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Before providing a technical explanation of the Fiserv Platform, it is first essential to describe the business operational aspects of the post-trade process. After the completion of a trade (i.e., equities), the transaction goes through what is called "Post-trade processing", where the buyer (i.e., an investment manager such as a mutual fund or hedge fund) and the seller (i.e., a broker-dealer) compare trade details, approve the transaction, change records of ownership, and arrange for the transfer of securities and/or cash. Post-trade processing is especially important in markets that are not standardized such as the Over-The-Counter (OTC) market.
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