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First Trade with Tokenized S&P Index

First Trade with Tokenized S&P Index

Trading firms DRW and Marex have executed a trade linked to the S&P Global corporate bond index. Prior to this, Kaiko tokenized the index, and the trade terms were structured as a smart contract.

A historic event for the derivatives market

This is the first known instance of using a fully tokenized index in such an operation. Participants plan to conduct cash settlements and manage collateral directly through Canton Network in the future.

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