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Settlement Cycles

Settlement cycle lifecycle visibility (read-only; visible to the asset's issuer only). Settlement cycles batch interbank redemptions for cash settlement. Main lifecycle: OPEN → LOCKED → CASH_SETTLED → CLOSED. CLOSE_PENDING and ABORT_PENDING are transitional statuses, and MANUAL_REVIEW marks a cycle that needs operator attention. ABORTED is a terminal failure status, reachable only from LOCKED or MANUAL_REVIEW. Cycle transitions are driven by the platform settlement scheduler, not by bank-initiated requests.