Barclays RepoHack 2023

27 – 28 September 2023

In-person event at Barclays Rise London, 41 Luke St, London, EC2A 4DP.

Resources

Background material

ICMA’s resources on CDM for repo and bonds

• ICMA’s introduction to the CDM
• ICMA’s factsheet on CDM for repo and bonds
• ICMA’s Digital representation of transactions: CDM for repo and bonds
• ICMA’s update on CDM for repo and bonds (Q2 2023)
• ICMA’s demonstration for automating repo transactions

Barclays’ published resources on post-trade industry architecture:

• Barclays’ white paper on “Industry adoption scenarios for authoritative data stores using the International Swaps and Derivatives Association Common Domain Model”, Aishwarya Nair and Lee Braine, Journal of Financial Market Infrastructures, Volume 9, Number 4 (June 2021)
• Barclays’ white paper on “Simulation of Derivatives Post-Trade Services using an Authoritative Data Store and the ISDA Common Domain Model”, Vikram Bakshi, Aishwarya Nair and Lee Braine (October 2021)
• Barclays’ video of a prototype demonstration: “Barclays simulation of post-trade services using a CDM-based Authoritative Data Store”Vikram Bakshi, Aishwarya Nair and Lee Braine (April 2023)

Barclays’ previous industry hackathon events on post-trade services:

• Barclays DerivHack 2018 – this event validated the use of CDM 1.0 for processing interest rate swaps and credit default swaps
• Barclays DerivHack 2019 – this event applied CDM for processing bonds in a centralised trade utility.

Event materials

A Summary of Barclays RepoHack 2023 was publicly released in December 2023, providing a retrospective on the event. This included an introduction to repos, an overview of the industry problems and potential solutions, the current and a potential future industry architecture, and the hackathon event itself.

Note the following resources were provided to the hackathon participants before and during the event:

• Pre-event exercises (distributed to participants 2 weeks before the event): Participants were provided with access to Barclays’ simulation, API specifications and a set of pre-event exercises to familiarise them with the simulation and allow them to setup their environment prior to the hackathon
• Event schedule
• Use case challenges (distributed to participants on the first day of the hackathon, 27 September 2023): Participants were provided with four use case challenges that increased in complexity, from simulating the trade lifecycle of a simple bilateral trade, then a cleared trade, followed by a trade involving a tri-party custodian and finally exploring settlements using a tokenised security platform.

© Barclays Bank PLC 2023.

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