Frequently Asked Questions

Tokenovate provides a platform and workflows that automates the post-trade lifecycle, from trade capture through to final settlement. It creates a single, shared view of each trade and uses standardised workflows to process lifecycle events and execute settlement with certainty.

Post-trade processes are fragmented across multiple systems, formats, and teams, leading to reconciliation breaks, delays, and operational risk. Tokenovate removes this fragmentation by creating a single source of truth and automating how trades are processed and settled.

Post-trade processes are fragmented across multiple systems, formats, and teams, leading to reconciliation breaks, delays, and operational risk. Tokenovate removes this fragmentation by creating a single source of truth and automating how trades are processed and settled.

Tokenovate introduces a canonical, event-driven operating model where trade data, lifecycle processing, and settlement are synchronised through a single Unified Trade Record. Each trade exists once, evolves deterministically, and settles based on validated obligations, removing the need for reconciliation across fragmented systems.

The Unified Trade Record (UTR) is a single, authoritative representation of a trade. It brings together trade data, contractual terms, and lifecycle events into one consistent format, ensuring all participants work from the same information and enabling a complete audit trail.

CDM acts as the semantic layer of the platform, providing a standardised representation of products, lifecycle events, and settlement instructions. This ensures consistent interpretation across firms, enables automation, and supports interoperability with existing infrastructure and regulatory reporting systems.

Tokenovate uses a UTXO-inspired state model where each lifecycle event consumes a prior state and creates a new one. This ensures deterministic processing, prevents duplication, and maintains a complete, traceable record of all changes in ownership and obligation.

Workflows automate lifecycle events using CDM-standard logic applied to the Unified Trade Record. This includes trade matching, resets, amendments, novations, corporate actions, and market events. Each step is processed deterministically, ensuring consistency across counterparties and removing manual intervention and reconciliation.

Tokenovate performs semantic matching at the data object level, ensuring economic equivalence between counterparties. This identifies discrepancies early and prevents downstream breaks that are often only detected at settlement.

Lifecycle events such as resets, amendments, and novations are processed automatically using predefined contractual logic. Market events and corporate actions are detected and applied deterministically using CDM-standard definitions, ensuring consistent interpretation and execution across all participants.

Workflows determine and validate obligations before settlement, ensuring that transfer instructions are accurate and complete. This reduces settlement fails and enables faster, more reliable execution.

Novat is the programmable settlement layer that executes validated obligations. It synchronises asset and cash movements atomically and links settlement outcomes directly to lifecycle events, ensuring certainty and auditability.

No. Tokenovate uses transient, single-use digital representations of settlement obligations that exist only for the duration of the settlement process. These do not circulate independently and do not create new forms of property.

Tokenovate integrates with existing systems using APIs and standard messaging formats such as ISO 20022, FpML, and FIX. It enhances coordination across custodians, trading venues, and settlement systems without requiring infrastructure replacement.

The platform supports a wide range of formats, including FpML, FIXML, ISO 20022, JSON, and CSV. These inputs are normalised into the Unified Trade Record.

DRR is generated directly from the Unified Trade Record using CDM-standard data. This ensures reported information matches the authoritative trade state and provides full traceability from report to underlying lifecycle events.

By validating obligations upfront and executing settlement atomically, Tokenovate removes timing mismatches and data discrepancies that are the primary causes of settlement fails.

By standardising data and automating lifecycle processing, Tokenovate enables faster confirmation, real-time visibility, and timely settlement instruction. This supports T+1 and future compressed settlement cycles.

Faster and more certain settlement reduces the need for precautionary buffers and allows assets and collateral to move more efficiently, improving capital utilisation.

Every lifecycle event and state change is recorded in a structured and traceable way, providing a complete audit trail from trade execution through to final settlement.

The platform aligns digital processing with existing legal frameworks by ensuring that lifecycle events and settlement instructions are derived from contractual obligations and executed against authoritative records of title.

Tokenovate is designed for banks, asset managers, custodians, and market infrastructures. It is delivered as a cloud native, API driven service that integrates with existing systems without disruption.

Tokenovate is aligned with standards developed by ISDA, ICMA, ISLA, FINOS, and other industry bodies. By embedding CDM and supporting standard messaging formats, it ensures compatibility with global post-trade infrastructure.

Tokenovate has announced the successful execution and settlement of an intra-day repurchase agreement (repo) on the Canton Network using the FINOS Common Domain Model (CDM), with cash settlement conducted in USDC issued by Circle and expressed as USDCx Reserve on the Canton Network.

Tokenovate implemented the full lifecycle of the repo transaction using CDM-native event and state management, including trade representation, lifecycle processing, collateral movements, and coordinated settlement of both transaction legs.

By combining the CDM with tokenised cash and distributed ledger infrastructure, the transaction highlights how financial institutions can support intraday liquidity management, faster collateral mobility, and operational resilience as markets transition toward T+1 and increasingly automated settlement models.