Interoperability and liquidity optimisation within custody and collateral operations

英国是全球领先的批发金融服务中心。这一地位是通过在技术、交易、交易后处理和金融创新方面的深厚专业知识来维持的。SETL提议开发一个互操作性平台，以促进托管银行的运营，特别是抵押品管理。金融机构正在更多地使用区块链和分布式账本技术，通过一个称为令牌化的过程来管理证券交易。代币化是将真实的世界资产转移到区块链上的过程。一旦代币化，证券可以立即转移，没有交易成本，管理流程最少。然而，有许多不同的区块链基础设施创建独立的证券池。目前，证券不能在这些池之间无缝转移。不同区块链基础设施的示例包括Corda，Hyperledger Besu，HyperLedger Fabric，HyperLedger Sawtooth，JPM Coin和SETL。在具有相同基础区块链的银行之间转移证券也需要一个互操作性平台。抵押品管理是将证券从一个市场参与者临时转移到另一个市场参与者以降低风险的过程，是金融市场流动性和有效运作的关键。这是一项全球性业务，通常由托管银行进行，估计有15万亿英镑的资产随时受到抵押品安排的影响。只有当这些池可以连接时，抵押品管理才能实现效率，允许证券在交易对手之间进行24/7转移。该项目旨在建立一个平台，通过提供24/7的抵押品移动，自动化处理和跨抵押品池的即时结算来改变抵押品管理流程，从而提高流动性。SETL的方法是创建一个平台，解决互操作性的4个关键要素，即许可，交易，事件和同步。该解决方案将提供一个通用接口层，其中包括一个SDK（软件开发工具包）和一组开放式API。如果没有互操作性平台，跨区块链令牌化和高效抵押品市场的好处将永远不会实现。因此，SETL建议为托管银行创建第一个互操作性平台。

The UK is the leading centre for wholesale international financial services. This position is maintained through a deep pool of expertise in technology, trading, post trade processing and financial innovation.SETL propose the development of an interoperability platform that will facilitate the operations of custodian banks, in particular collateral management.Financial institutions are making greater use of blockchain and distributed ledger technology to manage securities transactions through a process known as tokenisation. Tokenisation is the process of moving real world assets onto a blockchain. Once tokenised, securities can be transferred instantly with no transactions costs and minimal administration processes.However, there are many different blockchain infrastructures which create stand alone pools of securities. Currently securities cannot be seamlessly transferred between these pools. Examples of different blockchain infrastructures include Corda, Hyperledger Besu, HyperLedger Fabric, HyperLedger Sawtooth, JPM Coin and SETL. Transferring securities between banks with the same underlying blockchain will also require an interoperability platform.Collateral management is the process of temporarily transferring securities from one market participant to another in order to mitigate risk and is key to both liquidity and the efficient operations of financial markets. It is a global business, typically conducted by custodian banks, with an estimated £15 trillion of assets subject to collateral arrangements at any time.Collateral management can only achieve efficiencies when these pools can be connected, allowing securities to be transferred 24/7 between counterparties. This project aims to build a platform to transform collateral management processes by offering 24/7 collateral movement, automated processing and instant settlement across collateral pools and thereby increasing liquidity.SETL's approach is to create a platform that addresses the 4 key elements of interoperability, namely permissions, transactions, events and synchronisations. The solution will provide a common interfacing layer that will include an SDK (Software Development Kit) and a set of Open API's.Without an interoperability platform the benefits of cross blockchain tokenisation and efficient collateral markets will never materialise.SETL therefore proposes to create the first interoperability platform for Custodian Banks.