The CDM essentially enables IT systems to ‘speak the same language’. It is a standardised, machine-readable and machine-executable blueprint for how financial products are traded and managed across the transaction lifecycle, initially developed by ISDA for derivatives.

As such, the CDM lends itself to DLT or blockchain applications where market particpants and their computer nodes in a DLT network can use the CDM to exchange and validate transaction data when processing a repo transaction and related lifecycle events such as clearing or settlement processes, or changes of a repo rate.

See also CDM video explainer. Further information is available on ICMA’s CDM webpage.

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