name: State Street Vocabulary
description: >-
  Domain vocabulary for State Street financial services, institutional investment
  management, portfolio analytics, ETF operations, and custody services.
version: 1.0.0
terms:
  - term: Portfolio
    definition: >-
      A collection of financial investments held by an institutional investor,
      managed according to a specific investment mandate, risk profile, and benchmark.
      State Street provides custody, accounting, and analytics services for portfolios
      across all major asset classes.
    related:
      - Position
      - Benchmark
      - Mandate

  - term: Position
    definition: >-
      An individual security holding within a portfolio, representing the quantity,
      market value, cost basis, and unrealized gain/loss for a specific financial
      instrument as of a given date.
    related:
      - Portfolio
      - Security
      - MarketValue

  - term: AlphaDataPlatform
    definition: >-
      State Street's cloud-native front-to-back investment management platform,
      built on Snowflake and Microsoft Azure, that provides institutional investors
      with near real-time portfolio data, analytics, and reporting across the
      entire investment lifecycle.
    related:
      - Portfolio
      - API
      - DataManagement

  - term: NetAssetValue
    definition: >-
      (NAV) The per-share value of a fund calculated by dividing the total value
      of the fund's assets minus liabilities by the number of outstanding shares.
      State Street provides driverless NAV calculation using machine learning
      automation.
    related:
      - MutualFund
      - ETF
      - Accounting

  - term: AuthorizedParticipant
    definition: >-
      (AP) A financial institution approved by an ETF sponsor to create and redeem
      large blocks of ETF shares (creation units) directly with the fund in exchange
      for the underlying basket of securities. Authorized participants access State
      Street Fund Connect via API.
    related:
      - ETF
      - FundConnect
      - CreationUnit

  - term: CreationUnit
    definition: >-
      The standard block size for ETF creation and redemption transactions, typically
      50,000 shares. Authorized participants deliver or receive a basket of securities
      plus a cash component in exchange for creation units.
    related:
      - AuthorizedParticipant
      - ETF
      - InKindBasket

  - term: FundConnect
    definition: >-
      State Street's global online platform for ETF creation and redemption order
      management, supporting authorized participants across all major markets with
      API access via FIX and XML protocols.
    related:
      - ETF
      - AuthorizedParticipant
      - Order

  - term: TimeWeightedReturn
    definition: >-
      (TWR) A method for calculating investment performance that eliminates the
      distorting effects of cash flows, allowing fair comparison between portfolio
      managers. State Street supports TWR calculation for performance attribution.
    related:
      - Performance
      - Attribution
      - Benchmark

  - term: TrackingError
    definition: >-
      A measure of how closely a portfolio's returns follow its benchmark index,
      expressed as the standard deviation of the difference between portfolio and
      benchmark returns. Annualized tracking error is a key risk metric.
    related:
      - Benchmark
      - Risk
      - Portfolio

  - term: ValueAtRisk
    definition: >-
      (VaR) A statistical measure of the potential maximum loss in portfolio value
      over a specified time period at a given confidence level (e.g., 95% or 99%).
      State Street's TrueView risk analytics provides VaR calculations.
    related:
      - Risk
      - Portfolio
      - StressTest

  - term: CustodyAssets
    definition: >-
      Financial assets held in safekeeping by State Street on behalf of institutional
      clients. State Street is one of the world's largest custodian banks with nearly
      $40 trillion in assets under custody.
    related:
      - Custodian
      - Settlement
      - Safekeeping

  - term: TradeSettlement
    definition: >-
      The process by which the buyer delivers payment and the seller delivers securities
      to complete a transaction. State Street provides post-trade settlement services
      across global markets.
    related:
      - Trade
      - Settlement
      - Custody

  - term: Attribution
    definition: >-
      The analysis of investment performance that identifies the sources of returns
      relative to a benchmark, including sector allocation, security selection, and
      currency effects. State Street supports top-down, bottom-up, and enhanced
      attribution methodologies.
    related:
      - Performance
      - Benchmark
      - Portfolio

  - term: OAuth2ClientCredentials
    definition: >-
      The authentication flow used by State Street APIs per RFC 6749 Section 4.4.2,
      where applications authenticate using a client ID and secret to obtain access
      tokens. All API access requires multifactor authentication.
    related:
      - Authentication
      - API
      - Security

  - term: CorrelationID
    definition: >-
      A unique identifier (X-Correlation-ID header) included in API requests for
      distributed tracing and debugging across State Street's microservices infrastructure.
    related:
      - API
      - Debugging
      - RequestTracing