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Blockchain solution for Derivatives post-trade

Fragmos Chain solves post-trade inefficiencies for Derivatives. It drives 50%+ post-trade cost reductions through the elimination of inconsistencies, redundancies and manual tasks such as reconciliations, confirmations or disputes.

Key features

  • Reliance on R3’s Corda Distributed Ledger Technology for its trust, privacy, modelling of finance workflows capabilities
  • Use of the new data model standard for Derivatives, ISDA CDM, for full convergence between parties’ data and processes
  • Upload of parties’ trade data and automatic translation into CDM
  • Powerful reconciliation between parties’ trades, so that trade data are 100% reconciled
  • Access via API and Web portal

Description

OTC Derivatives post-trade suffers from inefficiencies such as cumbersome reconciliations, frequent and unsolved mismatches and regulatory reporting divergence. The root cause is the inconsistencies between counterparties' data and processes. Fragmos Chain's solution relies on Private Blockchain (aka Distributed Ledger Technology) to foster full convergence between counterparties.

Functionalities include:

  • Reconciliation between counterparties' trade data, setting a golden source of single and immutable data, recorded in the Blockchain ledger.
  • Computation of all lifecycle events, from cash-flows and trade amendments to Corporate Actions and regulatory reports, based on reconciled trade and market data.
  • Connectivity to the whole ecosystem, including financial institutions (sell-sides and buy-sides), service providers (asset servicers, calculation agents) and regulators.

Company description

Fragmos Chain is a start-up founded in 2019 by C-level Investment Bankers, technologists, and Blockchain specialists. We develop a Blockchain platform for new generation Derivatives post-trade, which creates a golden source of truth and automates all lifecycle events between banks.

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Company: Fragmos Chain
Category: Market Data & ResearchSettlement & ReconciliationCrypto AssetsTrading
Released: 01 September 2020