Derivnex Launches Industry-First OTC Swap on Canton with DRW and Marex

George Harrington, CEO of Derivnex

“OTC derivatives are one of the largest markets in institutional finance, but much of the infrastructure supporting them remains fragmented”

George Harrington, CEO of Derivnex

“Derivnex gives counterparties a common digital representation of a trade from affirmation through its full lifecycle. Completing the first OTC swap on Canton shows how that model can work in a live institutional market.”

Don Wilson, Founder and CEO of DRW

“Uncleared OTC derivatives are a large and growing market with cumbersome back office workflows. With Derivnex on Canton, Marex and DRW are able to work from the same record, thereby streamlining processes. I’m excited by the efficiency this could bring across more trades and counterparties, particularly when cash and collateral movement become integrated.”

Nilesh Jethwa, CEO, Marex Solutions

“In line with Marex' focus on bridging the traditional finance and digital asset worlds, this transaction provides a practical example of how OTC derivatives can be represented and managed on-chain while maintaining the controls required by institutional market participants.”

Cameron Drinkwater, CPOO at S&P DJI

“This transaction shows how established benchmark infrastructure can support new institutional market structures. Pairing a flagship index with controlled digital distribution extends our credit franchise into on-chain finance, building on more than two decades of liquidity, transparency and tradability on iBoxx benchmarks while preserving trusted rigor and governance.”

Yuval Rooz, CEO and Co-Founder of Digital Asset

“Derivatives are a natural fit for programmable financial infrastructure because the transaction continues to evolve long after the initial trade. Derivnex is demonstrating how counterparties can manage that full lifecycle on shared infrastructure while preserving the controls institutional markets require.”

Ambre Soubiran, CEO of Kaiko

“Reliable benchmark and pricing data are essential to managing derivatives positions. This transaction demonstrates how tokenized benchmark infrastructure and trusted pricing data can work together to support new institutional markets and products, while preserving the licensing, governance and operational standards required by financial institutions.”

Scott O'Malia, CEO of ISDA

“The Common Domain Model provides a consistent digital representation of financial transactions and lifecycle events. Its use in platforms such as Derivnex demonstrates how industry standards can support greater automation and interoperability in derivatives markets at scale.”