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 Submission | 00:00.00 |
Responsive Quote Period | 00:00.01 – 00:30.00 |
Payment Settlement | 00:30.01 – 01:00.00 |
Delivery Settlement | 00:30.01 – 01:00.00 |
Network Broadcast | 01:00:01 |
Settlement | Six (6) blockchain confirmations |
Specifications
Products traded | Tokenised Assets, XBT |
Matching Model | Request-for-Quote |
Base Currency | Tokenised Asset |
Quote Currency | XBT |
Base Product Lot Size | 1 |
Minimum Lot size | 0.00000100 XBT |
Order Priority | Price - Time |
Collateral Requirements | Share Registry Chain-of-custody |
Trading Schedule | 24 / 7 / 365 |
Settlement | Atomic Delivery-versus-Payment (Coin-Join) |
Settlement Finality | Six (6) blockchain confirmations |
Quote Schedule
RFQ Submission | 00:00.00 |
Responsive Quote Period | 00:00.01 – 00:30.00 |
Payment Settlement | 00:30.01 – 01:00.00 |
Delivery Settlement | 00:30.01 – 01:00.00 |
Network Broadcast | 01:00:01 |
Settlement | Six (6) blockchain confirmations |