The exchange, term by term.
Plain definitions of the vocabulary used across Dial Peer — for the colleague who just joined the deal, the CFO reading the agreement, or the engineer reading the spec.
Meet-me room
Originally the physical room in a carrier hotel where networks cross-connect. Dial Peer applies the model to voice trading: one place where every carrier interconnects once and reaches everyone.
Bilateral agreement
A direct contract between two carriers covering rates, interconnection, credit, and settlement. The traditional unit of wholesale voice — and its biggest source of overhead.
Hubbing
Sending traffic to an intermediary that resells routes at a blended rate. One trunk, but the hub chooses the suppliers and keeps the margin between you and the market.
Voice exchange
A marketplace where many carriers buy and sell termination under one standard agreement, one price format, and a central clearing function. Dial Peer is a voice exchange with a clearing layer.
Wholesale termination
Completing another operator's calls to their destination for a per-minute rate. The product traded on the exchange.
Tech prefix
A short digit string prepended to the dialed number that selects a specific seller's route over a single trunk. On Dial Peer, every offer carries a tech prefix — switching suppliers is a dial plan edit.
Interconnect
The SIP connection between a member's network and the exchange. On Dial Peer you build exactly one, and every counterparty is reachable through it.
NNI
Network-to-network interface: a private, direct interconnection between two networks, typically at a carrier-neutral facility. Dial Peer offers direct NNI at 22 locations for members who keep traffic off the public internet.
E.164
The international numbering format (country code + national number) used for every destination on the exchange — what remains of the dial string after the tech prefix is stripped.
A-Z rate sheet
A price list covering every destination in the world, A to Z. On the exchange, A-Z sheets publish in one normalized format that loads directly into routing and billing systems.
LCR
Least-cost routing: the engine in a carrier's switch that picks the best route per destination. On Dial Peer your LCR consumes the whole market as one file and expresses its choices as tech prefixes.
ASR
Answer-seizure ratio: the percentage of call attempts that are answered. The primary quality signal on a route — published per route on the exchange from live traffic.
ACD
Average call duration. Abnormally short ACD on an answered route is a classic symptom of quality problems or false answer supervision.
IQ (Index of Quality)
Dial Peer's per-route quality rating, computed from the most recent live traffic. Buyers can route by price, by IQ, or both.
FAS
False answer supervision: fraud where a route signals 'answered' before (or without) the called party actually picking up, billing minutes that never happened. The exchange profiles answer-time and duration patterns to flag it.
CLI / NCLI route
Routes classified by whether the caller's number (calling line identity) is delivered intact. CLI routes carry the original number; NCLI routes don't. Sold and monitored as distinct route types on the exchange.
CDR
Call detail record: the per-call record of time, duration, route, and rate. On the exchange, one CDR set rates both sides of every trade — the end of two-sets-of-books disputes.
Clearing
The exchange standing between buyer and seller on every trade: rating the traffic, netting the positions, and guaranteeing the settlement. On Dial Peer, carriers never settle with each other — only with the exchange.
Payout cadence
The settlement frequency a seller chooses — daily (opt-in), weekly, or a custom cycle. The seller's choice, changeable as treasury needs change.
Payout rail
The payment method a payout travels on. Dial Peer offers six: ACH, FedWire, SWIFT, SEPA, USDC, and USDT — fiat and stablecoin side by side.
Non-recourse
Settlement that cannot be clawed back from the seller. Once a trade clears on Dial Peer, the receivable — and any default on it — belongs to the exchange, not the seller.
Credit facility
A buyer's underwritten postpaid arrangement with the exchange. Approval is subject to credit insurance underwriting; terms are sized to traffic profile, history, and approved coverage.
Credit insurance
Coverage from trade credit underwriters on every postpaid exposure the exchange carries. In a buyer default, insurance absorbs the loss — the mechanism that makes seller payouts non-recourse.
Prepay membership
Buying from a funded balance instead of on terms. Same exchange, same routes, immediate access — and the standard path to building the history that supports a later facility application.
Segregated settlement
Member settlement funds held and processed separately from the exchange's own operating funds.
Private room
A two-party deal space on the exchange: rates and volumes negotiated directly and visible only to the parties, with clearing, cadence, and credit protection identical to the open market.