Product

Traded tokenised assets

Private Market products are traded against XBT.

Pricing

Pricing represents the exchange rate between the tokenised asset and XBT.

Price Discovery

Request for Quote (RFQ)

Negotiation Process

The negotiation process is initiated by the entry of a non-binding RFQ from a requester.

In response to an RFQ, any participant of the platform may submit, modify or cancel responsive quotes during a 30 second response period.

At the conclusion of the response period, both the requester and the responder each have a 30 second time-period, running concurrently, during which they may sign their respective on-chain settlement transactions.

Once the transactions are signed, they are sent to BlockSettle where we combine the two halves and push them to the network.

Order Validation

Delivery obligations are validated by examining the UTXOs and ensuring that they originate from the specific Genesis Address relating to the Tokenised Asset in question.

Payment obligations are validated by examining the XBT UTXOs offered as payment.

Settlement

Atomic Delivery-versus-Payment.

Dealing Eligibility

Open to all participant types.

End of Day Pricing

00:00 UTC

Quote Schedule

RFQ Submission00:00.00
Responsive Quote Period00:00.01 – 00:30.00
Payment Settlement00:30.01 – 01:00.00
Delivery Settlement00:30.01 – 01:00.00
Network Broadcast01:00:01
SettlementSix (6) blockchain confirmations

Specifications

Products tradedTokenised Assets, XBT
Matching ModelRequest-for-Quote
Base CurrencyTokenised Asset
Quote CurrencyXBT
Base Product Lot Size1
Minimum Lot size0.00000100 XBT
Order PriorityPrice - Time
Collateral RequirementsShare Registry Chain-of-custody
Trading Schedule24 / 7 / 365
SettlementAtomic Delivery-versus-Payment (Coin-Join)
Settlement FinalitySix (6) blockchain confirmations

Quote Schedule

RFQ Submission00:00.00
Responsive Quote Period00:00.01 – 00:30.00
Payment Settlement00:30.01 – 01:00.00
Delivery Settlement00:30.01 – 01:00.00
Network Broadcast01:00:01
SettlementSix (6) blockchain confirmations
Spot XBT