Derivnex Completes First OTC Swap Transaction on Canton Network
Derivnex has completed the first over-the-counter (OTC) swap transaction using the Canton network in collaboration with DRW and Marex. The trade is a total return swap referencing S&P Dow Jones Indices' iBoxx USD Liquid Investment Grade Index, which was tokenized by Kaiko on Canton. This marks the debut of Derivnex's platform for institutional derivatives lifecycle management on-chain. The transaction utilizes smart contracts to provide DRW and Marex with a synchronized record throughout the trade’s life cycle, streamlining processes that traditionally require multiple systems and bilateral communication. The use of S&P DJI's tokenized index demonstrates how traditional benchmark infrastructure can integrate into digital workflows while maintaining governance standards. Derivnex aims to expand its focus on equity and index derivatives, with future plans including integration with digital cash and collateral management within the same infrastructure as trades.
Tickers: $MARX.OLD1
Topics: blockchain index derivatives institutional finance OTC swaps tokenization
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Part of the story First On-chain OTC Swap Referencing Tokenized Benchmark Executed on Derivnex (2 articles)