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Quantitative Finance · Glossary

What is Canonical trade model?

Definition 21.1 Research, Data and Risk Platforms · Chapter 21 — Trade Capture and Booking

A canonical trade model is the firm’s single representation of a trade shared by every system that handles it: a header (identifiers, parties, book, dates, status, version) and the economics (the instrument, quantity and price), with rules that every valid trade satisfies.

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