Fiat

  Any user, system or satellite activity that will have an effect on balances and positions will trigger a fiat request. Each transaction is sent to be fiated. The fiat process performs three tasks:

  • Shielding.

  • Position limit checking.

  • Position updating.

  If the transaction is not allowed, for example because a limit is exceeded, then one of three things occurs:

  • the transaction is rejected and returned to the person who requested the fiat.

  • the transaction is accepted and the details of the fiat `rejection' are kept by the system for possible future action.

  • the transaction is held by the fiateur pending further action.