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
Settlement obligation
trd_3J0J8qkDnzHmfI7S9iQdopvyoWn · trd_3J0J8qkDnzHmfI7S9iQdopvyoWn
Obligation
- Obligation
- trd_3J0J8qkDnzHmfI7S9iQdopvyoWn
- Trade
- trd_3J0J8qkDnzHmfI7S9iQdopvyoWn
- Instrument
- RELI28 — INE002A08627
- Buyer UCC
- MER0000902
- Seller UCC
- MER0000418
- Units
- 1
- Price
- 1000.90
- Consideration
- 1,001
- State
- MATCHED PENDING SETTLEMENT
- Readiness check
- PENDING
Timeline
- Matched
- 2026-09-07 14:38:15 IST