Welcome to  Baton’s “Transforming Financial Markets” podcast series. Hosted by Baton’s Founder and CEO, Arjun Jayaram, the podcasts explore innovation in payments and post-trade processing, with each show featuring special guests and thought leaders who are shaping the future of the markets.

In this episode, we are delighted to be joined by industry expert Sunil Cutinho, President CME Clearing, in conversation with Arjun about the role of tokenization and digital currencies in FX markets and the derivatives landscape.

In this podcast we discuss:

  • The benefits of central bank digital currencies for both retail and wholesale payments

  • What types of problem tokenization can introduce into financial markets

  • The governance structure around tokenization and the role of market infrastructures such as CCPs and CSDs in setting well-defined operating rules

  • How tokenization impacts market liquidity, particularly for asset-backed securities

  • Whether the fungibility aspect of currency will lead to currencies and securities going down different routes for tokenization

  • If central bank or CSD-backed account solutions are more appropriate for wholesale settlements than token-based solutions


To find out more about how Baton is transforming Financial Markets visit Baton Systems | Payments accelerated