Application of Blockchain to Trade Clearing

Abstract

This paper presents a new trade-clearing framework with a Super-Large Ledger (SLL) that can be shared with exchanges, banks, and regulators. Furthermore, this SLL runs on top of a permissioned BC with significant redundancy, and can be efficiently processed at high speed with scalability. In other words, when the workload increases, the SLL will be split and allocated to different processors to speed up the operation. The framework has been implemented and evaluated at a clearinghouse and processed 3.3B historical and real-time transactions.