S&P Dow Jones Indices, Kaiko complete first on-chain OTC swap tied to tokenized iBoxx credit index

(AWP Alliance News) - S&P Global's S&P Dow Jones Indices partnered with Kaiko and Derivnex to complete what it called the first on-chain OTC swap on the Canton Network, referencing a tokenized iBoxx USD Liquid Investment Grade Index. The total return swap was executed on Derivnex between DRW and Marex.

Kaiko tokenized the index on Canton, embedding access permissions and usage rules to preserve S&P DJI licensing controls. The trade was represented as a smart contract on Canton to give counterparties a synchronized record for valuation and lifecycle events.

Derivnex said future work is expected to link these positions with digital cash and collateral on Canton for margin and payments.

https://www.prnewswire.com/news-releases/sp-dow-jones-indices-and-kaiko…

Disclaimer: This news brief was created using generative artificial intelligence. S&P Global Inc. published the original content used to generate this news brief via PR Newswire on October 13, 2026, and is solely responsible for the information contained therein.