DRW and Marex Execute First Canton OTC Swap Using S&P Index

Trading firms DRW and Marex have completed a blockchain-based derivatives transaction using an S&P Dow Jones Indices benchmark, bringing institutional swap trading onto the Canton Network through a platform designed to reduce fragmented recordkeeping. The October 13 announcement confirms that the firms executed a total return swap through Derivnex, an institutional derivatives platform built on Canton. The contract references the iBoxx USD Liquid Investment Grade Index, with Kaiko providing a tokenized representation of the benchmark and distributing official index values for ongoing valuation.