System overview
Stocks, execution and settlement across the Edel ecosystem.
The system at a glance
Stocks issuance and Markets execution operate separately. The planned stock-collateral connection is shown with a dashed line.
How responsibilities are divided
The system separates instrument issuance, order execution, settlement and the applications people use. Each layer has a specific role in moving from an asset or trading instruction to a confirmed outcome.
| Layer | Responsibility |
|---|---|
| Issuer and backing | Edel Stocks are issued with economic backing maintained for tokens in circulation. |
| Trading execution | Markets authenticates trading commands and handles matching and risk off-chain. |
| Settlement | Canton confirms the completion of settlement operations. |
| Applications | Wallets, trading interfaces and integrations provide access through supported product interfaces. |
Why off-chain execution matters
Markets uses a hybrid execution model. Matching, risk checks and order commitment happen off-chain. The resulting obligations are netted and settled on Canton afterward, so order acknowledgements do not wait for blockchain settlement confirmation.
Our off-chain execution design targets approximately 140,000 orders per second. This is an engineering target, not a verified production throughput figure. See performance and measurement for how we distinguish order throughput from settlement throughput.
Edel on Canton
We operate a Canton validator and build applications on the network. Edel is a Featured App in the Canton ecosystem. Our validator supports network participation, and our applications use Canton for native assets and settlement. Explore our Canton integration and the product status overview.