Essay — surveillance
Cross-border trade surveillance: The codes travel; the data stays home
Harmonized identifiers now travel across every border; the records behind them do not. Why no single regulator sees a cross-border trade whole.
Prior essays
Essay — best execution
The report nobody read
European regulators have repealed the reports firms once used to disclose best execution. This traces what replaced them, how the American and British models compare, and whether the duty itself has actually grown more subjective.
An introduction to the Primer
The Primer takes the order–trade–fulfillment lifecycle apart, one record at a time. Each lesson traces a single stage — what the record captures, what names it, and how it moves — so a newcomer can follow the mechanics and a practitioner can check the detail.