A defined sequence of tasks and processes within a system designed to ensure every step, decision, and data alteration is recorded, verifiable, and traceable. This capability allows for forensic examination of operations, crucial for compliance, risk management, and dispute resolution in institutional crypto trading.
Mechanism
Operates through systematic logging and timestamping of all relevant actions, data inputs, and system states as they occur. Each transaction or state change generates an immutable record, often cryptographically signed or stored on a distributed ledger in crypto contexts, establishing a transparent chain of events. Access controls and role-based permissions restrict unauthorized modifications, ensuring data integrity across an RFQ system.
Methodology
Implements a control framework that dictates data capture points, data retention policies, and access protocols for audit logs. Regular internal and external assessments confirm adherence to these policies and the reliability of the audit trails. For crypto systems, on-chain transaction records inherently support this, complemented by off-chain attestations for complex institutional options trading workflows.
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