Share these talks and lectures with your colleagues
Invite colleaguesPractice paper
Design discussion on the ISDA Common Domain Model
Journal of Digital Banking,
3
(2),
165-187
(2018)
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.
Keywords: ISDA; Common Domain Model; smart contracts; distributed ledger technology
The full article is available to subscribers to the journal.
Author's Biography
Christopher D. Clack is a senior lecturer in the Department of Computer Science at University College London (UCL), one of the world’s leading research universities, and is joint field chief editor of the research journal Frontiers in Blockchain. He has over 30 years’ research experience at UCL in modelling and simulation, programming languages, system architectures, genetic computation and financial computing. He has secured funds exceeding £4m for research, knowledge transfer and teaching, and has founded and led a series of highly successful initiatives at UCL and elsewhere, including the Thomson-Reuters Laboratory at UCL and the UK Financial Services Knowledge Transfer Network. He holds degrees in Natural Sciences from Cambridge and Computer Science from UCL. In 2009, he was awarded the higher doctorate Doctor of Science (ScD) by the University of Cambridge.
