Everyone added a checkpoint. No one built the language.
Five checkpoints, five rule formats, five logs. No decision travels from one to the next. OPL is the substrate between them.
OPL binds the identifiers the industry already uses to the terms a mandate is written in.
Twelve Terms cover what regulated trading actually decides: typed, cited, signed.
The OnTrade Terms, in the spirit of the Incoterms® rules.
Both sides of a trade are checked against the same Terms without sharing a field. Shared terms, not shared data.
One model. Every checkpoint.
The signed model is the source of truth. It compiles to whichever system checks the trade. Categories only; counterparties under NDA.
01// decision model · mandate IMA-2026-07 · excerpt02term OT-CONC.single_issuer {03 source: "IMA §4.2 · single-issuer exposure ≤ 8.0% of NAV"04 measure: exposure(issuer) / nav, post_trade05 limit: 8.0%06 band: 7.5% .. 8.0% → OT-APPR.second_signature(risk_officer)07 above: reject08 evidence: OT-EVID.standard09}10// signed by counsel · policyCommit 0x9f4a… · readings reused: 2 of 3
A rule names its Term, its source, its measure, its limit, and what happens at the edge. Counsel signs; the policyCommit is the hash of what was signed.
Open the language. Own the registry.
Necessary is not defensible. The language is published; the stewardship stays, as with the LEI or the ISIN.
- //the specification, draft in Q1 2027, after the filing
- //the reference compiler and the conformance suite
- //the evidence schema and the data contracts
- //two free kits: for counterparties, and for depositaries and auditors
- //the Terms and policyCommit registries, and the keys they bind
- //counsel's attestation on every signed model
- //the certificates of the implementation and of what runs
- //the attested record, in the client's tenant
One rulebook your system can enforce. One record it reconciles into.
The specification, the compiler and the reader kit are free. Leave your details for the draft and a briefing on the compile target that fits your system.