Three-Layer Data Architecture
Every dataset and output on DCM Core is classified into one of three distinct layers. Conflating these layers is the primary source of credibility failure in institutional-grade modeling systems.
Real-World Anchors
Datasets sourced directly from official Eurosystem publications. Not modeled, not inferred. Can be independently cross-checked by third parties at the source URLs listed below.
DCM Constructed Indices
Internal indices (HQLA Velocity, EU Rail Fragmentation Index, DCM Trust Score) constructed by DCM Core research teams using calibrated methodological frameworks. Not independently audited.
Controlled Sandbox Environment (Segregated)
The Monte Carlo engine, scenario stress tests, and CSV-based divergence parsers operate in a fully isolated sandbox. They do not feed into Layer 1 data and do not alter verified external outcomes. Results are illustrative only and must not be used for regulatory filings or academic citations.
Verified External Data Sources (Layer 1)
The following datasets are directly referenced in DCM Core research and are publicly accessible at the URLs provided. These constitute the sole verified anchors of DCM empirical analysis.
| Institution | Dataset / Publication | Used For | Access | Type |
|---|---|---|---|---|
| European Central Bank | TARGET2 Transaction Statistics — Quarterly Consolidated Reports | Weekend liquidity gap baseline; NCB operating window modeling | ECB TARGET2 Statistics | REAL |
| Bank for International Settlements | BIS Working Paper No. 1112 — "Wholesale CBDC and Tokenized Deposits" | Institutional framework for tokenized settlement modeling | BIS WP-1112 | REAL |
| European Central Bank | ECB Working Paper No. 2840 — "Tokenization and DLT in Euro Payment Markets" | EMT/Tokenized Deposit comparative analysis; MiCA overlay modeling | ECB WP-2840 | REAL |
| European Banking Authority | EBA Clearing — STEP2 & RT1 SCT Inst Settlement Monitoring Reports | SCT Inst SLA latency range baseline across Eurozone jurisdictions | EBA Payments Data | REAL |
| ECB Statistical Data Warehouse | SDW — Payment Statistics (PSS) & Overnight Rates (€STR) | Liquidity velocity and collateral spread calibration | ECB SDW | REAL |
Theoretical Index Models (Layer 2)
| Index Name | Methodology | External Audit | Type |
|---|---|---|---|
| HQLA Velocity Index | Modeled from BIS HQLA definitions + DCM collateral flow assumptions. Not empirically measured. | Not independently audited | MODELED |
| EU Rail Fragmentation Index | Composite constructed by DCM research. Based on EBA settlement data + qualitative jurisdiction scoring. | Not independently audited | MODELED |
| DCM Trust Score | Internal multi-factor model calibrated against historical DLT default events (2021–2025). | Not independently audited | MODELED |
Explicit Methodology Limitations
- No live API feeds: All external data is referenced from published static reports. DCM Core does not operate live data pipelines connected to ECB, BIS, or EBA production systems.
- Simulation segregation: The Monte Carlo stress-test engine and CSV divergence parsers in the Validation Center are illustrative sandboxes. They do not modify Layer 1 data and produce no independently verifiable outputs.
- Model circularity risk: DCM-constructed indices (Layer 2) are calibrated by DCM researchers and have not undergone independent third-party statistical audit. They should not be cited as empirical findings in academic or regulatory contexts.
- SLA latency estimates: SCT Inst latency ranges (<3s – 15s+) are inferred from EBA Clearing monitoring reports. Actual SLA compliance data at individual bank level is not publicly disclosed.
- TARGET2 gap quantification: Weekend exposure gap estimates (expressed in basis points) are derived from DCM modeling assumptions calibrated against ECB quarterly statistics — they are model outputs, not ECB-published figures.
Citation Guidance
When referencing DCM Core research, apply the following distinctions: