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Browse 4 real-world technical and behavioral interview questions about Custody. Review scenarios, edge cases, and architectural best practices.
Lending transfers legal title, so the lender receives a manufactured payment from the borrower and cannot vote the lent stock. Whether a pledge does the same depends on whether it is a title transfer or a security interest. The client still needs one economic position, with the legal breakdown reported underneath it.
By storing when something became true separately from when you learned it, so the old report stays reproducible while the corrected position takes effect from the event date. The engineering work is in the fan-out to everything already derived from the wrong quantity, not in the entitlement posting itself.
An equity order is validated and risk-checked at the broker, routed to a venue, matched by price-time priority into one or more fills reported back as execution reports, allocated to end accounts, novated to a clearing house that becomes the counterparty, and finally settled against cash at the custodian on T+1.
A position is what you have traded, a holding is what the custodian says you own, and they legitimately differ by unsettled trades and pending entitlements. Reconciliation compares both against the custodian's statements, and corporate actions break it when an election deadline is missed. Use this custody answer to show the decision, trade-off, and evidence rather than a memorised definition.