Low-latency settlement and reconciliation platform processing equities and fixed-income trades with T+1 regulatory compliance and intraday risk controls.
The broker-dealer's settlement operations relied on an overnight batch pipeline that left intraday positions opaque and delayed exception resolution until the next business day. Regulatory shifts toward T+1 settlement compressed already tight processing windows and exposed manual reconciliation bottlenecks. I architected an event-sourced settlement domain that processes trade events in near real time, applies netting rules incrementally, and surfaces breaks to operations dashboards within minutes. Legacy SSIS ETL jobs were retained for regulatory reporting but fed from the new canonical trade store rather than source silos.
Settlement failures averaged 340 exceptions per day, each requiring 20 minutes of manual investigation across three systems. Intraday risk exposure was calculated from stale position snapshots, understating counterparty concentration by up to 12% during volatile sessions. FINRA reporting deadlines created quarterly fire drills when batch jobs missed cutoffs due to upstream feed delays. Operations headcount could not scale linearly with trade volume growth projected at 25% annually.
Trade capture feeds via FIX and internal OMS APIs publish normalized trade events to Azure Event Hubs with deterministic partitioning by instrument and counterparty. Settlement aggregates apply netting and allocation rules in .NET domain services, persisting state transitions to SQL Server with optimistic concurrency. A reconciliation microservice compares nostro statements against expected cash movements, flagging breaks with root-cause classification. Regulatory ETL pipelines extract from the canonical store on schedule, eliminating duplicate transformation logic across reporting streams.
The engine uses event sourcing for the trade lifecycle, with snapshots every 500 events to bound replay time for aggregate reconstruction. CQRS separates the write model from read-optimized position and exception dashboards backed by indexed views and Redis caches for hot counterparty lookups. Azure Functions handle scheduled nostro file ingestion and dead-letter reprocessing. Network segmentation isolates the settlement cluster from front-office systems, with all cross-zone traffic passing through audited API gateways.
Key interfaces and system views from the engagement.
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