Gateway capabilities
- Atomic DvP boundary
- Venue policy
- Trade evidence
Trading · Design record
Private DvP and secondary markets
Coordinate asset transfer and cash settlement while limiting exposure of intent, price, position, and counterparty data.
01Seller→
02Buyer→
03Venue or coordinator→
04Asset registry
Target business outcome
A governed transaction lifecycle from eligibility and order through atomic or coordinated settlement and servicing.
Gateway implementation layer
Translate the workflow into a deployable operating boundary.
The record defines the financial problem. Gateway then maps the relevant Platform capabilities, privacy fit, deployment, specialist dependencies, and validation path.
Open Privacy Suite applicability
Hides orders and positions from non-counterparties; venue and oversight keep their views.
Deployment
Aligned to venue, settlement, and participant control boundaries.
Partner dependencies
- Custody
- Liquidity
- Market operator
Implementation path01 · Map the flow02 · Validate the hardest assumption03 · Define the production boundary
Actors
- Seller
- Buyer
- Venue or coordinator
- Asset registry
- Cash provider
- Custodian
- Supervisor
Confidential data
- Order intent and size
- Negotiated price
- Positions
- Counterparty identity
- Settlement instructions
Public or shared evidence
- Eligibility proof
- Matched-trade commitment
- Asset and cash finality receipts
- Exception or abort state
Regulator and auditor access
Market operators and supervisors receive a replayable transaction record under defined authority; participants see only their trade and shared outcome.
Institutional constraints
- Atomicity across domains may require a coordinator
- Legal finality can differ from technical finality
- Pre-trade and post-trade privacy are separate problems
- Exception handling must fail safely
Viable approaches
Single-domain atomic DvP
Keep cash and asset legs in one governed execution domain.
Prepare/commit coordination
Coordinate verified outcomes across independent domains with replay protection and abort rules.
Privacy-enhanced settlement
Use shielded state, confidential execution, or selective disclosure based on the operator threat model.
Questions to resolve during discovery
- Which party coordinates settlement?
- What is the recovery path after one leg prepares?
- Who may see price and position data?
- How are servicing and later transfers recorded?
Relevant standards and frameworks
- DvP principles
- CPMI-IOSCO PFMI where applicable
- Securities-market rules
- ISO 20022 settlement messaging
Related cases
Continue through the adjacent operating questions.
Financial workflows rarely stand alone. These records cover the closest dependencies and alternatives.
Funds & AssetsDesign record
Tokenized funds and private credit
Represent regulated fund or credit interests with controlled eligibility, transfer, pricing, servicing, and cash settlement.
Open use-case record →TradingDesign record
Private FX and PvP settlement
Coordinate two currency legs without exposing trading intent, balances, quotes, or counterparty limits to unrelated parties.
Open use-case record →Data & OraclesDesign record
Evidence and audit rails
Produce a durable chain of identity, policy, transaction, deployment, and operational evidence for assurance and supervision.
Open use-case record →Start with the architecture
Turn private dvp and secondary markets into an institution-specific architecture.
A workshop maps the actors, authoritative records, disclosure requirements, operating boundary, and highest-risk assumptions into a proposed architecture.