Banks never replace their technology. They build on top of it.

Every break you investigate, every affirmation you chase, every regulatory field you map twice comes back to one thing. There is no shared, machine-readable description of what happened. The industry built a whole operational discipline around not having one.

The Common Domain Model fixes that — but only for firms that treat it as a commercial programme, not a data project. It needs a consortium, a sequence, and a business case that survives a CFO.

We know this one from the inside. We proposed extending the derivatives CDM into securities lending and repo, and took it to ISLA and ICMA. Both adopted it. The CDM is now open-source at FINOS and underpins regulatory reporting.

• CDM adoption strategy and business case
• Consortium design and mobilisation, from problem definition to funded delivery
• Regulatory reporting rationalisation across overlapping regimes
• Vendor selection, commercial structuring and negotiation
• T+1 readiness ahead of October 2027

Tokenised funds trade at scale. Collateral mobility is a board topic. Settlement in tokenised cash is being planned, not debated.

What has not kept up is commercial capability. Most firms here have good product and a sales approach that cannot navigate a bank, where the buyer is not one person but a group across trading, treasury, risk, operations, legal and technology — each with a separate reason to say no.

We have sat on both sides. At a regulated issuer we ran growth for a tokenised gold token, designed institutional use cases for collateral and structured products, and led AUD stablecoin work with two Australian majors.

• Institutional go-to-market for tokenisation and digital asset infrastructure
• Product and proposition design — tokenised commodities, funds, collateral, structured products
• Adoption models for banks, treasuries, payment firms, exchanges and clearing houses
• UK market entry against the FCA authorisation timetable
• Partnership design across custody, issuance and distribution

FCA gateway opened 30 Sept 2026 · saving provision closes 28 Feb 2027

XVA, margin and capital analytics across a full portfolio are among the heaviest calculations in finance. On conventional grids they need large compute estates, run overnight, and answer too late to change a trade. Meanwhile the quant team spends its time on plumbing instead of models.

We work with technology partners on commercial strategy and market positioning for leading-edge pricing and risk solutions — frameworks that vectorise calculations for parallel hardware such as GPUs, and that have been used for entity-level XVA and margining, model risk, reverse stress testing and wrong-way risk. The technology is theirs. Our job is taking it to market, and helping institutions judge whether the case stacks up.

• Commercial strategy and positioning for risk and pricing analytics
• Buyer mapping across quant, risk, treasury and technology
• Business case — compute, energy, capital efficiency, quant productivity
• Partner and ISV channel development

The same problem repeats across illiquid asset classes. The asset produces genuine value. There is real appetite for exposure to it. Between the two sits no instrument, no price discovery and no route to the investor.

We design the product, the commercial model and the path to market. Work to date covers four asset classes.

• Natural capital. A tokenisation and commercialisation model for conservation and ESG assets, developed with wilderness landowners in the United States. Set out in our paper Put a Penguin in Your Pension.
• Commercial property. Tokenisation of asset manager property holdings, and distribution strategy for fractional exposure.
• Collectibles. Fractional ownership of classic cars, including a review of the wallet, Layer 1 and Layer 2 landscape to pick the right adoption model.
• Commodities. Tokenisation of in-ground assets, and how a token carries through the refining process.

Paper available on request

A new relationship at a tier-one bank is a two-year problem for most vendors. The buying group spans functions that do not report to each other, procurement runs to its own calendar, and the incumbent has an eighteen-month head start on every objection.

We work as a part-time commercial function: set the market entry thesis, build the buyer map, shape the pitch, and open the first conversations in person. Engagements are scoped, time-boxed and priced on deliverables.

• Market entry thesis and segment priority for UK and European institutions
• Fractional commercial leadership — proposition, pitch, pipeline design
• First meetings opened personally at institutional accounts
• RFP and RFI response, commercial structuring, negotiation
• Sales coaching in PISTDC and MANACT