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The governing document of the Capital Markets SIG is the charter. This preliminary charter should be ratified by members after review by the Hyperledger team. 

Description

The Capital Markets Special Interest Group (CMSIG) represents industry professionals working together to study how Hyperledger DLTs interact with Capital Markets use cases. This covers issuance and trading of instruments to continued market-making, management of risk, program-trading, regulations, capital requirements, traceability, post trade settlement, custody including corporate actions and more. This group also explores architecture, identity and performance related considerations specific to Capital Markets and DLTs.



Introduction 

Capital Markets are a way to connect investors and borrowers for long term provision of capital. A way to invest in enterprises, so that funds from investors are put to productive use. Investors or lenders can be individuals or other entities.  Borrowers are companies and governments. Although the term market applies to exchanges and associated infrastructure; financial intermediaries like banks connect the various parties together. Investors are compensated directly by borrowers or are rewarded by appreciation of long-term securities. Capital Markets include the stock market and the bond market dealing with equities, bonds, and credit markets. They can also include derivatives.   Securities are a way to tokenise underlying assets and have had a long history.

This large vertical is not currently covered by any SIG in Hyperledger.  Finance is the Ur Use Case for blockchain.

The Capital Markets SIG will focus on Markets which deal in securities that are fungible, open, regulated heavily and have a lot more flow and participation. Please see the scope section below to get a better feel for the Capital Markets proposal.  

Scope 

The Capital Markets SIG studies how Hyperledger DLTs interact with Capital Markets use cases.  From issuance and trading of instruments to continued market-making, management of risk ; program-trading; regulation; capital requirements; traceability; pre-trade analysis and valuation; post-Trade settlement with custody; bookkeeping and corporate actions. Architecture, identity, performance related considerations specific to Capital markets and DLTs are questions to be answered by this SIG. In the beginning we attempt to develop a taxonomy of the domain by viewing it in multiple dimensions.

We may not discuss commodities and currency markets; although there are integration points with respect to hedging.  No macro economic or general policy discussions. Payment systems remain a question mark. Retail banking also a question mark. Even if we do not discuss these, we may have to build bridges to them.

Just like the Healthcare SIG, this might have a number of sub-groups to be decided by the participants and by the natural sub-domains, but the Capital Markets SIG can remain the overall umbrella over these sectors. The use of DLTs which is a collaborative and unifying technology unify the sub-domains under the Capital Markets SIG.   

What are the oracles (external sources) needed, pricing/market data, analytics- rules and regulations, continuous KYC and other concerns and emerging trends are also the domain of the Capital Markets SIG. 

The bullet list of items for scope are represented  in the link from the heading. Please go there to  review and change the cope items.

Group Updates


Governance & Coordination


Meetings

All Hyperledger meetings are run covered by the following Antitrust Policy.

Hyperledger Community Calendar and SIG meeting Invite
Online meeting URL
Dial in details
Phone numbers (USA)

Toll-free numbers (USA)
iPhone (one-tap)



International numbershttps://zoom.us/u/bAaJoyznp

Meeting Agendas

Date of the meetingAgenda link

 

2019-07-17

Meeting Notes & Recordings

Date of meetingNotesRecordings

 

2019-07-17

Polls for meeting times (Ends August 7, 2019)

Communication Channels

These are the mechanisms that this working group uses to communicate.

Mailing List

capital-markets-sig@lists.hyperledger.org

Chat Channel

If you are logging into chat for the first time

Chat channel 

Activity of the Group

Links to Ongoing Work

Propose new Projects

Links to Completed Work

How to Get Involved

You can

  1. Propose new projects
  2. Work on existing proposals
  3. Just lurk and contribute to discussions

Links to External Resources

Members


#NameAssociationContactTo be moved into member directory (optional)

1

Vipin BharathanDLT LLCvip@dlt.nycVipin has many years of experience in Capital Markets implementing front-to-back systems concentrating on Risk and P&L systems, and structuring. Have been working on applied DLT for about 4 years. 
2Jonathan LeviHACERA, The Unbounded Networkjonathan@hacera.com

Founder of HACERA and the Unbounded Network.

Jonathan used his strong background in applied cryptography and mathematics, to financial mathematics and building large-scale trading and risk management systems.

Jonathan transitioned his career in the Financial Services sector (City of London, Hong-Kong and Wall St.) to focus on decentralized and distributed systems, also in highly regulated markets.

3Kelly MathiesonDigital Assetkelly.mathieson@digitalasset.com

Head of Enterprise Solutions at Digital Asset.  Over 30 years of financial services and capital markets experience, predominantly at J.P.Morgan (Corporate & Investment Bank, Asset Management and Treasury & Securities Services).

4Dixing XuNanyang Technological Universitydixingxu@gmail.comDixing is one of the maintainers of fabric-sdk-py and has two years of experience developing blockchain related applications, currently a research assistant at NTU, Singapore.
5Stanislav LibermanCME Group, Inclirm604@gmail.comStan has 15 years of hands-on experience in Capital Markets technology and spent last 4 years researching and exploring the applications of blockchain and DLT to the domain.
6Bobbi MuscaraLedger AcademyBobbi@LedgerAcademy.comWorking with the Learning and Materials Working Group to assist in documentation and training support for the Special Interest Groups.
7Al BrandtBlocLedgeral.brandt@blocledger.comWorking with Financial Services companies on proof of concepts using Hyperledger Fabric.
8Edmund ToIndustrie&CoEdmund.to@industrie.coSoftware Engineer with commercial experience across a number of blockchain technologies now. Prior to working in tech, experience in investment banking industry with equity and equity derivatives trading and structuring with UBS, Barclays Capital and BBVA.
9

Jane Kenyon


janekenyon@me.com

Extensive experience as Product Manager in Securities Services, Global Custody. Work with clients and technology teams to analyze needs, to define products and strategy and to deliver solutions to market.  Most recently at R3 managing projects and proofs-of-concept.

10Kirthi KCivitas Fintechkirthi@civitasgroup.co.ukTransitioned from Management Consulting to Blockchain Solutions Architecture. Kirthi has 15 year of Business Transformation & IT Change experience in Asset Management and Insurance. Data buff with special interstes in ML, Digital Sovereign Identity and Asset backed securities digitisation.
11James KossUnited Capital Financial Advisersjames.koss@unitedcp.com

Financial audit experience in financial services, banking, and insurance. Successful digital asset analyst and investor. Operate crypto-currency mining operation running 30 Bitmain ASIC processors and two 10 unit GPU rigs on 5 different blockchain networks. Transitioned to enterprise blockchain consulting in 2017. Currently hodling Ether.

12John DeeterBond.Onejde@bond.one
13Teana Baker-TaylorGlobal Digital FinanceTeana@gdf.io

GDF is an industry membership body that promotes the adoption of best practices for digital and crypto assets and digital finance technologies, through the development of conduct standards, in a shared engagement forum with market participants, policymakers and regulators.

14Araby PatchSecuritize Inc.araby@securitize.io

Director of marketing for Securitize, a primary issuance and lifecycle management platform and protocol for digital securities (security tokens) on public and permission blockchains. Securitize is working with IBM on a Hyperledger based projected to tokenize commercial paper. 

15Ron QuarantaWall Street Blockchain Allianceron@wsba.co
16Chris PainterOmnitudechris@omnitude.techCEO of Omnitude.
17Rashad Kurbanoviownit capital and markets, Inc.rashad_kurbanov@iownit.usCEO
18Alex MedanaFinfabrikalex@finfabrik.com

Co-Founder & CEO

19Srinivasan (Murali) MuralidharanState Street Corpsrinivasan.muralidharan99@gmail.comInterests - Finance, post-trade, crypto-currency, tokens. DLT for finance, smart contracts for finance.


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