WORLD CENTRAL BANK WORLD CREDITOR ASSOCIATION
The Decentralized Open World Market
Hosted by CounterClear
Welcome to the World Index hosted by CounterClear. The Central counterparty clearing (CCP), for Bitcoin Smart Contracts and also referred to as a central counterparty, by the Etherbank Trust group (Intercreditbank) through CounterClear on its Open CounterMarket Exchange (XCPC) which is a financial institution and The World Open Market Intercryptobank that takes on global counterparty credit risk between all global counterparties and tokenized XCP (Smart Contract Obligations) for all transactions worldwide and provides clearing and settlement services for trades in all global exchanges, securities, options, indexes, and derivative smart contracts. A CCP reduces the settlement risks by netting & offsetting transactions between multiple counter-parties, by requiring collateral deposits (also called “margin deposits”), by providing independent valuation of trades and collateral, by monitoring the credit worthiness of the member firms, and in many cases, by providing a guarantee fund that can be used to cover losses that exceed a defaulting member’s collateral on deposit. The advantages of a central counterparty clearing arrangement are greater transparency of the risks, reduced processing costs, and greater certainty in cases of default by a member. The Depository Trust Authority (Central Counterparty Trust) is a central securities depository (CSD) and is a specialist financial organization holding securities such as shares either in certificated or uncertificated and now tokenized (dematerialized) form so that ownership can be easily transferred through a cryptographic book entry rather than the transfer of physical certificates on behalf of the Global village and the World Government. This allows brokers and financial companies of the global village to openly access and hold their mutual and tokenized securities at one location where they can be available for global clearing and settlement. This is usually done electronically, and digitally, making it much faster and easier than was traditionally the case where physical certificates had to be exchanged after a trade had been completed. A Central Security Depository (CSD) can be national or international in nature, and may be for a specific type of security, such as government bonds. Level 1 Security Dealers with CounterClear require a Full Access Token. Level 2 ECFX Tokens for Nibiru Reserve members of the Central Digital Bank and Level 3 Global Security Clearance for all World Financial Authority Certified Brokers must have a Global Trust Token.
How to Trade
The CounterMarket is a decentralized exchange that allows anyone, anywhere in the world to trade tokenized assets on the Bitcoin blockchain. The World Index is a blockchain explorer dedicated to publishing data about how these assets trade, but the site itself is not an exchange. Confused? Join us on Telegram and ask a question. Click here for a listing on the World Index. Open your CounterClear Account today!
Blockchain Technology and CCPs
Blockchain technology, which is described as an incorruptible digital ledger of economic transactions that can be programmed to record financial transactions, arguably represents a new frontier for CCPs. In 2015, clearinghouses from all nations joined forces, to create the Global Exchange System, and the International Group of 27 which studies how alternative currencies and now along with blockchain technology & how they can affect the way in which we end world poverty, security trades are transparent, cleared, settled and securely recorded and protected.
The Etherbank Trust group (Intercreditbank) believes new technology can reduce risk and margin requirements and facilitate greater regulatory oversight—before and after trading. And because this group’s members represent various parts of the securities settlement process, they comprehensively understand how the blockchain technology can aid the settlement, clearing and reporting processes. Counterparty is a financial platform for creating peer-to-peer financial applications on the bitcoin blockchain. The protocol specification and all Counterparty software is open source. The reference client is counterparty and a web wallet called Counterwallet showcases all protocol features. The protocol’s native currency, XCP, is the fuel that powers Counterparty. It is slightly deflationary, with approximately 2.6 million XCP having been created by burning Bitcoins in January 2014. Counterparty provides users with the world’s first functioning decentralized digital currency exchange, as well as the ability to create their own virtual assets, issue dividends, create price feeds, bets and contracts for difference. Counterparty has a native currency called XCP. It was originally issued using a provable method called “proof of burn”. This method involves sending bitcoins to a special address that renders the coins permanently unspendable. By avoiding funding during its launch, Counterparty has ensured that developers and users have equal financial opportunities. During January 2014, 2125.63 bitcoins. XCP is used in the Counterparty protocol to create new assets, make bets, and perform callbacks on callable assets. Counterparty used proof of burn to issue XCP, instead of a more traditional fund-raising technique for smart contract launches, to keep the initial distribution of funds as fair and decentralized as possible, and to avoid potential legal issues. -Supported by
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