====== Transaction ======

[[public:99_annexes:annex-b-terms-and-definitions:start|Go up to Terms and Definitions]]

===== Discussion =====

A Transaction represents a recordable business event or proposed business event involving one or more parties, obligations, rights, values, assets, instruments, services, or settlement expectations.

In a financial system, a Transaction provides the business context for validation, interpretation, state management, settlement, audit, provenance, evidence, and review. A Transaction may describe an agreed financial event, a proposed financial event, an instruction, an order, a transfer, a contract event, or another governed business interaction, depending on the applicable domain profile.

The Financial Systems Archetype treats a Transaction as a conceptual business item, not as a message, file, database record, API payload, or runtime event. Later, logical and implementation profiles define the information structures, endpoints, services, and artifacts that represent or process transactions.

===== Definition =====

//recordable business event or proposed business event involving parties, obligations, rights, values, assets, instruments, services, or settlement expectations//

===== Source =====

Generalised from financial-system transaction concepts used by the [[public:99_annexes:annex-b-terms-and-definitions:f:financial_system|Financial System]] and [[public:99_annexes:annex-b-terms-and-definitions:f:foreign_exchange_domain|Foreign Exchange Domain]] material in the FX Demo [[public:99_annexes:annex-b-terms-and-definitions:r:reference_architecture|Reference Architecture]].

===== Note =====

  * A Transaction is a business concept, not an implementation artifact
  * A message, file, API payload, database record, DDS sample, or event-stream record may represent, carry, store, or process information about a Transaction
  * Multiple implementation artifacts may represent or refer to the same Transaction
  * A transaction record is a record of a Transaction, not the Transaction itself
  * A runtime event may record the occurrence of a Transaction or a change in its state
  * The identification of something as a Transaction does not determine its legal, accounting, regulatory, or settlement treatment

===== Example =====

An FX forward transaction records an agreement between counterparties to exchange specified currencies at a specified rate on a specified settlement date.