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Distributed Ledger Technology for Over-the-Counter Trading

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This presentation provides some insights into creating a platform for over-the-counter trading using the blockchain technology.

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Distributed Ledger Technology for Over-the-Counter Trading

  1. 1. DISTRIBUTED LEDGER TECHNOLOGY FOR OTC TRADING Vitaliy Chernov VP Blockchain Practice, Blockchain Trainer at Altoros
  2. 2. How it works now ▪ Trade proposals / indicated quotes: by phone or electronic messaging systems provided by third parties ▪ Payment/asset settlement is processed between counterparties directly: No clearing platform ▪ No shared records keeping system ▪ Additional confirmations of deals concluded between parties are often necessary ▪ No history of deals = no market analysis Source: slideplayer.com
  3. 3. How it will work: Decentralized Architecture • The consortium of several equal Organizations • Communicating in a Common Channel of Hyperledger Fabric • Kafka-Orderer has a configurable structure • No central authority: each Organization controls its own Kafka-cluster Kafka- Orderer Bank “A” Bank “B” Bank “C” Bank “D” Cluster B Cluster C Cluster D Cluster A
  4. 4. How it will work: expanding network Kafka- Ordere r Bank “A” Bank “B” Bank “C” Bank “D” Bank “E” • The consortium of several equal Organizations • Communicating in a Common Channel • Kafka-Orderer has a configurable structure • No central authority: each Organization controls its own Kafka-cluster
  5. 5. How it will work: expanding network Kafka- Ordere r Bank “A” Bank “B” Bank “C” Bank “D” Bank “E” Bank “F” • The consortium of several equal Organizations • Communicating in a Common Channel • Kafka-Orderer has a configurable structure • No central authority: each Organization controls its own Kafka-cluster
  6. 6. How it will work: “private collections” function Dashboard: EUR overnight DEPO Lender ID Amount_Lend Rate Amount_Borrow Borrower ID HRSZ 10,000,000 1.000% BRUC 2,000,000 0.875% TICY 5,000,000 0.750% MUNC 1,000,000 0.625% 0.500% 2,000,000 NYBO 0.375% 1,000,000 DUCE 0.250% 5,000,000 SWIZ 0.125% 10,000,000 SBRE Trade ledger Timestam p Amount Rate Borrower Lender 10:00:01 5,000,000 0.500% ##### ##### 10:00:05 3,000,000 0.375% ##### ##### 10:00:09 2,000,000 0.250% ##### ##### 10:00:13 10,000,000 0.375% ##### ##### 10:00:17 2,000,000 0.500% ##### ##### 10:00:21 1,000,000 0.750% ##### ##### “private collections”
  7. 7. Aftermarket reports Aftermarket clearing Value Dates: Node: TICY 9/7/2018 9/8/2018 Cash out Cash in Counterparty (5,000,000) NYBO 5,000,000 (3,000,000) DUCE 3,000,000 (10,000,000) SWIZ 10,000,000 5,000,000 SBRE (5,000,000) 3,000,000 HRSZ (3,000,000) 1,000,000 BRUC (1,000,000) 1,000,000 MUNC (1,000,000) TOTAL, EUR (18,000,000.00) 10,000,000 8,000,000 Closing balance (8,000,000) 9/7/2018 Interest netting, EUR Receivable Payable Counterparty Value Date 68.49 NYBO 9/8/2018 30.82 DUCE 9/8/2018 68.49 SWIZ 9/8/2018 85.62 SBRE 9/8/2018 82.19 HRSZ 9/8/2018 23.97 BRUC 9/8/2018 17.12 MUNC 9/8/2018 TOTAL, EUR 167.81 208.90 netted, EUR (41.10)
  8. 8. What is inside the Chaincode Function “Query” compiles the result from two parts: • Public data • Private collections Trade ledger Timestam p Amount Rate Borrower Lender 10:00:01 5,000,000 0.500% NYBO TICY 10:00:05 3,000,000 0.375% 10:00:09 2,000,000 0.250% 10:00:13 10,000,000 0.375% 10:00:17 2,000,000 0.500% 10:00:21 1,000,000 0.750% TICY BRUC @Altoros
  9. 9. What is inside the Chaincode • Public • Private The data stored separately:
  10. 10. Non-financial use case: customer reward
  11. 11. Blockchain for Enterprise. Private Blockchain Networks: Architecture and Functional Use COPENHAGEN, 10-Nov’2018 1-Day Business Course JOIN NOW
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