Symbiont partnered with Vanguard and the Center for Research in Security Prices (CRSP) to demonstrate the capabilities of its Assembly platform for streamlining index data distribution. The project proved that index constituent data created by CRSP could be quickly and easily shared on a blockchain and retrieved by Vanguard. While index price information can be accessed through traditional sources, the deployment focused on constituent level details, weightings, and intraday corporate action information that is more challenging to distribute. The solution was deployed on nodes run by Vanguard and CRSP connected in a truly decentralized network with a single source of truth.


Current Deployment


At scheduled intervals throughout each day, an automated job ran to submit files from the CRSP system to the blockchain network. The post was cryptographically signed by the CRSP node and became immediately visible to other network participants, who were able to obtain identical copies of the index information from their own nodes. Restatements were only added to the network as new versions, thereby preserving a record of the originally transmitted data. File postings contained full constituent information of multiple indices leading to correspondingly large file sizes that could have delayed or disrupted their transmission. Symbiont’s technology allowed such posts to seamlessly transit the network without loss, lag, or corruption. Files could also be retrieved by any node at anytime without requiring separate storage, servers, or further actions from CRSP.


Future Deployment


The project has validated the implementation of Symbiont's Assembly platform with two of the premier participants in the index market. It also represents a leap forward in the use of blockchain technology for strategic financial applications. Symbiont is continuing to push ahead in developing novel use cases for its purpose-built solution to enhance financial workflows.