Derivnex and Canton Network have executed the first on-chain over-the-counter (OTC) swap transaction, marking the official launch of Derivnex’s derivatives lifecycle management platform for institutional markets. The total return swap was conducted with DRW as the counterparty and Marex as the swap provider, referencing the iBoxx USD Liquid Investment Grade Index, which Kaiko has tokenized on the Canton Network. The OTC transaction was converted into a smart contract on Canton containing all trade terms, enabling continuous lifecycle management. This implementation provides DRW and Marex with a shared, synchronized record for valuation updates and subsequent lifecycle event processing, streamlining institutional derivatives workflows on-chain.