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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 may 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


Coordination

RoleNameContact
SIG Chairvip@dlt.nyc
SIG Vice ChairNatalia Garcia natalia.garciagonzalez@gmail.com
Hyperledger POCKaren Ottonikottoni@linuxfoundation.org

Meetings

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

Info


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 Notes & Recordings (also contains Agendas)

Polls for meeting times (Ends August 7, 2019)

Results as of 2019-07-29 are below The final results will be posted as of 2019-08-07- after about two weeks this will be moved into a separate page.Image Removed


Communication Channels

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

Primary dependency is setting up an LFID.

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

Projects: propose and track

Links to Completed

Work

Tasks

Polls for meeting times (Ends August 7, 2019) - ended August - results available 

We collectively agreed to have the meeting start at 10 am bi-weekly Wednesdays since this would allow for easier US West Coast Participation.

We realize that the time zones for Japan and some of the APAC is late at night. We continue to look for a solution to this problem.

Insert links to any work that has been completed by this special interest group 

How to Get Involved

You can

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

Links to External Resources

Euroclear sponsored work from Oliver Wyman on Capital Markets: BlockChain-In-Capital-Markets[1].pdf

Euroclear conference on collateral management- 2018: Video

Walker, Martin, Bridging the Gap between Investment Banking Architecture and Distributed Ledgers (March 22, 2017). Available at SSRN: https://ssrn.com/abstract=2939281 or http://dx.doi.org/10.2139/ssrn.2939281


Members

Please go to the member page for details



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