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Design discussion on the ISDA Common Domain Model

Author

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  • Clack, Christopher D.

    (University College London, UK)

Abstract

A new initiative from the International Swaps and Derivatives Association (ISDA) aims to establish a Common Domain Model (ISDA CDM): a new standard for data and process representation across the full range of derivatives instruments. The resulting standardisation of workflow will not only reduce the cost of traditional processing but will also facilitate new platforms using distributed ledger technology and enable processing via smart contracts. The design of the ISDA CDM is at an early stage and the draft definition contains considerable complexity and ambiguity. This paper contributes by offering insight, critical analysis and discussion relating to important topics in the design space such as data lineage, timestamps, consistency, operations, events, state and state transitions.

Suggested Citation

  • Clack, Christopher D., 2018. "Design discussion on the ISDA Common Domain Model," Journal of Digital Banking, Henry Stewart Publications, vol. 3(2), pages 165-187, November.
    • Handle: RePEc:aza:jdb000:y:2018:v:3:i:2:p:165-187
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    More about this item

    Keywords

    ISDA; Common Domain Model; smart contracts; distributed ledger technology;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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