CDRX

CDR testing began with a closed set of clients.

Roadmap for regulator engagement laid out.

Development of Exchange started.

Agreement to use (and right to buy) sharemarket.com for Exchange.

White paper released to the public.

Audit and penetration testing of Exchange begins (weekly);
Launch of Exchange (ver 0.9) - closed beta;
Indices defined;
Non-securitised market makers onboarded;
Listing service provider agreements signed;
Algo toolkit (ver 0.9 beta) launches.

Release of Exchange (ver 1.0);
Rating agency agreement for new issuance signed;
Launch of industry think tank – tier 1 banks and brokers, business and technology;
Algo toolkit (ver 1.0) released;
CCP agreement signed;
CDR market makers onboarded;
Regulator approvals received (small jurisdictions);
Equity CDRs open to the market in approved jurisdictions;
Exchange trading of CDRs begins among approved investors;
Extension into cash bond CDRs.

Indices launch and licensing (including 6 months of history); Sponsorship of collaborative R&D programme across industry and universities;
Custody service (ver 0.9 beta) launches;
Launch of institutional OTC desk.

Custody service (ver 1.0) released;
Extension into derivative CDRs and native issuance;
Licensing of liquidity to brokers and banks;
Purchase of stake in an authorised and regulated exchange;
Release of decentralised Exchange (ver 2.0), non-securitised .

Regulator approvals received (mid-sized jurisdictions).

Regulator approvals received (large jurisdictions).

Purchase of stake in traditional bank enabling improved ‘real-world’ integration.