Actors and roles

The actors

Who	Signs	Node
The bank or firm that runs NodeAsset	Orders, payment requests, settlement as executor	Venue node
Fund’s transfer agent	Mints, burns, standing consent	Issuer node
The payment asset’s issuer: a bank for a tokenized deposit, the issuer of a stablecoin	Payment moves	Own node
Fund administrator	NAV, prices	Own node
Via its custodian	Admission, payments	Custodian node
Internal or external audit	Nothing (reads)	None

Each party can be another firm, or a desk of the venue’s own organization: Deployment patterns lists who can be which, and each role’s page says what it runs and signs.

Who does what

Set up	Subscribe & redeem	Period end	Controls
Records, four eyes	Settles both legs	Computes, approves, books	Freezes, holds
Creates; signs consent	Mints, burns	Pays each line	Block list
None	Moves payment	None	None
Named	Prices orders	Signs NAV, list	None
None	Approves once	Receives units	May be frozen
Reads	Reads	Reads	Reads

Names by asset type

Actor	Investment fund	Tokenized deposit	Stablecoin	Commodity	Product backed by on-ledger collateral
Issuer	Transfer agent	The bank	Stablecoin issuer	Token issuer	Product issuer
Price source	Fund administrator	None (at par)	None (at par)	Price provider or vault	Each reserve asset’s own

The venue’s roles

Everyone who acts for the venue calls the API under a role, and the engine submits every ledger act as the venue’s one party. A role decides which calls the engine takes from that person or system. Your identity provider assigns the roles (Identity provider).

Role	Who holds it	Does
`operator`	Operations, structuring and valuation	Day to day: registers investors and offers admission; takes orders and settles them; executes distributions, as maker, and books them; uploads statements. Setup: records assets; sets policies; proposes the fund’s consent and the issuer powers; opens, amends and closes a backed instrument’s reserve; proposes provision settlements
`approver`	A second person, and a third where two must approve	Checks every four-eyes action; never the maker of the same one
`risk`	Risk	Runs reconciliation and a reserve’s report; freezes and pauses at once; asks for releases; tightens a policy
`compliance`	Compliance	Freezes an investor at once; asks for a restriction’s lift, a forced transfer or a recovery, each under two approvers
`auditor`	Internal or external audit	Reads everything; never approves
`monitor`	IT and monitoring	Health, the reconciliation verdict and redacted control events; nothing of the book

The venue’s own systems call under app, for an integrating system (orders and reads, no controls), and monitor. Outside parties working with the venue have roles too, which never sign for them: investor, confined to its own records; feed, for a source that posts statements and reads nothing; and registrar, for the register keeper’s own systems, reading what the venue asks of it. Roles and access groups every role by who holds it. Compliance work is shared: the asset’s policy is the operator’s and risk’s, and interventions on an investor (restrictions, forced transfers and recoveries) are the compliance role’s. Duties and governance lists what each role may do, and how many approve each kind of change.

Notes

Four eyes sits inside NodeAsset: makers and approvers are your own staff. See Four-eyes approvals.
The price source is optional per asset: an asset at par has none, and a backed instrument’s reserve reads each of its assets’ price sources.
The treasury is the fund’s cash account, not an actor.

Start here

Workflows

Foundations

The actors

Who does what

Names by asset type

The venue’s roles

Notes

​The actors

​Who does what

​Names by asset type

​The venue’s roles

​Notes

The actors

Who does what

Names by asset type

The venue’s roles

Notes