Glossary

Overview

This glossary provides canonical definitions for DMTR concepts and terminology. Use it to ensure consistent understanding across documentation, integrations, and team communication. Terms are linked from concept docs where applicable. Each term includes a scope badge indicating which surface(s) it applies to: api, mcp, extension, or integrations.

Core concepts

Position Object

The atomic unit of ownership in DMTR. A machine-readable encoding of a private market position (SPV interest, fund LP interest, etc.) with canonical fields for status, asset, rights, transfer, and compliance.

Registry

The authoritative record of beneficial ownership, units, and visible encumbrances. The registry is the system of record for position state.

Rights Engine

The component that evaluates transferability, restrictions, consent requirements, and eligibility. It applies legal and contractual logic to determine what actions are permitted.

Identity Graph

The graph of entities (persons, vehicles, funds) and their relationships used for KYC, AML, accreditation, and eligibility checks. The Rights Engine queries the Identity Graph when evaluating transfer restrictions.

Provenance

The lineage and audit trail of a position—how it was acquired, transferred, and modified. Provenance tracks the chain of custody and supports compliance and audit requirements.

Identifiers & schema

entity_id

Unique identifier for a position or registry entity. Format: {prefix}-{year}-{sequence} (e.g., meg-2026-047).

vehicle class

The type of legal entity or structure holding the position. Examples: fund_lp, spv_llc, holding_company. Determines transfer rules and consent requirements.

terms hash

A cryptographic hash of the governing terms (LPA, operating agreement, etc.) attached to a position. Used to detect changes to underlying documents and trigger re-evaluation.

Transfer & restrictions

transfer intent

A formal expression of desire to transfer a position, including seller, buyer, quantity, and price. May be an IOI, term sheet, or signed agreement depending on stage.

consent chain

The ordered sequence of parties (GP, LPAC, etc.) who must approve a transfer. Defines who must consent, in what order, and with what timeout.

lockup

A time-based restriction prohibiting transfer until a date or event. Common for fund LP interests (1–3 year lockups).

ROFR (Right of First Refusal)

A party-based restriction requiring designated parties to be offered the position at the proposed price before a third party can purchase. Typically a 30-day window.

blackout

A time-window restriction when transfers are blocked. Common around quarter-end NAV calculations, pending distributions, or regulatory quiet periods.

encumbrance

A claim or lien on a position that limits transferability. Examples: pledge for margin, security interest, lock-up agreement.

Roles & workflows

allocator

An entity that allocates capital to funds or deals (e.g., fund of funds, family office). May hold positions and participate in transfer workflows.

originator

The party that sources or originates a deal or position. In secondary transfers, the seller is often the originator of the original investment.

waterfall

The distribution priority and calculation rules for proceeds (e.g., preferred return, catch-up, carry). Encoded in fund terms and used for NAV and distribution logic.

carry (carried interest)

The GP's share of profits above a preferred return. Typically 20% of profits after hurdle. Affects distribution calculations and tax reporting.

Integration terms

IOI (Indication of Interest)

A transfer intent submitted to DMTR. IOIs are matched and processed through the transfer workflow.

MCP (Model Context Protocol)

The protocol used by DMTR to expose position data, registry queries, and transfer workflows to AI agents and LLM-based tools. Enables programmatic access via standardized tools and resources.

Webhook

HTTP callback for real-time event delivery. Configure webhook endpoints to receive position and transfer events.

Ownership & identity

owner

The owner field on a Position Object. Contains the participant_id of the beneficial owner. Maps to the participant record in the Identity Graph.

allocator

See allocator under Roles & Workflows. In the Position Object schema, an allocator is the entity that committed capital and may differ from the current owner after a secondary transfer.

Transfer restriction types

itar_restriction

ITAR foreign-person block. Transfers to Foreign Persons (22 CFR § 120.16) are blocked unless DDTC authorization is obtained. Applies to positions in companies with ITAR-controlled technology.

cfius_foreign_person_block

CFIUS covered transaction restriction. Transfers to Foreign Persons under the Defense Production Act (DPA Section 721; 31 CFR Part 800) require CFIUS review.

opinion_of_counsel

Counsel review required before transfer. The Rights Engine returns counsel_review status, generating a pending action.

reg_d_506b

Regulation D Rule 506(b) restriction. No general solicitation — the buyer must have a pre-existing substantive relationship with the issuer or its authorized agent.

reg_d_506c

Regulation D Rule 506(c) restriction. General solicitation permitted, but accredited investor status must be independently verified.

company_transfer_restriction_bypass

Company-level transfer restriction that can be waived by the issuer (Managing Member or GP). When active, generates a consent pending action.