Barclays DerivHack is back, bigger & more ambitious than ever!
Following last year's success, Barclays is once again working with ISDA to host DerivHack. Join us to take on a bigger challenge, leveraging the power of the ISDA Common Domain Model (ISDA CDM) to innovate on the use of common repositories in post trade processing.
In addition to solving the use cases, participants have an incredible opportunity to enhance their knowledge of ISDA CDM & common utilities, & work alongside peers who have been thought leaders in this space.
The event will feature the best & brightest minds collaboratively working on a shared goal of building upon what was achieved last year to demonstrate progress in standardized data & processes using common repositories. Participants will explore ways to externalize aspects of post-trade processing to unlock material savings & efficiencies in the derivatives & securities industry.
The challenge for 2019
Broadening the London & New York hosting sites, participants will have the opportunity to innovate in Singapore this year!
In line with the developments to ISDA CDM, there is a focused effort to extend the product scope to securities
Use cases will cover the full scope of post-trade processes, from the point of trade execution right through to settlement & collateral.
Participants will be challenged to simulate the interaction model among the common repository, broker-dealers & clients. This business network will demonstrate efficient orchestration of security transactions, post trade processing & the servicing of client portfolios. Related business use cases & workflow have been developed in partnership with DTCC & ICMA. For this year's event, Barclays will be partnering with Digital Asset & R3 where each firm will be providing a ledger-as-a-service to simulate a common repository for CDM-based applications. Additionally, we are partnering with DBS Bank to promote industry awareness on ISDA CDM across APAC. Competing teams in the DerivHack will have the option to leverage these platforms & build atop of them using smart contracts like DAML & Kotlin, with support provided by DA & R3.
You are invited
The event will be held on the 16th & 17th of October, simultaneously at Barclays Rise London, Barclays Rise New York & Barclays Singapore
For participating teams, a pre-event webinar will be hosted in October first week to provide a walkthrough of business process, related ISDA CDM features, & test data for the event
Each participating team (of up to four people) will be assessed by a panel of independent judges over the two days, with prizes awarded in each of the locations
Participating teams are free to code on their technology platform of choice, whether that is on a centralized database or a distributed ledger (DLT) solution
The final day of the hackathon will include an opportunity for each team to pitch its ideas to an audience made up of other teams, industry guests, academics & journalists
Post-event, EY will publish a report summarizing the event outcomes & ISDA CDM adoption opportunities/challenges.