Both pools are trading above par. JAAA's tokenPrice oracle reflects cumulative yield accrual consistent with a AAA-rated CLO strategy. JTRSY shows NAV per share marginally above issuance price, in line with its short-duration treasury exposure. No divergence detected between onchain tokenPrice and the expected administrator NAV strike.

Shares outstanding across both pools indicate continued institutional inflows since inception. The ERC-4626 vault architecture reflects each new deposit immediately in totalIssuance, giving the ops team real-time subscription visibility — ahead of the T+1 transfer agent confirmation required in a traditional fund structure.

• Run NAV oracle reconciliation against administrator report: confirm tokenPrice aligns with fund accountant NAV strike within agreed tolerance
• Review ERC-7540 requestRedeem queue for unfulfilled redemptions: match against available liquidity before T+1 custodian window closes
• Reconcile MTD deposit flows against prime custodian bank statement confirmations
• Confirm transfer agent share registry alignment with onchain totalIssuance

Centrifuge's ERC-7540 introduces a two-phase request-and-fulfill settlement cycle that mirrors T+1/T+2 conventions in traditional fund administration. The requestRedeem queue carries the same operational urgency as a pending redemption gate. Unfulfilled requests accrue risk and must be cleared each morning before the NAV strike window opens.