DRW and Marex complete first OTC derivative referencing a tokenized index

The total return swap on the Canton Network referenced a tokenized version of the iBoxx USD Liquid Investment Grade Index Trading firm DRW and financial services group Marex have completed what they describe as the first over-the-counter derivative referencing a fully tokenized index on blockchain infrastructure. The trade was a total return swap, executed on October 13, 2026, on the Canton Network. Marex provided the swap, and DRW acted as the counterparty. The arrangement gave exposure to the index’s performance without either side needing to own the underlying bonds.

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