DTCC Unveils Digital Asset Workflow Solution

The Depository Trust and Clearing Corporation (DTCC) has unveiled ComposerX, a suite of platforms designed to streamline token creation and settlement with the objective of accelerating digital asset adoption throughout the financial ecosystem.

The firm says the new offering is a complete end-to-end suite for managing digital assets through their full lifecycle – including issuance, distribution, servicing, and reporting. It provides transaction, account and inventory management capabilities, data management tools, and an open smart contract framework for tokenisation that’s designed to automate complex financial processes and enable asset discoverability with reconcilable, self-describing data.

DTCC argues that “meaningful” adoption of digital assets goes beyond asset creation on a blockchain. Firms also require an on-chain framework for data management that powers business decisions, risk management, and reporting. “ComposerX has been designed to address this challenge,” it states.

The new offering is comprised of three core platforms; the existing Capital Markets Platform (CMP), which supports the entire token lifecycle management process, from investor onboarding, trading and transaction processing, corporate actions, and transfer agency activities. It is DLT-agnostic and available with a range of tokenisation protocols. CMP enables flexibility and transparency by allowing integration with ComposerX’s other platforms, as well as with legacy systems.

Two new platforms have been released to support various stages of the investment process, ComposerX Factory – a tokenisation engine with data management capabilities that automates the full data management process with a flexibility that DTCC says “was not previously possible”, enhancing tokenisation protocols like ERC-20, ERC-3643, and others with data schema management. Factory allows firms to create “self-describing” smart tokens — that include verifiably accurate data schema that can be relied upon for discoverability and that unlock the reliable automation of business processes.

The third platform is LedgerScan, which is designed to monitor, report and consolidate token activity across the ecosystem. Firms can track and manage tokens representing any asset from any source spanning any network, reconciling all activity across systems and integrating with legacy accounting and custodial models.

“ComposerX provides firms with the tools they need to usher in a new era of institutional DeFi,” says Nadine Chakar, global head of DTCC Digital Assets. “This is a milestone in DTCC’s journey to lead the industry toward the development of a digital financial markets ecosystem, where digital assets are treated with the same care afforded to traditional securities.

“We look forward to continuing our work with the industry to build an open, secure and scalable financial markets infrastructure for the digital economy,” she adds.