Is it possible to do clipping by recording live content and use it later on?

q.air allows to record streams with the optional stream recording feature that provides cue, rec, split, stop controls to generate clips out of any input or output stream. The content is stored either as MP4 files or in q.air Premium as MXF-based broadcast standard files for later use. Recorded content shows up in the media asset management of q.air and can be trimmed and scheduled for playout.