Benchmark price
Benchmark = Face Value × (1 + ROI)elapsed, where elapsed runs from the lot's own activation date and ROI is implied by the locked recall figures.
SCF → CF cascade
Any SCF position unsold beyond 3 government working days (minter's own country calendar) is bought by the concerned CF at the then-current benchmark.
Market-maker positions
Monthly P&L pool
Realised timing gains/losses are shared across the FTR-side Corpus Funds pro-rata to fund value. GDP-side funds are excluded.
Minter buyback + cancel
Minter-only. Bought-back units are cancelled and leave circulation; the lot's activated count is reduced.