2019-10-23 Meeting notes
Date
Oct 23, 2019
Attendees
@Vipin Bharathan
@Gary Miller Intain- Software that manages FSI (Financial services Infrastructure)
@Mani Pillai Swapshub CEO
@Ron Quaranta Head Wall Street Blockchain Alliance (WSBA)
@Tong Li IBM Fabric deployment project (Cello) and Fabric Interoperability WG chair
@Santanu Mukherjee
@Kirthi
Goals
Present CDM derivhack in the context of standards around securities trading (mostly post-trade) settlements, events and other data.
Go through status of current projects
Discussion items
Time | Item | Who | Notes |
|---|---|---|---|
2 min | Anti Trust Policy & Code of Conduct | @Vipin Bharathan | |
10 min | Introductions: Welcome new members | All |
|
10 min | #Derivhack and CDM : report from October 16th and 17th | @Vipin Bharathan @Manivannan Pillai | |
5 min | Cash on ledger: spotlight | @Srinivasan Muralidharan |
|
20 min | Status and plans from the project leads/interested members | @Kirthi K @kellycooper.2ds @Srinivasan Muralidharan @Manivannan Pillai @stanislav.liberman @Vipin Bharathan | |
Rest | AOB |
|
|
Recordings:
Please skip initial 10 minutes for the meat of the presentations
A
Notes
AntiTrust Policy and Code of Conduct
All members on call at 10:05 introduced themselves details can be found under attendees
@Vipin Bharathan introduced the concepts around CDM
@Manivannan Pillai gave an presentation around CDM and concepts, mainly from the vantage of Swapshub efforts
How is CDM different from FpML-(uses XML) (uses JSON, generates composable products, events, focuses on off chain standards for hashing (CDM hash) so data can be made interoperable between chains and systems)
@Ron Quaranta asked about the hash (which reveals that the transaction hash needs to conform to CDM standard),
@Ron Quaranta also asked about whether any production systems adopted CDM. @Manivannan Pillai responded that the Contractual Product is the most complete, but no production systems yet- However big organisations are members of ISDA (big banks-Barclays, BNP Paribas, JPM, Citi etc. DTCC, ISMA also participated in this effort)
Creates a background for on-chain storage of data (especially extraction of lineage)
Aids in legal arbitration and clear evidence about contracts for regulators and in case of dispute- allows easy access to this data
Briefly touched upon the status of digital assets trading, settlements and custody solution being built by Swapshub under CDM
Extension of CDM from Contractual products to other types of securities (Equities, credit products, FX etc.) currently only functions as underlying
How standards help interoperability.
@Manivannan Pillai will share appropriate slides after a consultation with @Vipin Bharathan
More detail can be found in recording.
We could not go into cash on ledger details but touched on the subject briefly
We went into status of existing projects; since most of the project owners were not present we went through several projects and @Ron Quarantaexpressed interest put himself in as collaborator on a couple of projects, namely tokensisation and regulation.
We need to discuss how to collaborate further on these.
Future talks
Ideas for upcoming talks,
The Semantic web and Capital Markets- Graph databases- what effects will they have on Capital markets