The startup develops a decentralized platform that enhances post-trade processes in capital markets by automating reconciliation and trade confirmation for over-the-counter derivatives. This technology reduces operational costs and minimizes losses for investors and traders by increasing the efficiency and security of post-trade management.
Funding
$3.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
The post-trade processing of over-the-counter (OTC) derivatives in capital markets is plagued by manual processes, leading to high operational costs, increased risks, and synchronization errors between counterparties. Existing infrastructure often fails to deliver efficiency, resulting in reconciliation breaks, settlement delays, and increased capital charges for financial institutions.
Solution
Fragmos Chain offers a decentralized platform that automates and streamlines post-trade processes for OTC derivatives using blockchain technology. The platform creates golden trade records and reference data, enabling self-executing transactions and eliminating the need for manual reconciliation and trade confirmation. By leveraging smart contracts and distributed ledger technology (DLT), Fragmos Chain ensures secure and real-time data exchange between counterparties, reducing operational incidents, minimizing risks, and facilitating regulatory compliance. The platform is built upon APIs developed as Smart Contracts on Corda and is natively aligned with the ISDA Common Domain Model (CDM), ensuring interoperability and standardization across the industry.
Target Audience
The primary target audience includes financial institutions, investment banks, and large corporations involved in trading OTC derivatives who seek to reduce operational costs, minimize risks, and improve regulatory compliance.
Features
- Blockchain-based platform for secure and transparent post-trade processing of OTC derivatives
- Automation of trade matching, event processing, and cash flow reconciliation
- API-first architecture with smart contracts on Corda for seamless integration with existing systems
- Native alignment with ISDA Common Domain Model (CDM) for standardized data representation
- Real-time data exchange and synchronization between counterparties
- Automated generation of legally binding confirmations
- Integration with Symphony chat rooms for enhanced discrepancy detection and resolution
- Support for a wide range of OTC derivative products, including swaps, risk-free rates, and structured products