Real-Time Pricing Application on Canton

A multi-party on-chain fund pricing solution transforming fund management workflows

Background

The real-time pricing application on Canton transforms funds‘ and brokers‘ sequential reporting and reconciliation processes by leveraging the Canton network to bring multi-party collaboration, real-time visibility, and streamlined auditability.

In the case of its first user — 5North and QCP — their existing workflow involved QCP reporting executed operations to the fund, with these reports then shared with a fund administrator for reconciliation. While this approach had served the industry well, it was a perfect candidate for optimization with Canton as the core infrastructure.

USED BY

The Application

The application enables real-time collaboration with an immutable audit trail that‘s accessible immediately by fund administrators and regulators.

Here’s the workflow for its first user:

Proposal
QCP, as the broker, submits proposed changes to the fund’s inventory directly on the application, that may or may not have been pre-agreed.

Approval
5North, as the fund owner, reviews and agrees to or rejects the proposed changes asynchronously.

Confirmation
Following approval, QCP executes the trade on external venues and then confirms the executed operation within the application, creating an immutable record of the booked trade.

The application is underpinned by Kaiko‘s role as a regulated calculation agent, providing independent hourly pricing across the fund‘s entire inventory—from spot crypto and derivatives to complex structured products—ensuring all parties work from consistent, rigorously calculated valuations.