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FutureOTC: An Intelligent Decentralized OTC Option Trading and E-contract Signing System

  • Qing Zhang
  • Jian Gao
  • Qiqiang Qin
  • Chenyu Wang
  • Keting YinEmail author
Conference paper
  • 7 Downloads
Part of the Communications in Computer and Information Science book series (CCIS, volume 1176)

Abstract

This paper proposes a decentralized, reliable and intelligent system - FutureOTC for China’s over-the-counter (OTC) option market based on Consortium Blockchain. Firstly, FutureOTC combines robust Byzantine Fault Tolerance (RBFT) with electronic Identity (EID) and electronic Business License (EBL) to provide solutions for personal and institutional authentication. Secondly, we apply smart contracts to bring OTC option trading more intelligent and reliable, which includes online enquiry, E-contract creation, E-contract signing, reporting and clearing. Last but not the least, we introduce penetrating supervision by setting administrative institution as a node on Consortium Blockchain. Regulators can conduct 7 * 24 h remote supervision based on blockchain address, which reduces institutions’ workloads to report daily and ensures the authenticity of OTC option market data.

Keywords

Consortium blockchain OTC Authentication E-contract Smart contract Supervision 

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Copyright information

© Springer Nature Singapore Pte Ltd. 2020

Authors and Affiliations

  • Qing Zhang
    • 1
    • 2
  • Jian Gao
    • 1
    • 2
  • Qiqiang Qin
    • 1
    • 2
  • Chenyu Wang
    • 1
    • 2
  • Keting Yin
    • 3
    Email author
  1. 1.China Financial Futures ExchangeShanghaiChina
  2. 2.Shanghai Financial Futures Information Technology Co., Ltd.ShanghaiChina
  3. 3.College of Software TechnologyZhejiang UniversityHangzhouChina

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