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Industry domain brief
Capital Markets & Exchanges
COBOLpro traces trade, clearing, custody, settlement, margin, and reporting logic for capital markets documentation.
3
Legacy estate
Systems and data surfaces to inspect
9
Workflows
Business workflows grouped by capability
3
Risks
Business impacts with control focus
4
Deliverables
COBOLpro assessment artifacts
Executive summary
Market infrastructure teams operate under tight deadlines, high control expectations, and complex dependencies across trade capture, clearing, custody, settlement, margin, reference data, statements, and regulatory reporting. Legacy batch and transaction systems remain deeply embedded.
COBOLpro creates a domain brief that gives operations, risk, audit, and technology leaders a shared view of source-backed dependencies before system or regulatory change.
Legacy systems in scope
The source estate to turn into an operating map.
Each row is structured for executive review: where the COBOL behavior sits, what it touches, and what the documentation must prove.
Trade and clearing operations
Legacy estate
Trade capture, order routing, allocations, matching, clearing, exception, MQ, file transfer, and market-data systems
Documentation focus
Trade enrichment, validation, netting, deadlines, exception handling, and participant handoffs
Settlement and custody
Legacy estate
Settlement, custody, positions, cash, corporate actions, margin, collateral, statements, and reconciliation systems
Documentation focus
Position and cash lineage, reference-data transformations, corporate action rules, and statement cycles
Risk and regulated reporting
Legacy estate
Surveillance, regulatory, risk, client, participant, finance, fee, commission, and audit reporting feeds
Documentation focus
Control evidence, report lineage, market deadlines, and change proof for regulated operations
Operational workflows
Business capabilities, not raw program lists.
COBOLpro groups source behavior around the operating workflows buyers need to preserve, explain, or replace.
01
Trade lifecycle
- Trade capture, validation, enrichment, matching, and allocation
- Clearing, netting, exceptions, and participant handoffs
- Reference data, market data, and product setup dependencies
02
Post-trade operations
- Settlement, custody, positions, cash, and reconciliation
- Margin, collateral, corporate actions, fees, and commissions
- Statements, client reporting, and close cycles
03
Controls and reporting
- Regulatory, participant, risk, surveillance, and finance reports
- Audit evidence and operational controls
- Deadline management and incident response
Risk and control priorities
Where legacy ambiguity becomes business exposure.
The assessment narrows risk to business impact and source-backed control evidence instead of treating documentation as a generic code inventory.
01
Market deadline exposure
Business impact
Batch and real-time dependencies leave little tolerance for failed settlement, reconciliation, or reporting windows.
Control focus
Map market-day jobs, transactions, files, queues, cutoff times, exceptions, and recovery paths.
02
Reference-data transformation
Business impact
Small mapping changes can affect positions, cash, margin, fees, statements, and regulatory outputs.
Control focus
Trace reference fields through source code, copybooks, files, reports, and reconciliation controls.
03
Control evidence
Business impact
Participant trust and regulatory response depend on provable lineage and repeatable operational runbooks.
Control focus
Connect source evidence to control objectives, reports, signoffs, and documentation decisions.
COBOLpro assessment output
Concrete artifacts for continuity decisions.
Outputs are written for shared use across business, audit, architecture, application, data, and delivery teams.
01
Trade-to-settlement lineage
Traceability across files, jobs, transactions, queues, tables, reports, and participant interfaces.
02
Market rule catalog
Rules for fees, commissions, margin, corporate actions, reference data, exceptions, and deadlines.
03
Post-trade runbook
Clearing, settlement, custody, reconciliation, statement, and close cycles mapped to source assets.
04
Regulatory change blast radius
Evidence of affected products, participants, reports, controls, programs, files, and operating teams.
Domain assessment