Gateway capabilities
- Cross-domain PvP coordination
- Settlement windows
- Leg evidence
Trading · Design record
Private FX and PvP settlement
Coordinate two currency legs without exposing trading intent, balances, quotes, or counterparty limits to unrelated parties.
01Trading institutions→
02Liquidity provider→
03Venue or coordinator→
04Cash issuers
Target business outcome
A policy-controlled FX workflow with signed pricing, synchronized finality, and inspectable exception handling.
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
Each party proves its leg without exposing positions to the other side.
Deployment
Two coordinated domains with prepare/commit across the currency legs.
Partner dependencies
- FX counterparties
- Custody
- Liquidity
Implementation path01 · Map the flow02 · Validate the hardest assumption03 · Define the production boundary
Actors
- Trading institutions
- Liquidity provider
- Venue or coordinator
- Cash issuers
- Custodians
- Supervisor
Confidential data
- RFQ and order intent
- Price and spread
- Positions and limits
- Settlement accounts
- Counterparty risk decision
Public or shared evidence
- Signed quote commitment
- Matched terms
- Both-leg finality receipts
- Abort or timeout evidence
Regulator and auditor access
Authorised market and supervisory roles can inspect matched terms and settlement evidence without exposing the order book or all positions.
Institutional constraints
- PvP must address temporal and legal finality
- Liquidity and credit limits are sensitive
- Cross-network atomicity has operational trade-offs
- Clock, timeout, and dispute policy matter
Viable approaches
Single-domain PvP
Settle both currency representations inside one governed domain.
Cross-domain coordinated PvP
Exchange proofs and use prepare/commit/abort across independently governed rails.
Questions to resolve during discovery
- What assets settle each leg?
- Which finality signal is authoritative?
- Who provides liquidity and bears failed-settlement risk?
- What information must a supervisor replay?
Relevant standards and frameworks
- FX Global Code
- PvP risk principles
- ISO 20022
- Local market and payments regulation
Related cases
Continue through the adjacent operating questions.
Financial workflows rarely stand alone. These records cover the closest dependencies and alternatives.
PaymentsDesign record
Cross-border settlement corridors
Connect an originating institution, a governed settlement rail, and beneficiary payout through corridor-specific policy and liquidity.
Open use-case record →TradingDesign record
Private DvP and secondary markets
Coordinate asset transfer and cash settlement while limiting exposure of intent, price, position, and counterparty data.
Open use-case record →Data & OraclesDesign record
Signed data and private oracles
Use external prices, events, and institutional facts while limiting disclosure of query identity and protected source data according to the access model.
Open use-case record →Start with the architecture
Turn private fx and pvp settlement into an institution-specific architecture.
A workshop maps the actors, authoritative records, disclosure requirements, operating boundary, and highest-risk assumptions into a proposed architecture.