Copy link
Increase text size
Decrease text size
Link copied

ISDA teams up with Digital Asset to standardize derivatives data

Wed, 10 Apr 2019, 05:31 am UTC

The International Swaps and Derivatives Association (ISDA) is working with New York-based blockchain startup Digital Asset to develop an open-source reference code library to drive the adoption of the ISDA Common Domain Model (CDM).

The ISDA CDM is a solution that aims to tackle the lack of standard conventions in how derivatives trade events and processes are represented. It has been developed in response to regulatory changes, high costs associated with current manual processes and a demand for greater automation across the industry.

According to the ISDA CDM factsheet:

“The ISDA Common Domain Model (ISDA CDM) is a blueprint for how derivatives are traded and managed across the trade lifecycle. Having a single, common digital representation of derivatives trade events and actions will enhance consistency and facilitate interoperability across firms and platforms, providing a bedrock upon which new technologies can be applied.”

The ISDA and Digital Asset are now working on a new tool to assist developers in implementing the ISDA CDM in solutions for trading and managing derivatives via DAML, Digital Asset’s smart contract language that was open sourced on April 4.

“The new reference code library will support the implementation of the ISDA CDM by simplifying and standardizing the process of generating lifecycle events defined in the ISDA CDM,” the official release said.

Digital Asset said that its reference code library complements the ISDA CDM by allowing developers to unambiguously construct lifecycle events with a machine-executable specification. This reference code library specification also allows the ISDA CDM to fully integrate with DAML.

“The ISDA CDM establishes a common set of representations for events and processes that can be used by everyone, improving efficiency and facilitating greater automation. We’re pleased to work with Digital Asset to help implementation of this important standard,” said Ian Sloyan, Director, Market Infrastructure and Technology, at ISDA.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,243.85 (+0.58%)
  • Ethereum (ETH) $145.62 (+1.79%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $207.82 (+0.39%)
  • Litecoin (LTC) $44.09 (+0.44%)
  • Bitcoin (BTC) $7,243.85 (+0.58%)
Dec 12, 2019 (Thursday)
15:04
Binance launches Latin American fiat gateway; adds new fiat payment options
14:12
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
14:12
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:48
Crypto Technicals: Tezos (XTZ) bucks bearish crypto market trend, grinds higher with strong bullish momentum
11:48
Blockchain startup Digital Asset secures $35M in Series C round
10:53
Crypto Technicals: DASH/USD finds no respite from bears, set to hit fresh record lows
10:19
New York regulator publishes proposed guidance to modify BitLicense
08:40
Consensys shuts down India, Philippine offices; 11 people axed by the closure
07:43
SEC chairman says DLT can foster capital growth; Revealed that agency has been studying digital assets
06:47
Crypto Technicals: XRP/USD capped at 20-DMA, on track to test trendline support at 0.1975
06:47
Napoleon Bitcoin Fund launches in France to cater institutional investors
06:39
Digital assets are here to stay; State Street survey reveals continued institutional interest
06:03
Crypto Technicals: ETH/USD dips below 140 mark, eyes trendline support at 132
05:37
Enterprise Ethereum Alliance, Chamber of Digital Commerce partner on tokenization efforts
04:42
Square Crypto awards grant to pseudonymous Lightning contributor ‘ZmnSCPxj’
04:42
Crypto Technicals: Bitcoin hits 2-week lows below $7100, bearish bias with rising volatility to see more weakness
03:35
Russian power grid company to use blockchain technology to solve massive energy debt issue
03:14
Elliptic launches a risk-assessment tool for banks to identify trustworthy crypto exchanges
Dec 11, 2019 (Wednesday)
12:54
Wu Jihan once again takes over the helm at Bitmain as CEO
12:36
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft