This paper focuses on a generalization of the notion of electronic trade procedures. Instead of designing specific trade procedures for each possible variation of a transaction, we develop a generative grammar formalism that defines entire families of related trade procedures. Since trade...

Over recent decades, securities post-trading has seen a radical change from paper-based to electronic procedures. Technological advances have facilitated digitisation as a global trend. While in the investment industry technology has also been a key driver for financial automation since the late...