Ecosystem Stakeholders

Key stakeholders of the Denote ecosystem

Central Securities Depositories (CSD)

Responsible for tokenizing tradfi assets (equities, bonds) that serve as underlying assets for Denote ETFs. CSDs serve as the direct bridge between TradFi and Canton network. CSDs enable settlement between member institutions on Canton network.

Custodian Banks

CSD member institutions may serve as tokenizers themselves as well. Other CSD non-member institutions may use the custodian to bridge TradFi assets to Canton network.

Asset Managers

Asset managers can serve as Denote ETF issuers, participate in issuance/redemption workflows as APs, and incorporate Denote ETFs in their own portfolio management strategy

Buy-side Firms

Buy-side firms (hedge funds, market makers) can participate in issuance/redemption workflows as APs, and incorporate Denote ETFs in their own portfolio management strategy

Reference Index Providers

For passive ETFs

Trading Venues

Centralized / Decentralized