SYSTEM AND METHOD FOR DISTRIBUTED LEDGER BASED INTRADAY TRADING

Abstract

To provide a system and method for distributed-ledger based intraday trading.SOLUTION: A method may include the steps of: receiving a digital representation of an amount of collateral for a cash borrower; receiving a digital representation of an amount of cash for a cash provider; receiving agreement from the cash borrower and the cash provider to terms of an intraday trade comprising a duration of the intraday trade, a collateral trade amount of the collateral, and a cash trade amount of cash; executing, by a smart contract, the intraday trade by providing the trade amount of the digital collateral to the cash provider and the cash trade amount of the digital cash to the cash borrower; and returning, by the smart contract, the trade amount of the digital collateral to the cash borrower and the cash trade amount of the digital cash to the cash provider at the completion of the intraday trade.SELECTED DRAWING: Figure 2

Description

[Technical field]

[0001] Related Applications

[0001] This application claims priority to and the benefit of U.S. Provisional Patent Application No. 62 / 757,614, filed November 8, 2018, the disclosure of which is incorporated herein by reference in its entirety.

[0002] FIELD OF THE DISCLOSURE

[0002] Embodiments relate generally to systems and methods for distributed ledger-based intraday trading, settlement, and recordkeeping. [Background technology]

[0003]

[0003] The cost of liquidity increases with the decline in the availability of intraday liquidity. The current availability of intraday liquidity is typically limited by unguaranteed and uncertain credits which increases credit / counterparty risks. The existing operational processes in the repo market are not designed to actively manage intraday liquidity. It would prevent meaningful use of intraday repo transactions and, as a result, limit capital deployment. Summary of the Invention [Problem to be solved by the invention]

[0004]

[0004] A system and method for distributed ledger-based intraday trading, settlement, and recordkeeping is disclosed. In one embodiment, a method for distributed ledger-based intraday trading in an information processing device including at least one computer processor includes the steps of: (1) receiving, in the distributed ledger, a digital representation of a collateral amount of a cash borrower; (2) receiving, in the distributed ledger, a digital representation of a cash provider's amount of cash; (3) receiving, in the distributed ledger, agreements regarding the terms of the intraday trading, including a duration of the intraday trading, a collateral transaction amount of the collateral, and a cash transaction amount of the cash, from the cash borrower and the cash provider; (4) executing the intraday trading by providing, by the smart contract, the transaction amount of the digital collateral to the cash provider and the cash transaction amount of the digital cash to the cash borrower; and (5) returning, by the smart contract, upon completion of the intraday trading, the transaction amount of the digital collateral to the cash borrower and the cash transaction amount of the digital cash to the cash provider. [Means for solving the problem]

[0005]

[0005] In one embodiment, the collateral amount that is digitally represented on the distributed ledger may be ringfenced or locked by a collateral custodian.

[0006] In one embodiment, cash amounts digitally represented on the distributed ledger can be divided or segregated from other cash by the cash bank.

[0006]

[0007] In one embodiment, a digital representation of the collateral amount is written to a digital wallet of the cash borrower.A digital representation of the cash amount is written to a digital wallet of the cash provider.

[0007]

[0008] In one embodiment, the collateral amount digitally represented on the distributed ledger may be the same as the collateral transaction amount, and the cash amount digitally represented on the distributed ledger may be the same as the cash transaction amount.

[0008]

[0009] In one embodiment, the duration of an intraday transaction may be a few minutes or a few hours.

[0010] In one embodiment, the collateral may be securities.

[0011] In one embodiment, the method may further include verifying that the digital representation of the collateral amount is sufficient for the collateral transaction amount, and verifying that the digital representation of the cash amount is sufficient for the cash transaction amount.

[0009]

[0012] According to another embodiment, a method for distributed ledger-based intraday trading in an information processing device including at least one computer processor may include the steps of: (1) receiving, in the distributed ledger, agreements regarding terms of the intraday trade from a cash borrower and a cash provider, including a duration of the intraday trade, a collateral trade amount of the collateral, and a cash trade amount of the cash; (2) receiving, in the distributed ledger, a digital representation of the collateral trade amount of the cash borrower; (3) receiving, in the distributed ledger, a digital representation of the cash provider's cash trade amount; (4) executing the intraday trade by providing, by the smart contract, the trade amount of the digital collateral to the cash provider and the cash trade amount of the digital cash to the cash borrower; and (5) returning, by the smart contract, upon completion of the intraday trade, the trade amount of the digital collateral to the cash borrower and the cash trade amount of the digital cash to the cash provider.

[0010]

[0013] In one embodiment, the collateral transaction amount of the collateral is limited or locked by a collateral custodian. The cash transaction amount of the cash can be divided or segregated from other cash by the cash bank.

[0011]

[0014] In one embodiment, a digital representation of the collateral transaction amount is written to the cash borrower's digital wallet, which may be located on a second distributed ledger.

[0012]

[0015] In one embodiment, a digital representation of the cash transaction amount is written to a digital wallet of the cash provider, which may be located on a second distributed ledger.

[0013]

[0016] In one embodiment, the duration of an intraday transaction may be a few minutes or a few hours.

[0017] In one embodiment, the collateral may be securities.

[0018] In order to facilitate a more complete understanding of the present invention, reference is now made to the accompanying drawings, in which: [Brief description of the drawings]

[0014] [Figure 1]

[0019] FIG. 1 discloses a system for intraday trading according to one embodiment. [Diagram 2]

[0020] FIG. 2 illustrates a method for intraday trading according to one embodiment. DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS

[0015]

[0021] Embodiments relate to systems and methods for intraday trading, settlement, and recordkeeping. Embodiments may use a distributed ledger (e.g., a blockchain-based ledger) in a multi-participant intraday buy-back platform.

[0016]

[0022] Embodiments may employ instant or near instant settlement and recording of assets, as well as expiration mechanisms to minimize the risk of no cash / securities return upon maturity.

[0017]

[0023] In embodiments, a transaction flow may include the following elements or phases: (1) digital asset issuance, (2) trade execution, (3) trade settlement, (4) trade maturity, and (5) digital asset redemption. For example, when digital asset balances are issued, representing cash and a security interest in collateral, respectively, a cash provider and a borrower may agree to transaction terms, execute the transaction, and settle via an exchange of digital asset balance ownership. Ownership of the digital asset balance may be transferred to an underlying, represented asset (e.g., A security may provide the legal right to transfer assets (such as cash, securities, or secured assets) from one party to another.

[0018]

[0024] 1, a system for intraday trading according to one embodiment is disclosed. The system 100 may include a cash provider 110, a cash borrower 120, a collateral custodian agent 130, a collateral custodian 140, a cash bank agent 150, a cash bank 160, and an intraday trading engine 170.

[0019]

[0025] In one embodiment, the cache provider 110 is a provider of cache and the cash borrower 120 is a borrower of cache. The cache provider 110 and the cash borrower 120 may be individuals, corporations, etc. The cash borrower may have assets.

[0020]

[0026] The collateral custodian 140 may manage and hold collateral for the cash borrower 110. The collateral custodian agent 140 may use the intraday trading engine 170 to represent or act on behalf of the collateral custodian 140.

[0021]

[0027] The cash bank 160 may be any suitable financial institution capable of holding an account for the cash provider 110. The cash bank agent 150 may represent or act on behalf of the cash bank 160 using an intraday trading engine 170.

[0022]

[0028] The intraday trading engine 170 may be a computer program or application executing on a server, cloud, etc. that may facilitate the execution, settlement, and maturity and record-keeping of ownership positions for intraday trading. The intraday trading engine 170 may provide a distributed ledger for execution and record-keeping mechanisms for certain functions.

[0023]

[0029] In one embodiment, the cash providers 110 and cash borrowers 120 may be represented by nodes in a distributed ledger network, along with collateral custodian agents 130 and cash bank agents 150, for example via ledgers 115, 125, 135, and 155, respectively.

[0024]

[0030] With reference to FIG. 2, a method for distributed ledger based intraday trading according to one embodiment is disclosed.

[0031] At step 205, the cash borrower and cash provider may request issuance of digital asset balances (collateral and cash, respectively), e.g., via an intraday trading engine. For example, the cash borrower and cash provider may instruct their respective custodians (e.g., collateral custodian and cash bank) to segregate the underlying assets from the general pool of assets held by the custodians.

[0025]

[0032] In one embodiment, the intraday trading engine may communicate this request to a collateral agent and a cash bank agent.

[0033] At step 210, the collateral custodian receives the digital collateral balance of the cash borrower. Collateral may be digitized by restricting, locking, or otherwise isolating the collateral represented by the digital balance and writing a representation of the digitized collateral to a distributed ledger, effectively preventing the cash borrower from taking other actions with the underlying collateral represented by the digital balance. In one embodiment, legal title to the securities represented by the digital collateral balance may be transferred to an account for the benefit of the cash provider.

[0026]

[0034] In one embodiment, the collateral agent determines whether the underlying collateral meets the valuation and eligibility requirements of the cash borrower's requested collateral balance in the intraday trading engine. The competent authority may be responsible for ensuring that the competent authority meets certain requirements.

[0027]

[0035] In one embodiment, the restriction and / or assignment of title can be written to the distributed ledger as an issuance of digital collateral. For example, the issuance of digital collateral can be written to a digital wallet of the cash borrower. In one embodiment, the digital wallet can be in a side distributed ledger.

[0028]

[0036] In step 215, the cash bank may digitize the cash by partitioning the cash represented by the cash provider's digital cash balance and writing a representation of the digital cash to the distributed ledger. This effectively blocks the cash provider from taking other actions with the underlying cash that the digital cash represents. In one embodiment, the cash bank agent may be responsible for ensuring that the underlying cash satisfies the cash balances requested by the cash lenders in the intraday trading engine.

[0029]

[0037] In one embodiment, the division can be written to the distributed ledger as an issuance of digital cash. For example, the issuance of digital cash is written to a digital wallet of the cash provider. In one embodiment, the digital wallet can be in a side distributed ledger.

[0030]

[0038] The intraday trading engine may have data transparency to the cash borrower's collateral account with the collateral custodian and the cash provider's cash account with the cash provider's bank. Alternatively or in addition, the intraday trading engine may also have data transparency to the cash borrower's and cash provider's digital wallets.

[0031]

[0039] It should be noted that steps 205, 210, and 215 may be performed in any suitable order, even simultaneously.

[0040] In one embodiment, if the collateral is a digital collateral, it may not be necessary to digitize the collateral.

[0032]

[0041] In step 220, the cash borrower and the cash provider may agree on the terms of the intraday transaction. In one embodiment, the cash borrower and the cash provider may interact bilaterally. In another embodiment, the cash borrower and the cash provider may Cash borrowers and cash providers may interact in a marketplace where active trading is offered and bids are submitted. Terms of the transaction may include the duration (e.g., minutes, hours, etc.), type of collateral (e.g., securities), collateral amount, cash amount, eligibility schedule, currency, price, interest, and any other information required and / or desired. Agreement on the terms of the transaction may constitute the lawful execution of an intraday transaction.

[0033]

[0042] In one embodiment, the intraday trading engine may verify that each party to a transaction has the necessary digital asset balances before the terms of the transaction can be agreed upon and the transaction executed. The agreed-upon transactions are written to a distributed ledger, which can then provide the necessary orchestration to effect the settlement and maturity of the transactions. For example, smart contracts The buyer can then coordinate the transaction.

[0034]

[0043] It should be noted that agreement to the trade terms (e.g., step 220) may precede digitization of the collateral and / or digitization of the cash (e.g., steps 210 and 215). For example, once a trade is agreed to, the intraday trading engine may have the collateral custodian and the cash bank digitize the collateral and cash required for the trade.

[0035]

[0044] In step 225, the cash provider's digital cash is transferred to the cash borrower (e.g., to the cash borrower's digital wallet) and in return, the cash borrower's digital collateral is transferred to the cash provider (e.g., to the cash provider's digital wallet). This may occur simultaneously, substantially simultaneously, or in any desired order. The exchange of ownership is facilitated by and written to the distributed ledger.

[0036]

[0045] In step 230, the cash borrower can redeem the digital cash for fiat cash. The agent and / or bank can use the records maintained by the distributed ledger to validate the cash borrower's ownership and provide the cash to the cash borrower. In one embodiment, the cash borrower may be required to re-digitize their cash balance prior to maturity.

[0037]

[0046] At the end of the day trading, the digital cash is returned to the cash provider and the digital collateral is returned to the cash borrower, in step 235. For example, the digital collateral is returned to the cash borrower's digital wallet and the digital cash is returned to the cash provider's digital wallet. In one embodiment, a smart contract can coordinate the return of the digital assets to each party.

[0038]

[0047] The cash borrower may further pay the agreed upon interest and fees to the cash provider.

[0048] In one embodiment, refunds or updated balances to the parties' digital wallets are written to the distributed ledger.

[0039]

[0049] At step 240, the cash borrower and cash lender may choose to redeem their respective digital asset balances. The collateral agent and cash bank agent may validate the cash borrower's and cash lender's ownership interests in the digital asset balances via the distributed ledger. The collateral custodian and cash bank may then release any partitions, restrictions, or locks on the collateral assets and cash assets, respectively.

[0040]

[0050] The disclosures of U.S. Patent Application Nos. 16 / 653,369, 16 / 558,415, 15 / 869,421, 62 / 725,331, and 62 / 446,185 are incorporated by reference herein in their entireties.

[0041]

[0051] Although several embodiments are disclosed, it should be recognized that these embodiments are not mutually exclusive and that particular elements or features from one embodiment can be used with another embodiment.

[0042]

[0052] Below, general aspects of embodiments of the systems and methods of the present invention are described.

[0053] The inventive system or a portion of the inventive system may be in the form of a "processing machine", such as, for example, a general purpose computer. The term "processing machine" as used herein should be understood to include at least one processor using at least one memory. The at least one memory stores a set of instructions. The instructions may be permanently or temporarily stored in one or more memories of the processing machine. The processor executes the instructions stored in the one or more memories to process data. The set of instructions may include various instructions to perform a particular task or tasks, such as those described above. Such a set of instructions to perform a particular task may be characterized as a program, a software program, or simply software.

[0043]

[0054] In one embodiment, the processing machine may be a special purpose processor.

[0055] As noted above, a processing machine executes instructions stored in one or more memories to process data. This processing of data may, for example, be in response to commands by one or more users of the processing machine, in response to previous processing, in response to requests by another processing machine, and / or other input.

[0044]

[0056] As mentioned above, the processing machine used to implement the present invention can be a general-purpose computer. However, the processing machine described above can utilize any of a wide variety of other technologies, including special purpose computers, e.g., computer systems including microcomputers, minicomputers, or mainframes, programmable microprocessors, microcontrollers, peripheral integrated circuit elements, CSICs (customer specific integrated circuits) or ASICs (application specific integrated circuits) or other integrated circuits, logic circuits, digital signal processors, programmable logic devices such as FPGAs, PLDs, PLAs, or PALs, or other devices or configurations of devices capable of implementing the steps of the process of the present invention.

[0045]

[0057] The processing machine used to implement the present invention may utilize any suitable operating system. Thus, embodiments of the present invention may be implemented using any suitable operating system, including, but not limited to, the iOS operating system, the OS X operating system, the Android operating system, the Microsoft Windows operating system, the Unix operating system, the Linux operating system, the Xenix operating system, the IBM AIX operating system, the Hewlett-Packard UX operating system, the Novell This may include processing machines running the Netware™ operating system, the Sun Microsystems Solaris™ operating system, the OS / 2™ operating system, the BeOS operating system, the Macintosh operating system, the Apache operating system, the OpenStep™ operating system, or another operating system or platform.

[0046]

[0058] It will be appreciated that in order to implement the methods of the present invention as described above, it is not necessary for the processor and / or memory of the processing machine to be physically located at the same geographic location. That is, each of the processors and memories used by the processing machine may be located at separate geographic locations and communicatively connected in any suitable manner. In addition, it will be appreciated that each of the processors and / or memories may be comprised of different physical devices. Thus, it will be appreciated that it is not necessary for the processor to be a single device at one location and the memory to be another single device at another location. is not required. That is, it is contemplated that the processor may be two devices in two different physical locations. The two separate devices may be connected in any suitable manner. Additionally, the memory may include two or more portions of memory in two or more physical locations.

[0047]

[0059] To further explain, the processing as described above is performed by various components and various memories. However, it is understood that the processing performed by two separate components as described above may be performed by a single component according to further embodiments of the present invention. Furthermore, the processing performed by one separate component as described above may be performed by two separate components. Similarly, the memory storage performed by two separate memory portions as described above may be performed by a single memory portion according to further embodiments of the present invention. Furthermore, the memory storage performed by one separate memory portion as described above may be performed by two memory portions.

[0048]

[0060] Further, various technologies may be used to provide communication between the various processors and / or memories, and to enable the processors and / or memories of the present invention to communicate with any other entity, i.e., to obtain further instructions or to access and use a remote memory store. Such technologies used to provide such communication may include, for example, a network, the Internet, an intranet, an extranet, a LAN, Ethernet, wireless communication via a cell tower or satellite, or any client-server system that provides communication. Such communication technologies may use any suitable protocol, such as, for example, TCP / IP, UDP, or OSI.

[0049]

[0061] As mentioned above, a set of instructions may be used in the process of the present invention. The set of instructions may be in the form of a program or software. The software may be in the form of, for example, system software or application software. The software may also be in the form of, for example, a collection of separate programs, a program module within a larger program, or a portion of a program module. The software used may also include modular programming in the form of object-oriented programming. The software tells the processing machine what to do with the data being processed.

[0050]

[0062] It is further understood that the instructions or sets of instructions used in the implementation and operation of the present invention may be in any suitable form such that a processing machine can read the instructions. For example, the instructions forming a program may be in the form of a suitable programming language that is converted into machine code or object code to enable one or more processors to read the instructions. That is, written lines of programming code or source code in a particular programming language are converted into machine code using a compiler, assembler, or interpreter. The machine code is, for example, binary coded machine instructions that are specific to a particular type of processing machine, i.e., a particular type of computer. The computer understands the machine code.

[0051]

[0063] Any suitable programming language may be used in accordance with various embodiments of the present invention. By way of example, programming languages ​​used may include, for example, assembly language, Ada, APL, Basic, C, C++, COBOL, dBase, Forth, Fortran, Java, Modula-2, Pascal, Prolog, REXX, Visual Basic, and / or JavaScript. Furthermore, it is not necessary that a single type of instruction or a single programming language be utilized in connection with the operation of the systems and methods of the present invention. Rather, any number of different programming languages ​​may be used. Any programming language may be utilized as needed and / or desired.

[0052]

[0064] Similarly, the instructions and / or data used in practicing the present invention may utilize any compression or encryption technique or algorithm, as may be desired. An encryption module may be used to encrypt the data. Additionally, files or other data may be decrypted using, for example, an appropriate decryption module.

[0053]

[0065] As mentioned above, the present invention can be embodied in the form of a processing machine, including, for example, a computer or computer system including at least one memory, by way of example. It should be understood that the set of instructions, i.e., software, that enables the computer operating system to carry out the above-mentioned operations, may be included in any of a wide variety of one or more media, as desired. Furthermore, the data processed by the set of instructions may also be included in any of a wide variety of one or more media. That is, the particular medium within the processing machine utilized to hold the set of instructions and / or data used in the present invention, i.e., memory, may take, for example, any of a variety of physical forms or transmission media. By way of example, the medium may be in the form of paper, transparency, compact disc, DVD, integrated circuit, hard disk, floppy disk, optical disk, magnetic tape, RAM, ROM, PROM, EPROM, wire, cable, fiber, communication channel, satellite transmission, memory card, SIM card, or other remote transmission, as well as any other medium or source of data that can be read by the processor of the present invention.

[0054]

[0066] Furthermore, the memory or memories used in a processing machine implementing the present invention may be in any of a wide variety of forms that enable the memory to hold instructions, data, or other information, as desired. Thus, the memory may be in the form of a database for holding data. The database may use any desired file organization, such as, for example, a flat file organization or a relational database organization.

[0055]

[0067] In the systems and methods of the present invention, various "user interfaces" are utilized to allow a user to interface with one or more processing machines used to implement the present invention. As used herein, a user interface includes any hardware, software, or combination of hardware and software used by a processing machine that allows a user to interact with the processing machine. A user interface may be in the form of, for example, a dialog screen. A user interface may further include any of a mouse, a touch screen, a keyboard, a keypad, a voice reader, a voice recognizer, a dialog screen, a menu box, a list, a check box, a toggle switch, a push button, or any other device that allows a user to receive information regarding the operation of the processing machine as the other device processes a set of instructions and / or provides information to the processing machine. Thus, a user interface is any device that provides communication between a user and a processing machine. Information provided by a user to a processing machine through a user interface may be in the form of, for example, a command, a selection of data, or some other input.

[0056]

[0068] As discussed above, a user interface is utilized by a processing machine to execute a set of instructions so that the processing machine processes data for a user. A user interface is generally used by a processing machine to interact with a user to convey information or receive information from the user. However, in accordance with some embodiments of the systems and methods of the present invention, a human user may be interacted with by a processing machine of the present invention. It should be understood that it is not necessary for a user interface utilized in the present invention to actually interact with the user interface utilized. Rather, it is contemplated that the user interface of the present invention may interact, i.e., communicate information to and receive information from, another processing machine rather than a human user. Thus, the other processing machine may be considered a user. Additionally, it is contemplated that the user interface utilized in the present system and method may interact, in part, with another processing machine or machines as well as in part with a human user.

[0057]

[0069] It will be readily understood by those skilled in the art that the present invention is susceptible to a wide range of utility and applications. Numerous embodiments and adaptations of the present invention other than those described herein, as well as numerous variations, modifications, and equivalents, will be apparent from, or will reasonably be suggested by, the present invention and the foregoing description of the invention without departing from the spirit or scope of the invention.

[0058]

[0070] Thus, while the present invention has been described in detail herein with reference to exemplary embodiments, it should be understood that the disclosure is merely illustrative and exemplary of the invention, and is made to provide an enabling disclosure of the invention. Thus, the foregoing disclosure is not intended to be construed as limiting the invention or otherwise excluding any other such embodiments, adaptations, variations, modifications, or equivalents.

Claims

1. 1. A method for distributed ledger-based intraday trading, comprising: an information processing device having at least one computer processor, the method being executed by the computer processor, the method comprising: receiving, on the first distributed ledger, a digital representation of the cash borrower's collateral from a cash borrower's digital wallet on the second distributed ledger; receiving, on the first distributed ledger, a digital representation of cash for a cash provider from a digital wallet of the cash provider on the second distributed ledger; receiving, on the first distributed ledger, from the cash borrower and the cash provider agreements regarding terms of the intraday transaction, including a maturity of the intraday transaction, a collateral transaction amount of the collateral, and a cash transaction amount of the cash; On the first distributed ledger, the computer processor: providing the collateral transaction amount to a digital wallet of the cash provider and providing the cash transaction amount to a digital wallet of the cash borrower; writing a first change in ownership of the cash transaction amount and the collateral transaction amount to the first distributed ledger; upon the maturity of the intraday transaction, returning the collateral transaction amount to the cash borrower's digital wallet and returning the cash transaction amount to the cash provider's digital wallet; writing a second change in ownership of the cash transaction amount and the collateral transaction amount to the first distributed ledger; and and adjusting the intraday trading by executing:

2. The collateral digitally represented on the first distributed ledger is restricted by a collateral custodian.

2. The method of claim 1, wherein the first and second inputs are stored or locked.

3. 2. The method of claim 1, wherein the cash digitally represented in the first distributed ledger is segregated from other cash by a cash bank.

4. The method of claim 1 , wherein the digital representation of the collateral is written to a digital wallet of the cash borrower.

5. The method of claim 1 , wherein the digital representation of the cache is written to a digital wallet of the cache provider.

6. 2. The method of claim 1, wherein the collateral digitally represented in the first distributed ledger is the same as the collateral transaction amount.

7. 2. The method of claim 1, wherein the amount of the cash digitally represented on the first distributed ledger is the same as the cash transaction amount.

8. The method of claim 1 , wherein the maturity of the intraday trade is either a few minutes or a few hours.

9. The method of claim 1 , wherein the collateral comprises a security.

10. 2. The method of claim 1 , verifying that the digital representation of the collateral is sufficient for the collateral transaction amount; and verifying that the digital representation of the cash is sufficient for the cash transaction amount.

11. 1. A method for distributed ledger-based intraday trading in an information processing device including at least one computer processor, the method being executed by the computer processor and comprising: receiving, in a first distributed ledger, agreements from cash borrowers and cash providers regarding terms of intraday transactions, including a maturity of said intraday transactions, a collateral transaction amount of said collateral, and a cash transaction amount of said cash; receiving, on the first distributed ledger, a digital representation of the collateral transaction amount of the cash borrower from a digital wallet of the cash borrower on a second distributed ledger; receiving, on the first distributed ledger, from a cash provider's digital wallet, a digital representation of the cash provider's cash; On the first distributed ledger, the computer processor: providing the collateral transaction amount to the cash provider's digital wallet and the cash transaction amount to the cash borrower's digital wallet; writing a first change in ownership of the cash transaction amount and the collateral transaction amount to the first distributed ledger; upon the maturity of the intraday transaction, returning the collateral transaction amount to the cash borrower's digital wallet and returning the cash transaction amount to the cash provider's digital wallet; and writing a second change in ownership of the cash trade amount and the collateral trade amount to the first distributed ledger.

12. 12. The method of claim 11, wherein the collateral transaction amount of collateral is limited or locked by a collateral custodian.

13. 12. The method of claim 11, wherein the cash transaction amount of cash is segregated from other cash by a cash bank.

14. The method of claim 11 , wherein the digital representation of the collateral is written to a digital wallet of the cash borrower.

15. 15. The method of claim 14, wherein the digital wallet is on a second distributed ledger.

16. The method of claim 11 , wherein the digital representation of the cache is written to a digital wallet of the cache provider.

17. 12. The method of claim 11, wherein the digital wallet is on a second distributed ledger.

18. 12. The method of claim 11, wherein the maturity of the intraday trade is either a few minutes or a few hours.

19. The method of claim 11 , wherein the collateral comprises a security.

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