How a live-extract Generation-3 Investment book of record works

It has two concepts. One is time and one is state. So time, which point in time do you want the portfolio at? If you request a range, a time series, it's going to do a request for each time in that time series and then you select the state. State meaning transactions at what certainty level should be included or not. And the eyeball then goes out and it fetches all transactions since beginning of time and it then calculates positions and cash per that date. There are two ways to model states between investments and cash. So the original definition of investment Book of Record or IBorgeneration 3 that was published in 2014, it uses one state for both of them, which means you can't combine a preliminary cash like a subscription with a state further along. On the investment side, in Limina specifically, you have two states, one for cash and one for the investments, and you can combine them.