par-register

Par Locate

Ask what is reservable for an asset and term. Returns firm supply (exclusive, what a term loan can actually draw), indicative supply gross and net of multi-listing, the best rate, and whether the ask is covered by supply cheap enough to be worth taking. Call this before par_borrow.

Par Borrow

Take an exclusive hold on firm supply for a short TTL. Refuses with InsufficientAttested and the amount that WAS free if the book cannot fill you, so resize and retry rather than treating it as an error. Release what you take. WRITES to the register, so it needs a credential: send it as an Authorization: Bearer header. Without one this refuses and says so.

Par Release

Give a hold back before its TTL. Inventory you are not using is inventory somebody else is refused. WRITES to the register, so it needs a credential: send it as an Authorization: Bearer header. Without one this refuses and says so.

Par Lend

Post a standing consent: the agent's principal offers up to a size, at or above a floor, out to a maximum term. This is the write half of the market, and an agent that can only borrow is half a counterparty. WRITES to the register, so it needs a credential: send it as an Authorization: Bearer header. Without one this refuses and says so.

Par Encumbrance

Read what is claimed against every position on the register: claims outstanding, positions behind them, and the multiplier. No credential required, because this is the public read, and an agent can use it to check a counterparty before dealing.

Par Basis

How far each tokenized stock has drifted from the underlying share right now, net of a round trip, with whether the reference quote is live or a stale close. Use it as a signal: a gap that cannot pay its own fees is not a trade, and neither is a quote the venues disagree about.

Par Events

Everything that has left the register since a ledger position: holds released, holds lapsed, holds delivered into a loan, consents revoked. Pass the `next` you were last handed as `since` to continue; start at 0. ALWAYS compare the returned `instance` against the one you saw before, because if it changed your cursor does not apply and you must restart from 0. An empty `events` with an unchanged `head` means nothing has left, which is different from not knowing.