Capital that isn't stuck in settlement.
When a trade settles in seconds instead of a day, the buffers held against unsettled trades can go back to work.
The whole book, on one ledger.
Cash-settled index options, futures and ETFs at institutional size, bespoke derivatives built around your risk, and collateral and settlement that run from the record. One account, one cash balance, nothing borrowed. The platform is in development.
Built for how a desk actually works.
Faster settlement is only the start. What changes for an institution is how much capital sits idle, how many systems need reconciling, and when you are able to act.
One account across the whole book.
Index options, futures, ETFs and bespoke contracts sit in one account against one cash balance, not one account per venue.
Open when your risk is.
Built to run around the clock, so you are not waiting for an opening bell to act on a move.
Nothing to reconcile.
Both sides hold the same record of every trade, so confirmations match by construction.
Fully collateralized, by design.
Every position is fully paid for or fully collateralized. No leverage, no margin calls, no surprises.
What you can trade.
Cash-settled options on our own indices are the flagship. Around them sit the instruments a desk uses every day, all on the same ledger.
- Cash-settled index optionsPriced continuously from the index level, in standard and small sizes.
- Index futures and ETFs at sizeBlocks by quote, settled in seconds, held fully paid.
- Portfolio productsBuffered and income strategies built from our options.
- Specialized and bespoke derivativesStandardized contracts for risks the market leaves uncovered, and contracts negotiated term by term.
How we will work together.
From the first conversation to your first settled trade, in four steps.
- Step oneOnboardWe verify your firm and the people who will trade. Only verified participants trade here.
- Step twoConnectTrades, marks and settlements flow to the risk, ledger and custody systems you already run.
- Step threeFundBy bank transfer or with approved stablecoins, currently USDC and QCAD, held in segregated client trust accounts.
- Step fourTrade and settleOn the book or by quote for size. Cash and assets change hands at the same moment.
Plugs into what you already run.
Every event in an instrument's life, trades, marks, collateral checks and settlements, is written to its record and delivered to the systems you choose.
- Structured from the startTerms, rules and obligations as data, not a document to parse.
- Delivered where you need itThe same event to each system, at the same moment.
- Verifiable independentlyEither party can check the record without asking the other.
Built to be trusted.
The rules we are building to, and will not bend.
- Verified participants onlyEvery firm and trader is identified before they trade.
- Designed for securities regulationBuilt to operate within the rules that govern the products we list.
- Client money kept apartDeposits sit in segregated client trust accounts, never mixed with ours.
- Records anyone can verifyEvery settlement is written to a record both sides can check.
- No leverage on any productPositions are fully paid for or fully collateralized.
- No token, everBlockchain is the infrastructure, not the product. We will not issue a coin.
Ways to work with us.
Not every institution comes to trade. Some bring liquidity, some hold the assets, some build on our indices.
Trade on it
Hedge funds, proprietary trading firms, asset managers and family offices, with one account across every product.
Make markets on it
Market makers quoting our options, futures and ETFs, around the clock, against one cash balance.
Hold assets for it
Banks and custodians as partners, for client money, collateral and the assets behind our products.
Benchmark to it
Our indices are built under published rules, so a fund can track them or build on them without an index licence.
Where we are, and where we are going.
- NowIn developmentBuilding the marketplace in Toronto and speaking with early partners.
- FirstOur core productsCash-settled index options, index futures and ETFs, settled on one ledger.
- LaterMore asset classesMajor crypto assets such as bitcoin and ether, without leverage, and tokenized securities from regulated issuers.
Talk to us.
Whether you run a desk, a fund, a market-making book or a custody business, we would like to hear from you.