S&P Dow Jones Indices and Kaiko Enable First On-chain OTC Swap Referencing a Tokenized Benchmark, Executed by DRW and Marex on Derivnex

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.”

George Harrington, CEO of Derivnex

“Completing the first OTC swap on Canton shows how that model can work in a live institutional market.”

Cameron Drinkwater, Chief Product Operating Officer at S&P DJI

“This transaction shows how established benchmark infrastructure can support new institutional market structures.”

Cameron Drinkwater, Chief Product Operating Officer at S&P DJI

“Pairing a flagship index with controlled digital distribution through Kaiko 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.”

Ambre Soubiran, CEO of Kaiko

“This transaction demonstrates how tokenized benchmark infrastructure can support new institutional markets and products, while preserving the licensing, governance and operational standards required by financial institutions.”

Nilesh Jethwa, CEO of Marex Solutions

“In line with Marex's focus on bridging traditional finance and digital assets, this transaction provides a practical example of how OTC derivatives can be represented and managed on distributed ledger infrastructure.”

Nilesh Jethwa, CEO of Marex Solutions

“It shows how new technology can support more coordinated and transparent workflows while preserving the controls required by institutional market participants.”