Title, cash, and rules on one settlement layer.
4ormEx is the Trading surface inside the 4orm Finance neutral settlement layer. Orders match, eligibility is checked pre-trade, and the asset leg, cash leg, and supervisory record write to the canonical ledger in one commit. There is no separate clearing or settlement step.
What travels in a single commit.
Title (Asset leg)
The token represents the legal interest. The canonical ledger is the registry of record. Transfer is finality of title, not a promise to update an external book later. Investors see one record. Regulators see one record. No reconciliation between systems.
Cash (Cash leg)
The cash leg is a tokenized commercial-bank deposit. The bank issues it under its own banking authorizations. 4orm does not take deposits, does not touch CDIC funds, and needs no banking or trust licence. The deposit token is the bank's liability, settled inside the bank's perimeter.
Rules (Supervisory leg)
Eligibility is checked before the match. Jurisdiction, registration, and limits gate the order. A read-only supervisory feed gives the regulator the same record at the same time, without copying it. Privacy-preserving by design.
One write. Three records. All-or-none.
The three legs do not commit independently. They commit as one write to the canonical ledger, or none does.