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User Guide

Initial party & relationship setup

  1. Deploy DIT to a new ledger on Daml Hub
  2. Create the following parties:
    • UserAdmin
    • Bank
    • Ccp
    • Issuer
    • Exchange
    • Alice
    • Bob
  3. Download parties.json
  4. Open deployed UI → Quick Setup
  5. Upload parties.json and click Next
  6. Wait for all auto-approve triggers for all parties to deploy...
  7. Assign roles to specific parties:
    • Exchange: Pick party Exchange
      • Market Clearing Service Contract (optional): CCp as provider, Bank as custodian
    • Bank: Pick party Bank
    • Clearing House: Pick party Ccp
      • Clearing House Role Contract: Bank as the custodian and Clearing-Bank for the clearing account
    • Investor: Pick parties Alice and Bob
      • Custody Service Contract: Bank as provider
      • Trading Service Contract: Exchange as provider, Bank as custodian and enter Exchange-TradingAccount for the trading account
      • Bidding Service Contract: Bank as provider and custodian, and enter Bidding-TradingAccount for the trading account
      • Clearing Service Contract (optional): Ccp as provider, Bank as custodian and enter Clearing-ClearingAccount for clearing account
    • Issuer: Pick party Issuer
      • Custody Service Contract: Bank as provider
      • Issuance Service Contract: Bank as provider and custodian, and enter Issuance-optSafekeepingAccount for the safekeeping account
      • Auction Service Contract: Bank as provider and custodian, enter Auction-TradingAccount for the trading account and enter Auction-ReceivableAccount for the receivable account

Issuing new assets

  1. Login as Issuer
  2. Issuer: go to Setup and create a base instrument for USD
    • Account : Issuer-Bank-MainAuctionAccount
  3. Issuer: go to Setup and create a base instrument for BTC
    • Account : Issuer-Bank-MainAuctionAccount
  4. Issuer: go to Setup and create an issuance of USD
    • Issuance ID: iss1
    • Account : Issuer-Bank-MainAuctionAccount
    • Quantity: 1000
  5. Issuer: go to Setup and create an issuance of BTC
    • Issuance ID: iss2
    • Account : Issuer-Bank-MainAuctionAccount
    • Quantity: 1000

Primary distribution

Auctioning off assets

  1. Issuer: go to Setup and create a new auction
    • Auctioned Asset : BTC
    • Quoted Asset : USD
    • Quantity : 500
    • Floor Price : 300
    • Auction ID : auc1
  2. Login as Alice
  3. Go to "Wallet" and click on Alice-Bank-BiddingAccount
  4. Alice: Deposit 5000 US Dollars to account
  5. Login as Bank
  6. Bank: Go to Auctions, click on the auction opened by the Issuer, and Request Bid from Alice
  7. Login as Alice
  8. Alice: Go to Bidding Auctions, click on the auction, and submit a Bid
    • Quantity: 2
    • Price: 500
    • Publish Bid: ✅
  9. Login as Bank
  10. Go to auction, click Close Auction

Secondary distribution

Setting up tradeable, collateralized markets

  1. Login as Exchange
  2. On "Setup" page, click "Setup Automations"
    • If you are planning to use Exberry, deploy the Exberry Adapter and set up the integration in the console.
    • If you are not planning to use Exberry, deploy the Matching Engine trigger
  3. Exchange: Go to Setup, Create New Listing
    • Traded Asset : BTC
    • Traded Asset Precision: 6
    • Quoted Asset : USD
    • Quoted Asset Precision: 2
    • Minimum Tradable Quantity: 1
    • Maximum Tradable Quantity: 10000
    • Symbol: BTCUSD
    • Description: Bitcoin vs USD
    • Cleared by: -- Collateralized Market --
  4. Login as Alice
  5. Alice: Go to Wallet, click on row for Alice-Exchange-ExchangeTradingAccount
  6. Alice: Deposit 1000 USD
  7. Alice: Go to BTCUSD Market, place an order
    • Buy
    • Limit
    • Time in Force : Good Till Cancelled
    • Price : 500
    • Quantity : 2
  8. Login as Bob
  9. Bob: Go to Wallet, click on row for Bob-Exchange-ExchangeTradingAccount, Deposit 500 BTC
  10. Bob: Go to BTCUSD Market, place an order (to partially match Alice's Buy)
    • Sell
    • Limit
    • Time in Force : Good Till Cancelled
    • Price : 500
    • Quantity : 1.0

Setup Clearinghouse

  1. Login as Ccp
  2. Ccp: Go to Manage/Clearing and "Accept" Clearing Role
    • Clearing Account: Clearing-Bank
  3. Login as Alice
  4. Alice: Go to Wallet, click on row for Alice-Ccp-ClearingAccount, Deposit 10,000 USD
  5. Login as Bob
  6. Bob: Go to Wallet, click on row for Bob-Ccp-ClearingAccount, Deposit 10,000 USD

Test Margin Calls

Perform successful margin call for Alice

  1. Login as Ccp
  2. Ccp: on Members page, click "Perform Margin Call":
    • Customer: Alice
    • Amount: 5000

Fail and retry a margin calculation for Bob

  1. Ccp: on Members page, click "Perform Margin Call":
    • Customer : Bob
    • Amount : 12000
  2. Login as Bob
  3. Bob: Go to Wallet, click on row for ClearingBob-Bank, Deposit 5000 USD
  4. Bob: Go to Clearing page, click "Retry" on failed Margin Call

Test Mark to Market

Transfer funds from Alice to Bob via central countrerparty.

  1. Ccp: on Members page, click "Perform Mark to Market":
    • Customer: Alice
    • Amount: 5000
  2. Ccp: on Members page, click "Perform Mark to Market":
    • Customer : Bob
    • Amount : -5000

Cleared Secondary Market

Setting up tradeable, cleared markets

  1. Login as Exchange
  2. Exchange: Go to Setup, Create New Listing
    • Traded Asset : BTC
    • Traded Asset Precision: 6
    • Quoted Asset : USD
    • Quoted Asset Precision: 2
    • Minimum Tradable Quantity: 1
    • Maximum Tradable Quantity: 10000
    • Symbol: BTCUSD-CLR
    • Description: Cleared Bitcoin vs USD
    • Cleared by: CCP
  3. Login as Alice
  4. Alice: Go to BTCUSD-CLR Market, place an order
    • Buy
    • Limit
    • Time in Force : Good Till Cancelled
    • Price : 500
    • Quantity : 2
  5. Login as Bob
  6. Bob: Go to BTCUSD-CLR Market, place an order (to partially match Alice's Buy)
    • Sell
    • Market
    • Time in Force : Good Till Cancelled
    • Quantity : 1.0
  7. Login as Ccp
  8. On Manage/Clearing, click "Request FV" next to Exchange's Market.Clearing role
    • Currency : USD

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