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March 8, 2018

Public Margin Call Messaging API – VC funding call

A new invention to make making margin calls easier. Just invented today

Here's a new invention, maybe a bit tongue in cheek but not a bad one.

  • Almost all firms need to make and receive margin calls
  • Everyone needs to make sure these are done efficiently and trackable
  • Lets invent a public data format for margin calls and responses
  • Lets invent a message choreography where the calls and responses follow an understood pattern
  • Lets then invent an API for each firm to activate over the internet
  • And also invent a simple directory to which the API address is found
  • Every vendor who wants to issue a margin call can then adopt the public protocol
  • Every firm handling margin calls then codes to that API, and maps internally to their in-house or vendor systems
  • Put a single firm (such as ISDA) in charge of maintaining the message formats and chorography. (Or OTC Space can do it, with help)

From then on, calls and receipts follow a common pattern using a a free common public API. If anyone wants to send me some VC funding we could have this ready this year. Doesn't FpML have something like this already?

 


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