1. Introduction

Capital markets are close to the ground zero of blockchain adoption: crypto-currencies, which were initially intended for easing digital intended to ease the payment leg of remote transactions between parties. Crypto-currencies have since morphed into an asset class of their own, methods of creating . Creating credit, markets market analysis and forecasting for crypto-currencies has borrowed heavily from existing capital markets theory and practice. Many Distributed Ledger Technology (DLT) based capital markets based use cases and some production systems have been created, both in the permissioned and non-permissioned arenas. The advantages of DLTs, including creation of a mutual source of truth between parties that do not completely trust each other , and automated business logic through smart contracts are drivers for adoption in capital markets. Appropriate levels of transparency between counterparties, traceability and ease of regulatory oversight are additional advantages. 

Enterprise adoption has run into multiple challenges: operational deployment at scale across multiple organisations, integration into existing enterprise infrastructure as well as two-way bridges to off-chain data sources are some.  Further, the change has to be implemented in a heavily regulated environment consisting of multiple stakeholders from a variety of functions like legal, IT security, compliance and third party risk control. It is the aim of the capital markets SIG to bring together practitioners from all affected business functions to discuss various implementation aspects of the technology as it relates relating to Hyperledger based DLTs. This needs collaboration between business and technology. Both groups need to learn from each other as well as find common ground to solve problems. The mission of the capital markets SIG is to provide such a platform and a safe-space for surfacing solutions and challenges.    

1.1. Mission

The Capital Markets Special Interest Group (CMSIG) represents industry professionals working together to study how Hyperledger DLTs interact with capital markets use cases. Issuance and trading of instruments to continued market-making, management of risk, program-trading, standards, regulations, capital requirements, traceability, post trade settlement, custody including corporate actions for capital markets. This group also explores architecture, identity and performance related considerations specific to capital markets and DLTs. Business and technology professionals from the capital markets world come together in this SIG to discuss, brain storm and learn from each other. 

1.2. Goals

As we 

2. Special Interest Group Title

The name of this Special Interest Group shall be the Under the different topic groups, led by subject matter experts; we will work on documents, diagrams, presentations, implementations or road maps of solutions. For existing projects, as well as outputs please see this link. 

As we collaborate, all output will be made available in the open. For ease of discovery by new comers and others, this material will be annotated and labeled with keywords for easy searching. The aim is to  If any code is produced, the output will be easily downloadable from open-source . Documentation and deployment will be made as friction-less as possible. SIG members who are in touch with practitioner groups as well as working groups, the technical steering committee and other SIGs will either bring knowledge of methods and practice from such groups or push out our findings to these groups to create synergy in the Hyperledger ecosystem.   

2. Special Interest Group Title

The name of this Special Interest Group shall be the Hyperledger Capital Markets Special Interest Group. Additional appropriate name references shall be:

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• Identifying related proofs of concepts, current pilotpilots, use cases and functional architecture in capital markets;

• Sharing stories of successes, failures, opportunities and challenges;

• Identifying conferences or other opportunities to connect face to face, as well as submit talks or present as a group at an event.

The CMSIG may form subgroups or task forces to support, emphasize, or promote any of those items listed above. For a further exploration of scope look at this link.

4. Work Products

The  initial work products will include a set of documents describing Capital Markets use cases, White Papers, Technical Solutions for blockchain technology.  This will be an inventory of example use cases which may suggest Capital Markets applications that are built or could be built using Hyperledger. The Capital Markets-sig may also host in-person meetings as well as presentations to accelerate the Special Interest Group's mission.

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Hyperledger SIGs are open and global communities where anyone from anywhere can and should be able to participate, contribute, and access tools and information.  For example, this means that even with meetings that are held via teleconference, we have to involve those not on the calls who are online. Best practice in an open and global community is to keep in mind time zone differences of the group participants and make sure to include non-meeting participants in group discussions and decisions by active use of the mailing list, the wiki and Rocket Chat. All SIGs must adhere to the Hyperledger Code of Conduct and Anti-Trust Policy (see below) during meetings:

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CMSIG membership shall be free and open to members of the community who have an interest in issues as they relate to the SIG topic technologies in general, and blockchain technologies. SIG membership is established by subscription to the mailing list.

All participation in the groups activities is voluntary. It is perfectly fine to listen in to a group and do nothing. Of course active contribution is our goal, but it is not a requirement for membership.

Anyone can propose agenda items, activities, and work products. In work products, the only requirement is there's enough buy-in from community members to want to volunteer to complete the product.

7.2 Governance

Governance of the CMSIG shall be managed through its membership in accordance with the guidelines and overriding jurisdiction of Hyperledger leadership.

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• Facilitating the group and helping ensure that the mission statement and goals are observed and met

• Scheduling and facilitating regular General Meetings open to all CMSIG membership

• Developing and distributing meeting agendas at least one business day before the scheduled meeting

• Ensuring that all group members have the opportunity to participate in decisions and provide input even when not attending a meeting. SIG communities are global and a chair should make efforts to ensure all are included in the community’s activities. This can be done by ensuring meeting notes are shared after calls and any major decisions are shared on the mailing list.

• Ensure recordings/minutes are taken during meetings which captures the discussion and includes a list of meeting participants, shared post meeting, and are added to the SIG wiki page

• Manage the SIG wiki page

• Generate Special Interest Group Quarterly Updates to present to Hyperledger POC in a timely manner and communicate regularly on any concerns or questions related to the SIG

• Serving as a proxy and ambassador for CMSIG membership (as appropriate)

• Enforcing adherence to the Hyperledger Code of Conduct and communicating the Anti-Trust Policy

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All CMSIG membership meetings are placed on the Hyperledger Community Calendar. To ensure that a cancelled meeting is removed from the calendar, the person leading the meeting shall send a meeting cancellation request to zoom@hyperledger.org.

Additionally, a meeting cancellation notification shall be made to CMSIG membership through both the mailing list and chat channels.

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