Skip to main content
A reference for structured finance and platform-specific terminology used across the 9Squid API documentation.

​
A

ALM (Asset-Liability Management) The practice of managing financial risks that arise from mismatches between assets and liabilities. On 9Squid, ALM Analytics covers duration, convexity, NII sensitivity, EVE, VaR, and stress testing. Allocation The assignment of investor capital to a specific tranche within a deal. Allocations are confirmed after subscription and approval. Amortization The scheduled repayment of a loan’s principal over time. Used in pool analytics to model cash flow waterfalls.

​
B

Bearer Token The authentication credential required for all API requests. Passed in the Authorization: Bearer <token> header. Contact support@9squid.com to obtain one. Bulk Loan Upload A workflow that allows an originator to submit multiple loan tapes in a single job, each with its own upload URL and independent status tracking.

​
C

Convexity A measure of the curvature of the relationship between bond prices and interest rates. Used in ALM analytics to capture interest rate sensitivity beyond duration. Credit Card Loan One of the supported loan tape types on 9Squid. Others include Auto, Personal, Mortgage, Student, and Business.

​
D

Deal A structured finance transaction submitted by an originator. A deal begins with a loan tape upload and progresses through review, approval, and securitization. Deal Room A secure document workspace within a deal where originators upload supporting materials (W9 forms, legal documents, etc.) for investor and platform review. Deal Status The lifecycle state of a deal. Possible values: DRAFT, IN_REVIEW, QC_COMPLETED, APPROVED, REJECTED. Duration A measure of a bond or pool’s sensitivity to interest rate changes — specifically the weighted average time to receive cash flows. Used in ALM analytics.

​
E

Eligibility Rules Underwriting criteria configured per deal type that determine whether individual loans pass or fail Selection Criteria validation. EVE (Economic Value of Equity) A measure of how the present value of a portfolio’s equity changes under interest rate stress scenarios. Part of ALM analysis.

​
I

IOI (Indication of Interest) A non-binding expression of intent by an investor to participate in a deal. Submitted before a formal subscription commitment. Investor A platform role that provides access to the deal marketplace, subscriptions, allocations, portfolio reports, and analytics. Cannot access originator endpoints.

​
L

Loan Tape A structured data file (CSV or XLSX) containing details of individual loans in a pool — loan IDs, balances, rates, terms, borrower attributes, and more.

​
N

NII (Net Interest Income) Sensitivity The impact of interest rate changes on net interest income over a defined horizon. Part of ALM analysis on the 9Squid platform.

​
O

Originator A platform role for entities that submit loan tapes, manage pools, and track deals through the review and approval lifecycle. Cannot access investor endpoints.

​
P

Pool A collection of loans grouped together for securitization. Pool analytics provide aggregate statistics across all loans in the pool. Pool Analytics Aggregate statistics on a securitization pool: weighted averages (rate, term, LTV), delinquency breakdown, geographic distribution, and more.

​
Q

QC (Quality Control) A platform review step that validates the loan tape data against format, completeness, and consistency standards. A deal in QC_COMPLETED status has passed this check.

​
S

SC (Selection Criteria) An eligibility validation run that checks each loan in a tape against underwriting rules. Results include pass/fail status and exception detail per loan. Securitization The financial process of pooling loans and issuing securities backed by their cash flows to investors. Subscription A formal investor commitment to participate in a deal at a specific tranche and amount, following an IOI.

​
T

Tranche A portion of a deal with defined risk, return, and seniority characteristics. Investors subscribe to specific tranches. Senior tranches have lower risk and return; junior tranches have higher risk and return.

​
V

VaR (Value at Risk) A statistical measure of the maximum expected loss over a given time horizon at a given confidence level. Part of ALM stress testing on 9Squid.

​
W

Webhook A real-time HTTP notification sent to your server when a platform event occurs (e.g. deal approved, SC completed, trade settled). See the Webhooks guide.