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

Description

The Capital Markets Special Interest Group (CM-SIG) 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 and more. This group also explores architecture, identity and performance related considerations specific to Capital Markets and DLTs.

Introduction and Scope

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 knits together these 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.

Group Updates

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 numbers	https://zoom.us/u/bAaJoyznp

Meeting Agendas

Date of the meeting	Agenda link

Meeting Notes & Recordings

Date of meeting	Notes	Recordings

Communication Channels

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

Mailing List

capital-markets-sig@lists.hyperledger.org

Chat Channel

Chat channel

Links to External Resources

Members

#	Name	Association	Contact	To be moved into member directory (optional)
1	Vipin Bharathan	DLT LLC	vip@dlt.nyc	Vipin has many years of experience in Capital Markets implementing and running front-to-back systems concentrating on Risk and P&L systems, now working on applied DLT.
2	Jonathan Levi	HACERA, The Unbounded Network	jonathan@hacera.com	who transitioned his banking career to focus on decentralized and distributed systems, also in highly regulated markets.
3	Kelly Mathieson	Digital Asset	kelly.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).
4	Dixing Xu	Nanyang Technological University	dixingxu@gmail.com	Dixing 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.
5	Stanislav Liberman	CME Group, Inc	lirm604@gmail.com	Stan 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.
6	Bobbi Muscara	Ledger Academy	Bobbi@LedgerAcademy	Working with the Learning and Materials Working Group to assist in documentation and training support for the Special Interest Groups.
7	Al Brandt	BlocLedger	al.brandt@blocledger.com	Working with Financial Services companies on proof of concepts using Hyperledger Fabric.
8	Edmund To	Industrie&Co	Edmund.to@industrie.co	Software 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.
10	Kirthi K	Civitas Fintech	kirthi@civitasgroup.co.uk	Transitioned 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.
11	James Koss	United Capital Financial Advisers	james.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.
12	John Deeter	Bond.One	jde@bond.one
13	Teana Baker-Taylor	Global Digital Finance	Teana@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.
14	Araby Patch	Securitize 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.
15	Ron Quaranta	Wall Street Blockchain Alliance	ron@wsba.co
16	Chris Painter	Omnitude	chris@omnitude.tech	CEO of Omnitude.
17	Rashad Kurbanov	iownit capital and markets, Inc.	rashad_kurbanov@iownit.us	CEO
18

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