For the test, Markit generated smart contracts from credit default
swap trade confirmations, including the economic terms of the deal and permissions management into a blockchain - based system.
The most important, recent development in the property derivative marketplace is the recent publishing by the International
Swaps and Derivatives Association, Inc (ISDA) of definitions specifically for property derivative transactions; these definitions allow practitioners to describe
trades in shorthand within
Trade Confirmations, further streamlining the documentation and lessening transaction costs related to this derivative.