Clearing & Settlement
The SGC block releases at confirmed settlement, not at the match — the window between the two is a state of its own
What the exchange may write
Token holdings are the custodian's record of a claim on a real bond. If the exchange could write them the two records could diverge — and the exchange's copy would be the wrong one.
- SGC available
- EXCHANGE MAY AMENDunder dual review
- SGC committed to resting buys
- EXCHANGE MAY AMENDunder dual review
- Token holdings — available
- READ ONLYcustodian-owned
- Token holdings — reserved for sale
- READ ONLYset by the matching engine
- Token holdings — current value
- READ ONLYquantity × fair price
- Profit and loss
- NOT HELDthe exchange has no cost basis
Phase 1 scope
- Funding model
- A spot buy blocks 100% of order value at placement
- Margin
- None — no initial, maintenance, ratio or liquidation waterfall
- Collateral
- None — there is no pledged state in Phase 1
- Derivatives
- None — spot only
- Utilisation thresholds
- Warn 80%, no headroom 92% (PLACEHOLDER)
- Retention
- 20 years
- RTO / RPO
- 30 min / 0 min
- Settlement comms
- Automatic investor communication at 15 minutes
Deepak Sundaram
ARC0000117 · TM-1002
SGC — amendable under dual review
- SGC available
- 9,20,000
- SGC committed to resting buys
- 1,80,000
- Utilisation
- 16.4%
Token holdings — read-only
- Units available
- 55,800
- Units reserved for sale
- 5,000
- Current value
- 60,14,046
- Profit and loss
- Not held — the exchange has no cost basis