What this fixing measures.

The price at which the instrument is deemed to transact for settlement purposes at the strike time. It is not an estimate of fair value, a prediction, or an indication of where the instrument may trade next. It is the number contracts settle against.

Seats, and what each one asserts.

A fixing needs K of N. No seat is asked for an opinion about the price; each asserts a fact only it can see, by naming the conditions it verified. The composition is opposed by design — the issuer favours par, the lender favours prudence, the venue favours the observed print — and no single interest may hold K. Conditions are served by /api/signer-protocol (SIGNER_PROTOCOL v1), the same list the ledger-facing API accepts.

Recommended N = 5, K = 3; pilot minimum N = 3, K = 2. No committee has yet been convened for this identifier; the seats above describe the protocol, not occupants. See Governance.

The last thirty rows.

Reference price and factor are populated for wrapped assets, where the struck price is the benchmark print multiplied by the committee-attested par factor. A restatement is a new record referencing the original; the original is never deleted.

Products that settle against this fixing.

Reading is free. Settling against it is licensed.

Referencing a CrossDesk fixing in a contract requires a licence from the administrator; reading a published fixing does not. Three licence types — use, redistribution, display — cover the different rights, and only the first is meaningful money.