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Ledger and settlement

Trading Core holds the authoritative record of balances, orders and trades. The ledger is double-entry, carries multiple assets and networks, and cannot be edited.

Order to ledger to settlementThe customer asks for a quote; the server checks price freshness and the ceiling and issues it; the customer confirms and the trade books against the unused quote. The ledger posts a balanced journal, opens a hedge ticket and sends the event through the outbox to the back-office system, which sends opening positions back with a hash. At day close the completeness file is confirmed on the same hash.ORDERLEDGERSETTLEMENTfresh price · ceilingcustomer confirmshedge openseventsigned feedday open · hashhash confirmedCustomerasks for a quoteServer quotereference · price · expiryvalid 15 s by defaultTrade bookedquote unused · unexpiredduplicate-safe request keyLedger journalbalances to zero per assetno short · append-onlyHedge ticketopens on the deskfills append-onlyEvent outboxsigned · retried in orderBack-office systemconfirmations · statements1 Core System or ownDay closecompleteness file · SHA-256pruned after matching hashLEGENDStepLedgerBack officeMain flowBack from back office
A server quote becomes a trade, the trade becomes a balanced journal, and every journal leaves as a signed event. The day opens and closes against the back office on a matching SHA-256 hash.

Double-entry ledger

Section titled “Double-entry ledger”
  • Accounts by owner (customer, company own book, external, custody), by asset and by network.
  • Every account has an available and a held balance.
  • Every journal balances to zero per asset. An unbalanced posting is rejected.
  • Posted entries can never be updated or deleted. A correction is a new entry that references the original.
  • A trade that would take a customer short is refused.

Fiat movements

Section titled “Fiat movements”
  • THB deposits are matched to customer accounts.
  • THB withdrawals go through a hold, a payment file for the bank, and a one-way completion step.
  • Full history per customer.

Digital-asset movements

Section titled “Digital-asset movements”
  • Deposits are always credited as held, then released by the compliance gate — see Compliance controls.
  • Withdrawals are placed on hold while the checks run. Completion is one-way: a finished withdrawal cannot be reopened.
  • The network and chain are recorded on every movement.

Back-office integration

Section titled “Back-office integration”

Trading Core runs trading and intraday settlement. KYC, account opening, end-of-day statements and record retention are handled by a back-office system: Qirin X’s 1 Core System or the client’s own.

  • Signed event feed. Every trade, reversal, deposit, withdrawal, transfer, hedge fill, liquidity-provider movement, sweep and new deposit address is sent as an event through an authenticated outbox with automatic retry.
  • Customer link. The back-office system binds customers, pushes limits and sends account restriction commands.
  • Day open. Opening positions arrive as brought-forward balances with a SHA-256 completeness hash. If the hash is missing or does not match, the day open is refused and nothing is written.
  • Day close. Daily completeness files. A day is pruned locally only after the back office confirms a matching hash.
  • Breaks, not rewrites. A figure difference raises a break for investigation. History is never rewritten to make numbers agree.

Day open and close, step by step

Section titled “Day open and close, step by step”
  1. The back-office system sends the opening positions for the day with a SHA-256 hash.
  2. Trading Core recomputes the hash from the positions received. A mismatch is refused, and the same day can be sent again.
  3. The positions land as brought-forward balances. Any figure difference against the ledger raises a break.
  4. During the day, every event goes out through the outbox in order.
  5. At close, a completeness file is produced. The local day is dropped only after the back office confirms the same hash.

What the system does or refuses

Section titled “What the system does or refuses”
  • Rejects an unbalanced journal.
  • Refuses any update or delete of a posted entry.
  • Refuses a trade that would take a customer short.
  • Refuses a day open whose hash is missing or does not match, and writes nothing.
  • Never prunes a day before the back office confirms the same hash.
  • Never reopens a completed withdrawal, fiat or digital asset.
Section titled “Related”