@bherd-rb In order for the settlement service to do anything non-trivial it will either need to be able to communicate with the issuers of the AskOrder and BidOrder instances contained in each Fill instance directly (in order to request funds and tradables as part of the settlement process) or the settlement service and all of the trading actors need to have access to something like a distributed ledger which stores all of the transactions and associated information (such as market prices, etc).
It might be interesting to contrast bilateral settlement, with central-counterparty (CCP) settlement (which uses a centralized ledger), with distributed ledger settlement options such as Blockchain.
@bherd-rb In order for the settlement service to do anything non-trivial it will either need to be able to communicate with the issuers of the
AskOrderandBidOrderinstances contained in eachFillinstance directly (in order to request funds and tradables as part of the settlement process) or the settlement service and all of the trading actors need to have access to something like a distributed ledger which stores all of the transactions and associated information (such as market prices, etc).It might be interesting to contrast bilateral settlement, with central-counterparty (CCP) settlement (which uses a centralized ledger), with distributed ledger settlement options such as Blockchain.