Christopher D. Clack
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View article: Transforming commercial contracts through computable contracting
Transforming commercial contracts through computable contracting Open
Contracts are an essential and fundamental component of commerce and society, serving to clarify agreements between multiple parties. While digital technologies have helped to automate many activities associated with contracting, the contr…
View article: Incorporation of causality structures to complex network analysis of time-varying behaviour of multivariate time series
Incorporation of causality structures to complex network analysis of time-varying behaviour of multivariate time series Open
This paper presents a new methodology for characterising the evolving behaviour of the time-varying causality between multivariate time series, from the perspective of change in the structure of the causality pattern. We propose that such …
View article: Languages for Smart and Computable Contracts
Languages for Smart and Computable Contracts Open
Smart Contracts use computer technology to automate the performance of aspects of commercial agreements. Yet how can there be confidence that the computer code is faithful to the intentions of the parties? To understand the depth and subtl…
View article: Simulating an Object-Oriented Financial System in a Functional Language
Simulating an Object-Oriented Financial System in a Functional Language Open
This paper summarises a successful application of functional programming within a commercial environment. We report on experience at Accenture's Financial Services Solution Centre in London with simulating an object-oriented financial syst…
View article: Smart Close-out Netting
Smart Close-out Netting Open
Smart Close-out Netting aims to standardise and automate specific operational aspects of the legal and regulatory processes of close-out netting for prudentially regulated financial institutions. This article provides a review, analysis an…
View article: Dynamic Coupling and Market Instability
Dynamic Coupling and Market Instability Open
We examine dynamic coupling and feedback effects between High Frequency Traders (HFTs) and how they can destabilize markets. We develop a general framework for modelling dynamic interaction based on recurrence relations, and use this to sh…
View article: The Sensitivity of Trivariate Granger Causality to Test Criteria and Data Errors
The Sensitivity of Trivariate Granger Causality to Test Criteria and Data Errors Open
Trivariate Granger causality analysis seeks to distinguish between "true" causality and "spurious" causality results from the topology of the system. However, this analysis is sensitive both to the choice of test criteria and the presence …
View article: Smart Derivatives Contracts: the ISDA Master Agreement and the automation of payments and deliveries
Smart Derivatives Contracts: the ISDA Master Agreement and the automation of payments and deliveries Open
High-value derivatives contracts require substantial legal protection and often utilise standardised legal documentation provided by the International Swaps and Derivatives Association (ISDA). Smart Derivatives Contracts aim to automate ma…
View article: Distributed Ledger Privacy: Ring Signatures, Möbius and CryptoNote
Distributed Ledger Privacy: Ring Signatures, Möbius and CryptoNote Open
Distributed ledger and blockchain systems are expected to make financial systems easier to audit, reduce counter-party risk and transfer assets seamlessly. The key concept is a token controlled by a cryptographic private key for spending, …
View article: A Blockchain Grand Challenge: Smart Financial Derivatives
A Blockchain Grand Challenge: Smart Financial Derivatives Open
FIELD GRAND CHALLENGE article Front. Blockchain, 26 October 2018 Volume 1 - 2018 | https://doi.org/10.3389/fbloc.2018.00001
View article: Temporal Aspects of Smart Contracts for Financial Derivatives
Temporal Aspects of Smart Contracts for Financial Derivatives Open
Implementing smart contracts to automate the performance of high-value over-the-counter (OTC) financial derivatives is a formidable challenge. Due to the regulatory framework and the scale of financial risk if a contract were to go wrong, …
View article: Design discussion on the ISDA Common Domain Model
Design discussion on the ISDA Common Domain Model Open
A new initiative from the International Swaps and Derivatives Association (ISDA) aims to establish a "Common Domain Model" (ISDA CDM): a new standard for data and process representation across the full range of derivatives instruments. Des…
View article: Smart Contract Templates: essential requirements and design options
Smart Contract Templates: essential requirements and design options Open
Smart Contract Templates support legally-enforceable smart contracts, using operational parameters to connect legal agreements to standardised code. In this paper, we explore the design landscape of potential formats for storage and transm…
View article: Smart Contract Templates: foundations, design landscape and research directions
Smart Contract Templates: foundations, design landscape and research directions Open
In this position paper, we consider some foundational topics regarding smart contracts (such as terminology, automation, enforceability, and semantics) and define a smart contract as an automatable and enforceable agreement. We explore a s…