# OpenForex glossary

Working definitions for reading the OpenForex literature and technical documentation.

## Publication status
Published by the OpenForex Society, the standard-setting core of the OpenForex Foundation, as part of its established standards service to the open standards community.

## Version
0.2.0

## Last Updated
2026-09-24

## Core concepts
| Term | Meaning in this wiki |
| --- | --- |
| OpenForex | The shared standards and knowledge ecosystem described by this project |
| Foundation | The institutional stewardship body with the OpenForex Society at its core |
| Society | The standard-setting core of the OpenForex Foundation and authority for OpenForex Standards |
| TVX | Third Value: the neutrality principle and common-reference relationship |
| QASH | Quantification of Asset Settlement & Holding; the unit described in the literature |
| Neutrality | A design objective concerning reference methodology and governance, not a result proved by naming a unit |
| Reference unit | A common unit used to express otherwise different forms of value |
| Unit of account | A unit in which amounts, prices, or obligations are expressed |

## Technical terms
| Term | Meaning in this wiki |
| --- | --- |
| OFS | OpenForex Stack: the technical separation of responsibilities |
| Kernel | The deterministic computation boundary |
| Oracle | The boundary through which external observations enter a calculation |
| Snapshot | A retained set of observations and metadata for one identified context |
| Quote direction | The relationship between a quoted numerator and denominator unit |
| Determinism | Identical defined inputs and policy produce identical outcomes |
| Precision | The numeric capacity used during representation and computation |
| Rounding | A declared rule for reducing a numeric result to an output scale |
| Provenance | Information connecting an observation or artifact to its origin |
| Replay | Re-execution using preserved inputs and the same method configuration |

## Publication and operational terms
| Term | Meaning in this wiki |
| --- | --- |
| Draft | Proposed material that may change and is not ratified |
| Ratification | An authorized, recorded acceptance of a specified revision |
| Conformance | Behavior checked against explicit requirements and identified evidence |
| RFC | Request for comments on a structured proposal |
| Valuation | Determination of a reference value under a stated methodology |
| Conversion estimate | A calculated relationship that may not be executable |
| Settlement | Fulfilment of an obligation under a defined operating framework |
| Reserve | The supporting asset layer of the QASH Monetary System |

When a technical specification defines a term more narrowly, cite its exact version. Suggest ambiguous or missing terms through the [contribution guide](?page=seed-content/developers/contribution-guide). Read QASH(?page=seed-content/qash/overview) and the [kernel reference](?page=seed-content/ofs-kernel/1.0.0) for context.