The map above isn't decoration. Each node is a real system in the Agency MBS lifecycle. AFS sits at the center, moving trades between them automatically — the pulses of light are trades flowing from match through clearance to settlement.
Asset managers and dealers clear on the same network, with custodians reporting from one source of truth.
FICC, CTM/RTTM, Tradeweb, SWIFT — the rails your trades already run on, connected and automated.
Pair-offs, assignments, round robins, and EPN allocations move no-touch, validated against live pool data.