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Unified Trade Record

Single Source of Truth

Serving as the authoritative source of transaction data

The Unified Trade Record (UTR) is a standardised, on-chain representation of trade data that acts as the single source of truth for financial transactions. By translating any trade message format into the industry-standard Common Domain Model, the UTR ensures data consistency, reduces errors, and enhances interoperability. This effectively addresses the issue of fragmented trade data, which is both costly to maintain and error-prone

A Golden Record

In traditional derivatives markets, lifecycle management typically relies on manual processes and paper documentation, leading to inefficiencies and inaccuracies. Tokenovate’s platform solves these issues by providing a CDM-based framework that precisely defines the key data elements and how they relate to each other. The result is a blockchain-based trade record — uniform, accurate, and unchangeable — serving as the authoritative source of transaction data.

Key benefits of
the UTR

Single Source Of Truth

Maintains consistent and accurate transaction data throughout its entire lifecycle.

Standardisation

Uses industry standards like the CDM to represent financial products and lifecycle events in a common language.

Immutability

Utilises blockchain technology to ensure the UTR cannot be altered once recorded, preserving data integrity.

Automation

Automatically updates in real-time with every lifecycle event, ensuring the most accurate information is always available.

Tokenisation

Provides a solid foundation for tokenising real-world assets, making it seamless to link digital tokens with their underlying assets.

Reaping
the Benefits

Manual reconciliation of trade data is expensive and error-prone. By using a blockchain-based UTR, firms can replace multiple labour-intensive processes with a single immutable record. Reconciliation traditionally accounts for 30–40% of back-office labour expenses. Improving these processes could cut those costs by up to 50%, translating into savings of £750,000–£2 million annually for institutions spending £5–£10 million on their back office.

Fragmented data and manual entry often lead to trade breaks, increasing financial and regulatory risks. As the industry transitions to T+1 settlement, these risks escalate further. The UTR’s single, tamper-proof record can reduce trade breaks by 90%, saving medium-sized financial institutions millions of pounds per year.

Regulatory requirements mandate timely and accurate reporting. The UTR’s transparency and alignment with Digital Regulatory Reporting (DRR) initiatives help firms avoid costly errors. With fines for non-compliance ranging from tens of thousands to tens of millions of pounds, enhanced accuracy and traceability can significantly lower both the financial and reputational risks of regulatory infractions.

Trade Lifecycle Management

Facilitating Smart Collateral Mobility

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