Meridian / Documentation

Custody Authorization Model

SOURCE · docs/standards/custody-authorization-model.md · synced from the engineering repo

Custody And Authorization Model

Status: draft
Version: 0.1.0

Purpose

Define the canonical control-repo language for Meridian Vault custody delegation, operator grants, replayable portfolio registration, portfolio-operator bindings, approval requests and decisions, and delegated settlement authorization above Meridian Clear.

Canonical actors

  • owner participant
  • custodian participant
  • operator participant
  • approver participant
  • policy engine
  • settlement workflow

Canonical authorization objects

  • custody delegation
  • operator grant
  • portfolio record
  • portfolio operator binding
  • owner portfolio directory
  • custodian portfolio directory
  • operator portfolio directory
  • approval request
  • approval decision
  • delegated settlement authorization
  • audit trail reference

Phase J runtime vocabulary

  • custody delegation records that a custodian participant may act for an owner participant within a declared scope.
  • operator grant narrows delegated authority to an operator participant for specific actions, instruments, or venues.
  • portfolio record establishes one replayable Vault ownership or custody sleeve for one owner participant with optional custodian context.
  • portfolio operator binding assigns one operator participant to one Vault portfolio with explicit roles and permission ids.
  • owner, custodian, and operator portfolio directories expose governed read views over registered portfolio relationships.
  • approval request captures a governed request for a protected action, such as delegated settlement.
  • approval decision records the approver participant’s decision and when it was made.
  • delegated settlement authorization is the Vault-controlled path that authorizes Clear settlement when the caller is not acting directly.
  • portfolio-bound settlement authority is the governed Vault lane that lets one bound portfolio operator satisfy Clear settlement authorization for one linked source portfolio when instruction.settle is present and the approval request is fully approved.

Required decision fields

  • approval request id
  • approver participant id
  • action type
  • resource id
  • decision
  • decided at
  • audit reference

Required portfolio fields

  • portfolio id
  • owner participant id
  • custodian participant id
  • portfolio type
  • label
  • description
  • status
  • created at
  • operator participant id
  • role ids
  • permission ids
  • granted at