counted)ep-a0422483cf7blexical

PROPOSED-SKU-401 · ratified tasktp_aa36bf63cadc

SKU candidatesPROPOSED-SKU-401

mapped onlyCross-asset structuringNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface9 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.33 · Anthropic 0.00 · DeepSeek 0.67 · Moonshot 0.00 · Qwen 0.00 · weak tier

Current gapNo owner-ratified Episode mapping; candidates never count.

mapped onlyCustody & asset servicingNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface8 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 0.67 · DeepSeek 0.00 · Moonshot 0.00 · Qwen 0.00 · weak tier

Current gapNo owner-ratified Episode mapping; candidates never count.

mapped onlyDCM originationNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface21 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.33 · Anthropic 0.67 · DeepSeek 0.67 · Moonshot 0.33 · Qwen 0.00 · weak tier

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingECM origination3 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface17 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.33 · Anthropic 0.33 · DeepSeek 0.67 · Moonshot 0.33 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)3

Rulings preserved2 rejected · 0 deferred

Deferred and rejected receiptsep-eb0566f0899drejectedep-92bcff13b5c8rejected

Candidate receipts (shown, not counted)ep-3205a4c9a0a2lexicalep-a1a164af56f3lexicalep-38623105fc33lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingElectronic Execution1 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface10 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Candidates by source profile (not counted)1

Candidate receipts (shown, not counted)ep-e3c4f8f9b456lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingEmerging markets trading1 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface18 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 0.00 · DeepSeek 0.67 · Moonshot 1.00 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)1

Candidate receipts (shown, not counted)ep-a1a164af56f3lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingEquities trading2 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface50 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 1.00 · Anthropic 1.00 · DeepSeek 1.00 · Moonshot 1.00 · Qwen 0.67 · moderate tier

Candidates by source profile (not counted)2

Rulings preserved0 rejected · 1 deferred

Deferred and rejected receiptsep-809f543d075adeferred

Candidate receipts (shown, not counted)ep-10dd9254f2a2lexicalep-47ea021cd3a7lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingEquity derivatives & structured1 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface24 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 1.00 · DeepSeek 0.00 · Moonshot 1.00 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)1

Candidate receipts (shown, not counted)ep-3205a4c9a0a2lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

mapped onlyFICC (combined)No evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface6 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 0.00 · DeepSeek 0.00 · Moonshot 0.00 · Qwen 0.67 · weak tier

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingFX trading11 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface39 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.33 · Anthropic 1.00 · DeepSeek 0.67 · Moonshot 1.00 · Qwen 0.33 · weak tier

Candidates by source profile (not counted)11

Rulings preserved3 rejected · 0 deferred

Deferred and rejected receiptsep-73d0298ebcf8rejectedep-6e7926c8c378rejectedep-26df4ea7ff06rejected

Candidate receipts (shown, not counted)ep-9a4cdf0acb6clexicalep-4d2102bdd658lexicalep-c721e4aec245lexicalep-2aff03025f42lexicalep-5f3dcc195bbclexicalep-c78bff3c8433lexicalep-415fd55f4047lexicalep-535ed66e02c5lexicalep-cdcf1fcafb73lexicalep-54e12622c53dlexicalep-8aa0728ace30lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingInstitutional sales coverage2 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface6 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 0.00 · DeepSeek 0.67 · Moonshot 0.00 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)2

Candidate receipts (shown, not counted)ep-803acc3afcf0lexicalep-1d324296e084lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

mapped onlyLeveraged Finance Loan Capital MarketsNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface4 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingListed derivatives client clearing1 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface24 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 1.00 · DeepSeek 0.00 · Moonshot 1.00 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)1

Rulings preserved1 rejected · 0 deferred

Deferred and rejected receiptsep-a8bc8e087a39rejected

Candidate receipts (shown, not counted)ep-1d324296e084lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

mapped onlyM&A AdvisoryNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface3 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingMacro (rates/FX/EM combined)2 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface12 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.67 · Anthropic 0.00 · DeepSeek 0.33 · Moonshot 0.00 · Qwen 0.33 · weak tier

Candidates by source profile (not counted)2

Rulings preserved1 rejected · 0 deferred

Deferred and rejected receiptsep-a8bc8e087a39rejected

Candidate receipts (shown, not counted)ep-c78bff3c8433lexicalep-535ed66e02c5lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

ratified taskMarket risk management1 ratified · 0 candidate

Evidence chainBOCG v0.6.2 → 1 ratified Episode mapping → 1 ratified task → 0 measured

Released binding surface16 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 1.00 · DeepSeek 0.00 · Moonshot 0.33 · Qwen 0.00 · weak tier

Ratified by source profile1

Rulings preserved5 rejected · 0 deferred

Deferred and rejected receiptsep-492944c0a778rejectedep-a8bc8e087a39rejectedep-1a99aa27e757rejectedep-7d7d85832429rejectedep-b187a2047913rejected

Ratified Episode receiptsep-f304ed77d58dqualifiedproduce daily var expected shortfall using approved model

PROPOSED-SKU-402 · ratified tasktp_867ed76cefec

SKU candidatesPROPOSED-SKU-402

ratified taskMarket risk & valuation control5 ratified · 1 candidate

Evidence chainBOCG v0.6.2 → 5 ratified Episode mappings → 5 ratified tasks → 0 measured

Released binding surface12 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 1.00 · Anthropic 0.00 · DeepSeek 0.00 · Moonshot 0.00 · Qwen 0.00 · weak tier

Ratified by source profile5

Candidates by source profile (not counted)1

Rulings preserved2 rejected · 6 deferred

Deferred and rejected receiptsep-f304ed77d58drejectedep-7d7d85832429rejectedep-7ce3a57c84e3deferredsource correction pendingep-2642f0c6f012deferredsource correction pendingep-30e5f94401ebdeferredsource correction pendingep-094febc7b9eedeferredsource correction pendingep-0aa38bfb1452deferredep-8f870687ba6adeferred

Ratified Episode receiptsep-492944c0a778qualifiedgate model change before production deploymentep-1a99aa27e757qualifiedgate model change before production deploymentep-a8bc8e087a39qualifiedgate model change before production deploymentep-fac89cbcbdc2qualifiedcalculate daily market risk measureep-b187a2047913qualifiedcalculate daily market risk measure

Candidate receipts (shown, not counted)ep-44d4930b0ea6lexical

PROPOSED-SKU-403 · ratified tasktp_ac52146bbcc3

PROPOSED-SKU-403 · ratified tasktp_6f344aca5dd4

PROPOSED-SKU-403 · ratified tasktp_eae00841210b

PROPOSED-SKU-402 · ratified tasktp_f8352b9cd454

PROPOSED-SKU-402 · ratified tasktp_45c5020b8c7f

SKU candidatesPROPOSED-SKU-402 · PROPOSED-SKU-403

mapped onlyModel Risk ManagementNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface4 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Rulings preserved3 rejected · 0 deferred

Deferred and rejected receiptsep-9324ce618d7crejectedep-879ead7f9542rejectedep-fac89cbcbdc2rejected

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingMunicipal Public Finance1 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface3 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Candidates by source profile (not counted)1

Candidate receipts (shown, not counted)ep-803acc3afcf0lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

ratified episode evidencePrime brokerage & client financing2 ratified · 0 candidate

Evidence chainBOCG v0.6.2 → 2 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface54 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 1.00 · Anthropic 1.00 · DeepSeek 1.00 · Moonshot 1.00 · Qwen 1.00 · moderate tier

Ratified by source profile2

Rulings preserved0 rejected · 2 deferred

Deferred and rejected receiptsep-55cae80f0b6cdeferredep-809f543d075adeferred

Ratified Episode receiptsep-6e7926c8c378qualifiedno released binding yetep-26df4ea7ff06qualifiedno released binding yet

Audit only: measured on tasks not yet ratifiedFD-1197 BARE 19/20, DOCTRINE 20/20, RAW 16/20 n/a · FD-2833 UNION_PACK_FIRST minus RAG_2X 0.2 · FD-2833 UNION_PACK_FIRST minus WRONG_LOCUS_UNION 0.3056 · FD-2833 DOCTRINE minus BARE (descriptive) 0.454

SKU candidatesFD-1197 · FD-2833

candidate episode mappingProduct control & IPV2 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface16 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 1.00 · DeepSeek 0.00 · Moonshot 0.33 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)2

Candidate receipts (shown, not counted)ep-54e572ccb554lexicalep-44d4930b0ea6lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingRates trading8 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface45 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.67 · Anthropic 1.00 · DeepSeek 1.00 · Moonshot 1.00 · Qwen 0.33 · moderate tier

Candidates by source profile (not counted)8

Rulings preserved2 rejected · 0 deferred

Deferred and rejected receiptsep-73d0298ebcf8rejectedep-26df4ea7ff06rejected

Candidate receipts (shown, not counted)ep-9a4cdf0acb6clexicalep-4d2102bdd658lexicalep-2aff03025f42lexicalep-5f3dcc195bbclexicalep-415fd55f4047lexicalep-cdcf1fcafb73lexicalep-54e12622c53dlexicalep-8aa0728ace30lexical

Current gapNo owner-ratified Episode mapping; candidates never count.

ratified episode evidenceRegulatory transaction reporting2 ratified · 1 candidate

Evidence chainBOCG v0.6.2 → 2 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface12 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 1.00 · DeepSeek 0.00 · Moonshot 0.00 · Qwen 0.00 · weak tier

Ratified by source profile2

Candidates by source profile (not counted)1

Rulings preserved1 rejected · 0 deferred

Deferred and rejected receiptsep-9324ce618d7crejected

Ratified Episode receiptsep-eb0566f0899dqualifiedno released binding yetep-92bcff13b5c8qualifiedno released binding yet

Candidate receipts (shown, not counted)ep-10dd9254f2a2lexical

ratified episode evidenceRepo & securities financing2 ratified · 0 candidate

Evidence chainBOCG v0.6.2 → 2 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface21 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.33 · Anthropic 0.67 · DeepSeek 0.00 · Moonshot 0.67 · Qwen 0.00 · weak tier

Ratified by source profile2

Ratified Episode receiptsep-73d0298ebcf8qualifiedno released binding yetep-b0d631c496d8qualifiedno released binding yet

Audit only: measured on tasks not yet ratifiedFD-2833 UNION_PACK_FIRST minus RAG_2X 0.2 · FD-2833 UNION_PACK_FIRST minus WRONG_LOCUS_UNION 0.3056 · FD-2833 DOCTRINE minus BARE (descriptive) 0.454

SKU candidatesFD-2833

mapped onlySecuritised productsNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface42 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 1.00 · Anthropic 1.00 · DeepSeek 1.00 · Moonshot 1.00 · Qwen 0.00 · moderate tier

Current gapNo owner-ratified Episode mapping; candidates never count.

candidate episode mappingSell-side research1 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface13 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.67 · Anthropic 0.33 · DeepSeek 0.33 · Moonshot 0.00 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)1

Candidate receipts (shown, not counted)ep-a5e133bf3e3blexical

Current gapNo owner-ratified Episode mapping; candidates never count.

ratified episode evidenceTrade lifecycle operations6 ratified · 2 candidate

Evidence chainBOCG v0.6.2 → 6 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface30 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.67 · Anthropic 0.67 · DeepSeek 0.33 · Moonshot 0.33 · Qwen 0.67 · weak tier

Ratified by source profile6

Candidates by source profile (not counted)2

Rulings preserved2 rejected · 1 deferred

Deferred and rejected receiptsep-5b36c3cf4c3frejectedep-708e2317ddc4rejectedsource correction pendingep-b323a337107edeferred

Ratified Episode receiptsep-0e54b9240435qualifiedno released binding yetep-35f4f3c650dbqualifiedno released binding yetep-23c427505a14ratifiedno released binding yetep-9324ce618d7cqualifiedno released binding yetep-eb0566f0899dqualifiedno released binding yetep-92bcff13b5c8qualifiedno released binding yet

Candidate receipts (shown, not counted)ep-6eaffba8c160lexicalep-f85b563dc25flexical

Audit only: measured on tasks not yet ratifiedFD-1197 BARE 19/20, DOCTRINE 20/20, RAW 16/20 n/a · FD-1162 UNION_PACK_FIRST minus RAG_2X 0.0417 · FD-1162 UNION_PACK_FIRST minus WRONG_LOCUS_UNION 0.1319 · FD-1162 DOCTRINE minus BARE (descriptive) 0.454

SKU candidatesFD-1162 · FD-1197

mapped onlyTrade surveillanceNo evidence yet

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface8 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 0.67 · DeepSeek 0.00 · Moonshot 0.00 · Qwen 0.00 · weak tier

Current gapNo owner-ratified Episode mapping; candidates never count.

ratified episode evidenceTreasury Balance Sheet Funding1 ratified · 5 candidate

Evidence chainBOCG v0.6.2 → 1 ratified Episode mapping → 0 ratified tasks → 0 measured

Released binding surface3 terminality tasks in the release; no curated control point in v0.6.2

Model consensusNot named in the admitted consensus board

Ratified by source profile1

Candidates by source profile (not counted)5

Ratified Episode receiptsep-b0d631c496d8qualifiedno released binding yet

Candidate receipts (shown, not counted)ep-a0422483cf7blexicalep-e40cd14e85e5lexicalep-415fd55f4047lexicalep-8aa0728ace30lexicalep-c7ecccfb6c55lexical

candidate episode mappingXVA & counterparty risk3 candidate, none ratified

Evidence chainBOCG v0.6.2 → 0 ratified Episode mappings → 0 ratified tasks → 0 measured

Released binding surface30 terminality tasks in the release; no curated control point in v0.6.2

Model consensusOpenAI 0.00 · Anthropic 1.00 · DeepSeek 0.33 · Moonshot 1.00 · Qwen 0.00 · weak tier

Candidates by source profile (not counted)3

Candidate receipts (shown, not counted)ep-a5e133bf3e3blexicalep-d0354e74a3e8lexicalep-96ca6675a8fclexical

Current gapNo owner-ratified Episode mapping; candidates never count.

Unmapped audit receipts (18)

Retained without a significance mappingep-2ed4ea44c91aep-db380fb691d7ep-e14eca188e21ep-cba54510857cep-91ceb9ec0173ep-b357cb3d6de8ep-3ed599d35542ep-0fbe103df718ep-3d9c431d59c9ep-59bb6ef64466ep-8ca8759137efep-e1bd3f52c7fbep-4b049d4bf964ep-4f7ab4a077ddep-6aad2703b159ep-57cb0cbafe0bep-7d7d85832429ep-11d122264e3f

Select any tile for its combined evidence and model-consensus receipt. Vendor support counts a model family when its valid-sample fraction is at least 0.50. Prompt efd90b74 · aliases 61025b9f · 2026-08-26. Coverage semantics: candidates are displayed, never counted as evidence; only owner or SME ratified ACCEPT/QUALIFY mappings are evidence coverage; rejected and deferred preserved; measured deficit only on ratified tasks with receipts. Explicit status: no model training claim.

Public-eval overlay · SPEC-09

Where public evals already test this work

The same 42 admitted divisions, painted only by third-party public rubrics, benchmarks and evals. Each mapping carries a likelihood band (low, medium, high), a named matching rule, a rationale and a dated ruling. Saturation is the sum of band weights under a division; a division with none is a void.

This is a supplement, not a validation of the grid, and a void is not a claim that the work is under-served. BOCG's own control-point cells, their citations and its own rubrics never paint: they are listed below for audit and excluded by rule.

1/42divisions touched by a public eval
41voids · no public eval ruled in
1painted mappings · max saturation 1
6inventory items ruled · 3 rejected
SaturationVoidLow · L1 = 1Medium · L2 = 2High · L3 = 3
Tierpanel consensus, shown beside, never mixed in
weak tier · autoBuy-side investment complianceVoid
weak tier · autoBuy-side investment operationsVoid
weak tier · autoBuy-side LDI & overlayVoid
weak tier · autoBuy-side performance & risk reportingVoid
weak tier · autoBuy-side portfolio managementVoid
weak tier · autoBuy-side trading & executionVoid
weak tier · autoCapital markets originationVoid
weak tier · autoClient lifecycle & KYCVoid
weak tier · autoCollateral & margin managementVoid
weak tier · autocommodities physical operationsVoid
moderate tier · autoCommodities tradingVoid
moderate tier · autoCredit tradingVoid
weak tier · autoCross-asset structuringVoid
weak tier · autoCustody & asset servicingVoid
weak tier · autoDCM originationVoid
weak tier · autoECM originationVoid
weak tier · autoElectronic executionVoid
weak tier · autoEmerging markets tradingVoid
moderate tier · autoEquities tradingVoid
weak tier · autoEquity derivatives & structuredVoid
weak tier · autoFICC (combined)Void
weak tier · autoFX tradingVoid
weak tier · autoInstitutional sales coverageVoid
weak tier · autoleveraged finance loan capital marketsVoid
weak tier · autoListed derivatives client clearingVoid
weak tier · automa advisoryVoid
weak tier · autoMacro (rates/FX/EM combined)Void
weak tier · autoMarket risk managementVoid
weak tier · autoMarket risk & valuation controlVoid
weak tier · autoModel risk managementVoid
weak tier · autoMunicipal & public financeVoid
moderate tier · reviewedPrime brokerage & client financingVoid
weak tier · autoProduct control & IPVVoid
moderate tier · autoRates tradingVoid
weak tier · autoRegulatory transaction reportingVoid
weak tier · autoRepo & securities financingVoid
moderate tier · autoSecuritised productsVoid
weak tier · autoSell-side researchVoid
weak tier · autoTrade lifecycle operationsSaturation 1 · Harvey LAB task format
weak tier · autoTrade surveillanceVoid
weak tier · autoTreasury & balance-sheet fundingVoid
weak tier · autoXVA & counterparty riskVoid
Inventory rulings · what may paint and what may notinventory v1.3.0 · sha d88223dcrules v1.5.0
Public artifactClassRulingRule · bandRationale
Harvey LAB task format (documents + task.json match-criteria rubrics)peer task shapequalifiedpaintsR-PEER-SHAPEL1 · Division · Trade lifecycle operationsCONFORMANCE.md records two banking tasks accepted in the Harvey LAB schema. Public peer task-shape only; content loci are not republished here, so mapping stays division-grain L1. This is not BOCG cell coverage.ruled 2026-09-25 · owner
BOCG episode-feasibility rubric (own artifact; audit only)own rubricown artifactdeferreddoes not paintR-REJECTIn-repo BOCG episode-feasibility rubric. Own artifact; excluded from public-eval saturation by channel=own_artifact.no ruling · audit listing only
BOCG five-families adjudication rubric (own artifact; audit only)own rubricown artifactdeferreddoes not paintR-REJECTIn-repo BOCG rubric. Own coverage/adjudication artifact; excluded from public-eval saturation by channel=own_artifact.no ruling · audit listing only
BetterBench benchmark-assessment criteria (46 criteria)peer frameworkrejecteddoes not paintR-PEER-SHAPEBetterBench assesses benchmark-design criteria. It is not a capital-markets operational eval and does not exercise an admitted BOCG division.ruled 2026-09-25 · owner
Datasheets for Datasets (Gebru et al., v8)peer frameworkrejecteddoes not paintR-PEER-SHAPEDatasheets for Datasets documents datasets; it is not a public banking-ops rubric, benchmark or eval on the BOCG surface.ruled 2026-09-25 · owner
Inspect evaluation framework (UK AI Security Institute)peer frameworkrejecteddoes not paintR-PEER-SHAPEInspect is an evaluation harness. Without a published banking-ops task bound to an admitted division key, it does not paint public-eval saturation.ruled 2026-09-25 · owner

Read from BOCG v0.6.2 (manifest 67f491ec); the map is bound to task concepts 92f823ba, first cut at v0.6.2 and carried unchanged. Before this page was generated the overlay was re-checked here, not taken on trust: S9-G1 schema, inventory digest, task-concept digest, paint rule, roll-up recomputed. Normative source: specs/SPEC-09-public-eval-surface-overlay.md. Generated 2026-10-16.

Status

Provisional. Do not cite.

Nine of ten release gates pass. The tenth does not: no anchor in this run has been checked by hand against an actual filing, rulebook or published series, so every citation underneath the board is a model's assertion and nothing more. That is stated here rather than discovered later.

What is released: the grid's semantic contract — v0.3.0, a content-addressed manifest (sha dce3dd85) binding the specs, vocabulary and this run's artifacts. The vocabulary downstream systems consume is pinned to that release; the elicitation itself stays provisional until the anchor gate closes.

G1ContaminationPASS

G2SchemaPASS

G3Anchor orderingPASS

G4Rejections presentPASS

G5Admission recomputePASS

G6Anchor corroborationFAIL

G7Alias tablePASS

G8No self-assessmentPASS

G9ReproducibilityPASS

G10Panel widthPASS

02 · The panel, and what was kept off it

1 / 3 valid

x-preview-f-free

Two samples emitted the division name before its anchors — the ordering rule exists to catch exactly that.

0 / 3 valid

gemma-4-31b

All three samples failed the same ordering rule: named first, justified afterwards.

0 / 3 valid

glm-5.2

Transport, not judgement — one truncation at the token ceiling, two empty streams from the gateway.

A model cannot be dropped quietly: the panel gate refuses to ignore one unless it is declared with a written reason, and the excluded models' raw responses are published with the rest. Two of the three failed on merit — they named a division first and produced its justification afterwards, which is the backwards-reasoning the ordering rule exists to catch.

03 · Operations desk

01

Trade lifecycle

Capture through confirmation, every state transition receipted.

02

Booking & allocations

Block-to-account splits under allocation contracts.

03

Reconciliation

Ledger-to-ledger breaks investigated to closure.

04

Collateral & margin

Calls issued, disputed, resolved against agreements.

05

Settlement exceptions

Fails chased across depots and deadlines.

06

Permissions & release

Four-eyes approvals; nothing self-released.

07

Temporal causality

Every action ordered against what was knowable when.

08

Evidence sufficiency

Claims stand only on retrievable, versioned evidence.

04 · Why Meridian exists

Somewhere consequences can't reach

Frontier AI agents are being sent into operational finance. Whether they act correctly — complete the work, respect authorization, refuse shortcuts, touch nothing outside contract — has to be measured somewhere consequences can't reach.

Meridian is that somewhere. The Lab holds the instruments.

06 · From episodes to tasks to uplift

The institution's own record, read back through the grid

The grid says where a bank spends judgement. Meridian's curated record says what actually happened on such a desk: bounded episodes, each hash-sealed to its sources and adjudicated one human ruling at a time. Every episode below is the synthetic twin: names, units and codes are Meridian's own fiction; the curation ledger holds nothing but node ids and published grid vocabulary.

Each episode is machine-matched into coverage-grid divisions using only the released lexicon (v0.3.0, manifest dce3dd85). Where an episode's divisions overlap a doctrine task family, an evaluation task can be proposed, and a task reaches the build queue only through a ratification gate that scores relevance and consequence before a line of it is written.

The last link is uplift: whether doctrine distilled from such episodes makes a model's work product better, and against what. That is measured under preregistered, hash-locked protocols on a private calibration corpus (one institution, not released). The ledger further down records where each line stands as of 2026-09-07, including the lines that failed.

01Curated episodes in the Meridian record58

Bounded, source-hashed, adjudicated one ruling at a time

02Machine-proposed division assignments48

Matched against the released grid lexicon - every term public, every proposal awaiting a human ruling

03Grid divisions touched31

Of 42 in the released vocabulary

04Episodes meeting a task family16

Division overlap with a priced, consequence-scored task spec

Curated episodes · synthetic twinsdivisions machine-proposed · pending adjudicationv0.3.0
EpisodeProposed divisions
Mato Do reported a completed Ficta Meridian Unit 79EA079E-scoped production update to CORBURY …Trade lifecycle operations · Buy-side portfolio management · Client lifecycle & KYC
Dynamic-margin setup rule reminder and script-readiness confirmation requestBuy-side portfolio management · Sell-side research · XVA & counterparty risk
2024-09-19 · CORBURY Swaps PROD- Basket Manager Manager- GUI DB state issueBuy-side trading & execution · FX trading · Rates trading
2024-09-06 · IA Requirement Error and Audit GapBuy-side performance & risk reporting · Client lifecycle & KYC · Equities trading
2024-08-28 · Swap Trades with 0% IA rateRates trading · Client lifecycle & KYC · FX trading
2024-08-27 · brisk-granite Script MigrationXVA & counterparty risk
2024-08-23 · Swaps report migrationFX trading · Rates trading
2024-08-21 · GETS Fengate - Spanish exchange update from XFAL to XFAJBuy-side portfolio management · FX trading · Macro (rates/FX/EM combined)
2024-08-08 · Spanish issues in ProdFX trading · Macro (rates/FX/EM combined)
FD-1197

Settlement is the boundary

Trade lifecycle operations · Prime brokerage & client financing. Framing: concept-layer, saturated unaided. No product uplift gap published for this calibration-lane entry.

FD-2833

Net-off, not outrights - financing priced all-in

Prime brokerage & client financing · Repo & securities financing. Framing: curated evidence set, per-locus signal, pooled unconfirmed. Measured (labelled, not a recovery_gap): scope (T6-v2)=per-locus FD-2833; descriptive contrasts, not a preregistered gate pass; C3b-r_DOCTRINE_minus_RAG_MATCHED (T6-v2)=0.35; C4f_DOCTRINE_minus_QUOTES_FIXED (T6-v2)=0.192; pooled_status (T6-v2)=unconfirmed (T6 canonical claim NOT passed; U1 p=0.061).

FD-1162 (retired)

Calendars do not add

Trade lifecycle operations. Framing: retired - retrieval beats pack on this locus (T6-v2). Retired: T6-v2 per-locus FD-1162: pack loses to equal-length question-keyed RAG and adds little over the pack's own fixed quotes; readiness directive was to retire this entry outright (retrieval beats its pack). | source T6-v2 | evals/paired-doctrine-eval/T6-REPORT.md.

Evidence depth · how deep a ratified ruling binds each episode to the gridcandidates shown, never countedread against BOCG v0.6.0 · concepts 92f823ba
01Control-point cell0

Bound to a published control-point cell.

02Released terminal task7

Bound to one released terminal task, which places it in that task's concept. Ratified: 7.

03Task concept0

Bound to a task concept of the division.

04Function concept0

Bound to a function concept of the division.

05Division only10

An owner ruling binds the episode to a division key and nothing narrower. Ratified: 10. Candidate only: 34.

06No ratified touchpoint0

Candidates only, or nothing mapped: shown, never counted.

Depth is the deepest touchpoint an owner or SME ruling has ratified: a division key, a function or task concept, one released terminal task, or a control-point cell. Of 69 ledger episodes, 17 carry a ratified touchpoint and 34 carry candidates only. Evidence stays bound to BOCG v0.3.0 (identical coverage matrix bytes; evidence bindings not rebound); this view reads the v0.6.0 concept layer without rebinding anything.

Task concepts reached by ratified terminal-task evidence637 task concepts over 766 released tasks1 division reviewed · 41 machine-clustered
DivisionTask conceptMembersProvenanceEpisodes
Credit tradingprice a cash bond or credit derivative1AUTO · machine-clustered, unread1
Market risk managementproduce daily var expected shortfall using approved model1AUTO · machine-clustered, unread1
Market risk & valuation controlcalculate risk measure test limit3 (2 aliases)AUTO · machine-clustered, unread2
Market risk & valuation controlgate model change before production deployment1AUTO · machine-clustered, unread3

Provenance is stated per division and never pooled. AUTO concepts are a deterministic machine grouping of released labels that nobody has read; they are published so the grouping is inspectable, not because it is right. The one REVIEWED division is Prime brokerage & client financing: 3 argued merges ruled 2026-09-24, 23 aliases, 54 released tasks into 40 task concepts and 15 released functions into 7 function concepts. Function concept "Prime brokerage financing, margin, stock loan and client financing composite role" (9 members); Task concept "calculate a client margin requirement" (5 members); Task concept "issue collect a house reg margin call under client s margin agreement" (11 members).

ep-1a99aa27e757

Released terminal task

. Market risk & valuation control.

ep-492944c0a778

Released terminal task

. Market risk & valuation control.

ep-879ead7f9542

Released terminal task

. Credit trading.

ep-a8bc8e087a39

Released terminal task

. Market risk & valuation control.

ep-b187a2047913

Released terminal task

. Market risk & valuation control.

ep-f304ed77d58d

Released terminal task

. Market risk management.

ep-fac89cbcbdc2

Released terminal task

. Market risk & valuation control.

ep-0e54b9240435

Division only

. Trade lifecycle operations.

ep-23c427505a14

Division only

. Trade lifecycle operations.

ep-26df4ea7ff06

Division only

. Prime brokerage & client financing.

ep-35f4f3c650db

Division only

. Buy-side investment operations · Trade lifecycle operations.

ep-6e7926c8c378

Division only

. Collateral & margin management · Prime brokerage & client financing.

Episode refs are hashes of the curation ledger identity; the ledger itself holds only node ids and published grid vocabulary. Skipped ledger records, by reason: status outside surface vocabulary 6. Generated 2026-09-24.

One task is through the gate so far: FD-1197 · analyze · “memo: can the settled period be amended in place; correct sequence if not” · 5 rubric criteria · worst credible failure: mispaid counterparty · status RATIFIED. Division assignments above are machine proposals awaiting human adjudication, and probe figures come from small preregistered probes against the unaided model; both are labelled as exactly that.

Uplift, as measured · four linespreregistered, hash-locked runsas of 2026-09-07
01Curated pack aloneClosed

T5, 9 fresh tasks: the pack beats the unaided model (+0.54, p=0.0059) and a wrong-topic pack of identical format (+0.59, p=0.0039). It is not shown to beat retrieval of its own source at equal length (+0.27, p=0.152) nor its own quoted evidence (+0.15, p=0.172). The preregistered falsifier fired and the line closed on 2026-09-02. Pack over unaided has now replicated three times: +0.41, +0.54, +0.45.

02Pack plus retrieval, vs retrieval aloneClosed at replication

T7-v3 COMPLETE 2026-09-03; union claim PASSED narrowly on 27 admitted tasks (estimand conditional on oracle answerability): U1 +0.130, p=0.047, CI [+0.009, +0.296]; U2 +0.228, p=0.003. T8-v1 COMPLETE 2026-09-05 was the preregistered one-shot replication on 45 admitted tasks from three untouched loci of a second private corpus, packs built by the standard pipeline: U1 +0.072, p=0.047, CI [-0.002, +0.162], per locus +0.137, +0.000, +0.078, second judge p=0.057; U2 +0.177, p=0.000004. The protocol required U1 positive on every locus; it was not. The T7 effect did not transfer and the union line is closed, one shot, no re-run. What did replicate: the right pack beats the wrong pack on every locus under both judges, and the oracle source window beats retrieval by +0.38, the largest gap in the run. Earlier T6 on 20 tasks failed as written, narrowly (+0.16, p=0.061 against 0.05; wrong-topic control +0.18, p=0.041), and pack authoring stopped on 2026-09-02.

03Routing signalNo signal

Five pre-answer signals were tried: three lexical statistics first, then two model probes on 18 T6 tasks and 10 T5 tasks. The best routed policy scored +0.208 against +0.176 for always using pack plus retrieval, a gain of +0.032 under the +0.05 admission bar fixed before the probes ran; a perfect router would reach +0.250. No routed arm runs.

04Failed predictionsReported

Three preregistered claim gates (T4, T5, T6), none passed as written; each pre-written falsifier was applied. Instrument defects were declared rather than repaired after the fact: a void control in T4, a partial one in T5, and two T7 versions halted before any scored answer. The one preregistered pass (T7) was sent to a one-shot replication (T8) and did not survive it. Every failure is listed below.

Uplift ledger · every preregistered contrast · primary judge GLM-5.3second judge Claude Opus 5alpha 0.05
Run · contrastnDeltap95% intervalSecond judgeVerdict
T5 C1 · pack vs unaided model9+0.5370.0059+0.287 to +0.732+0.556, p=0.0039passes
T5 C2 · pack vs wrong-topic pack of the same format9+0.5930.0039+0.306 to +0.815+0.620, p=0.0020passes
T5 C3b · pack vs equal-length retrieval of its source9+0.2690.152-0.194 to +0.639+0.269, p=0.141fails
T5 C4 · pack vs its own quoted evidence9+0.1480.172-0.037 to +0.417+0.167, p=0.125fails
T5 C3a · pack vs an oracle source window9+0.0460.461-0.102 to +0.389+0.046, p=0.469descriptive
T6 U1 · pack plus retrieval vs twice-budget retrieval alone20+0.1580.061-0.004 to +0.358n=19: +0.184, p=0.055fails
T6 U2 · pack plus retrieval vs wrong-topic pack plus the same retrieval20+0.1790.041+0.017 to +0.379n=19: +0.197, p=0.046passes
T6 U3 · pack plus retrieval vs pack alone20+0.1040.042+0.017 to +0.242n=19: +0.105, p=0.055descriptive
T6 C1r · pack vs unaided model, third replication20+0.4540.00003+0.288 to +0.625n=19: +0.465, p=0.00006descriptive
T6 C3b-r · pack vs equal-length retrieval of its source20+0.1000.225-0.129 to +0.358n=19: +0.092, p=0.255descriptive
T6 C4f · pack vs its own quoted evidence, rebuilt control20+0.0630.206-0.033 to +0.225n=19: +0.061, p=0.229descriptive
T7 U1 · pack plus retrieval vs twice-budget retrieval alone, oracle-answerable tasks27+0.1300.047+0.009 to +0.296+0.130, p=0.051passes
T7 U2 · pack plus retrieval vs wrong-topic pack plus the same retrieval, oracle-answerable tasks27+0.2280.003+0.096 to +0.395+0.238, p=0.003passes
T8 U1 · pack plus retrieval vs twice-budget retrieval alone, three untouched loci of a second corpus45+0.0720.047-0.002 to +0.162n=43: +0.074, p=0.057rejects pooled; fails the per-locus rule (one locus exactly zero)
T8 U2 · pack plus retrieval vs wrong-topic pack plus the same retrieval, three untouched loci of a second corpus45+0.1770.000004+0.107 to +0.273n=43: +0.185, p=0.000002passes
T4

A void control, declared

The quotes-only control was empty: a format mismatch left it byte-identical to the unaided arm, so its result (+0.367, p=0.0059) was struck by erratum on 2026-09-02. Two valid contrasts of three, not three of four; the gate outcome was unchanged.

T5

A partial control, disclosed

The rebuilt quotes-only arm carried 16% to 20% of the pack text, a mismatch that favoured the pack. The report says so, and T6 rebuilt the control before anything was read into it (+0.063, p=0.206).

T7 v1

Halted at the first gate

The generated questions were too easy without documents: the cheap gate model passed 43 of 120 criteria unaided, 0.358 against a 0.20 ceiling. An instrument fault, not a finding; the run stopped before any scored answer.

T7 v2

Halted at admission

The answerability filter sampled four slices of the source and admitted 15 of 30 tasks in a pattern that measured membership in the sample, not answerability. Caught before any evidence call; the version was voided and v3 regenerated from zero.

T8

A provider interruption, resumed byte-identically

The run stopped once on a provider limit and resumed under the same frozen protocol: 173 cached evidence artifacts were honoured and no code changed. Five of 540 answer sheets were refusals, all in the unaided arm, scored zero by rule. The second judge returned no output on 16 sheets from two tasks of one locus, so its confirmatory set is n=43; the primary judge missed one replicate. The gate outcome does not depend on any of it.

T7-v3 COMPLETE 2026-09-03; union claim PASSED narrowly. U1: n=27, +0.130, p=0.047, CI [+0.009, +0.296]; U2: +0.228, p=0.003. Estimand: conditional on oracle answerability. Its untouched-locus replication (T8-v1, 2026-09-05) did NOT pass; the union line is closed. Admission floor was 20 under T7 v3. T8-v1 COMPLETE 2026-09-05; one-shot replication on three untouched loci of a second private corpus; union claim NOT passed. U1: n=45, +0.072, p=0.047, CI [-0.002, +0.162], one locus exactly zero, second judge p=0.057; U2: +0.177, p=0.000004. The line is closed by the rule set before the run: no re-run, no tuning. Scope of every figure: two loci of the doctrine registry (FD-2833, FD-1162), 9 tasks in T5 and 20 in T6 (420 answer sheets, 0 refusals), answers written by Claude Opus 5 with different reference material in the prompt, graded criterion by criterion by GLM-5.3 (primary) and Claude Opus 5 (second judge, n=19 in T6), exact one-sided sign-flip permutation test at alpha 0.05, on a private calibration corpus (one institution, not released), plus T8 on 45 tasks from three untouched loci of a second private corpus (a second institution, not released). A delta is the difference in mean task score, the fraction of rubric criteria passed. No human grading; external validity is unmeasured.

07 · Headline results

01Frontier-model completions, ≤24 turns27 / 40

Unsaturated

02Open-weight arm39 / 40

The spread is the instrument’s resolution

03Gate trips0

No hidden-field probes or canary echoes

04Sealed adversarial mutations rejected243 / 243

With expected errors

Harness v2 · preregistered · August 2026. The scripted honest baseline must pass 40/40 before any model result is reported.

08 · The evidence chain

Change a byte, invalidate the report

Runs are preregistered. Configs, transcripts, metrics and reports bind to a manifest by SHA-256. Independence from any real corpus is measured at release — not asserted.

Reproduce the grid
git clone thefazzer/bankingops-coverage-grid
pip install -e bocg
bocg gate all -w live-run-20260826

09 · Working with the Lab

S1

Sealed episode set

Private hash-sealed set derived from the public episodes by reslug, date shift and amount scale; canaries are per-run, not part of the sealed inventory.

S2

Evaluation run

Your model on a private set, delivered as a hash-bound evidence pack.

S3

Custom families

Custom operational families on the same contract-and-gates machinery.

S4

Generator licence

Sealed-set minting at lab scale.

10 · Contact

A synthetic institution, deliberately

Public sample is MIT. To work with the Lab, open an issue on the repository — the machinery, results and evidence chain are all here.