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

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Blockchain Technology and Application (CBCC 2019)

Part of the book series: Communications in Computer and Information Science ((CCIS,volume 1176))

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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.

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References

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Author information

Authors and Affiliations

  1. China Financial Futures Exchange, Shanghai, China

    Qing Zhang, Jian Gao, Qiqiang Qin & Chenyu Wang

  2. Shanghai Financial Futures Information Technology Co., Ltd., Shanghai, China

    Qing Zhang, Jian Gao, Qiqiang Qin & Chenyu Wang

  3. College of Software Technology, Zhejiang University, Hangzhou, China

    Keting Yin

Authors
  1. Qing Zhang
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  2. Jian Gao
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  3. Qiqiang Qin
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  4. Chenyu Wang
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  5. Keting Yin
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Corresponding author

Correspondence to Keting Yin .

Editor information

Editors and Affiliations

  1. Fudan University, Shanghai, China

    Xueming Si

  2. Huazhong University of Science and Technology, Wuhan, China

    Hai Jin

  3. Chinese Academy of Sciences, Beijing, China

    Yi Sun

  4. Central University of Finance and Economics, Beijing, China

    Jianming Zhu

  5. Central University of Finance and Economics, Beijing, China

    Liehuang Zhu

  6. Harbin University of Science and Technology, Harbin, China

    Xianhua Song

  7. National Academy of Guo Ding, Harbin, China

    Zeguang Lu

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© 2020 Springer Nature Singapore Pte Ltd.

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Cite this paper

Zhang, Q., Gao, J., Qin, Q., Wang, C., Yin, K. (2020). FutureOTC: An Intelligent Decentralized OTC Option Trading and E-contract Signing System. In: Si, X., et al. Blockchain Technology and Application. CBCC 2019. Communications in Computer and Information Science, vol 1176. Springer, Singapore. https://doi.org/10.1007/978-981-15-3278-8_2

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  • DOI: https://doi.org/10.1007/978-981-15-3278-8_2

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  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-15-3277-1

  • Online ISBN: 978-981-15-3278-8

  • eBook Packages: Computer ScienceComputer Science (R0)

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