The ComposerX platforms are intended to ease digital assets adoption via streamlined token creation and settlement.
Officials at the Depository Trust & Clearing Corp. (DTCC) say that they are doing their part to accelerate digital asset adoption “throughout the financial ecosystem” with the release of ComposerX, formerly the Securrency product suite, intended to streamline token creation and settlement.
In October 2023, the DTCC acquired the tokenization infrastructure company Securrency Inc., then led by Nadine Chakar, creating a bridge to the “acceptance and adoption of digital assets” in securities operations, officials said at the time. The Securrency offerings included its Capital Markets Platform, Compliance Aware Token Framework, and Digital Asset Composer. The company became a fully-owned subsidiary of DTCC and has operated as part of the DTCC Digital Assets group, which Chakar oversees in the role of global head.
The timing of the ComposerX revamp seems appropriate as the new Trump administration is pushing hard to make crypto- and digital assets a part of the financial landscape. At the same time, the SEC has launched a task force and revoked an accounting rule that inhibited digital custody. The impact on the securities industry and operations could be profound as the Trump team is fast-tracking innovation, new rules, guardrails, and policies for digital and crypto-based assets via executive orders and federal regulators.
ComposerX is an “end-to-end suite for managing digital assets through their full lifecycle – including issuance, distribution, servicing, and reporting,” officials say. ComposerX offers transaction, account, and inventory management capabilities, data management tools, and an open smart contract framework for tokenization “that’s designed to automate complex financial processes and enable asset discoverability with reconcilable, self-describing data.”
The adoption of digital assets “goes beyond asset creation on a blockchain,” according to the DTCC. “Firms also require an on-chain framework for data management that powers business decisions, risk management, and reporting.”
Toward that end, ComposerX has three core platforms – one for lifecycle management and two for investment processes:
- ComposerX Capital Markets Platform (CMP): This platform is for “the entire token lifecycle management process, from investor onboarding, trading and transaction processing, corporate actions, and transfer agency activities,” according to the DTCC. The CMP “emphasizes harmonization, innovation, and openness by being DLT-agnostic, and is available with a range of tokenization protocols. CMP enables flexibility and transparency by allowing integration with ComposerX’s other platforms, as well as with legacy systems;”
- ComposerX Factory: This platform is described as “a tokenization engine with sophisticated data management capabilities” by the DTCC. The new tokenization framework “automates the full data management process with a flexibility that was not previously possible, enhancing leading tokenization protocols like ERC-20, ERC-3643, and others with sophisticated data schema management.” The Factory system helps firms create self-describing smart tokens “that include verifiably accurate data schema that can be relied upon for discoverability and that unlock the reliable automation of business processes;”
- ComposerX LedgerScan: This platform is tasked with “monitoring, reporting, and consolidating token activity across the ecosystem. With LedgerScan, firms can track and manage tokens representing any asset from any source spanning any network, reconciling all activity across systems and integrating with legacy accounting and custodial models,” according to the DTCC. LedgerScan is “a tool to help institutions bridge traditional and digital infrastructure and to provide data transparency in near real-time.”
ComposerX is tapping into the patented technology from the Compliance Aware Token Framework (CATF) behind “all of DTCC Digital Assets’ offerings. CATF enables real-time enforcement of regulatory rules that are validated as transactions are executed. CATF helps clients automate complex multi-jurisdictional regulatory and transactional policies including for token issuance, distribution control and transaction operations, enabling efficient regulated asset tokenization,” according to the DTCC.
“The ComposerX suite builds upon DTCC’s ongoing ambitions to collaborate with our participants to build a digital financial market infrastructure. Throughout 2025, DTCC plans to continue enhancing ComposerX, including adding functionality to Factory that enables composability of financial processes,” DTC officials add.
The DTCC serves as the post-trade market infrastructure for global financial markets via services, systems, software, and more, officials note. The DTCC serves broker/dealers, custodian banks, and asset managers.
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