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All organisation deals · oversight SIMULATED
DEALS BY STATE
1
Draft
2
Open
3
Negotiate
0
Committed
1
Locked
4
Executed
CYCLE TIME · TARGET
Originate
2d
Assemble
9d
Design
4d
Execute
3d
VALUE TRANSACTED MOCK
$312M
Payment legs · from ledger events
Active deals
Primary Market Issuance · SOFR Bond IVORY-4471
Blueprint: Tokenized primary issuance · SOFR-linked bond
Intraday Repo · Equity ETF collateral SLATE-2000
Blueprint: Tokenized repo · equity ETF as collateral
Needs your attention
behind target closeCross-Border RepoAssemble · 18d9d past target→
Token Issuance · Series BDesign · 11d7d past target→
Inbound offers
Repo
Finance securities against cash — sold now, bought back later.
Required
Optional
V
P
C
R
Drag a seat down · click to fill · drag placed seats to reorder
Seats stay empty until you fill them
Fill seat
pick a participant
×
Deal roomSLATE-2000×
ActivityChatFiles
Org Admin created the deal room and set the Repo blueprint.
just now
Org Admin moved the deal into Open.
2m ago
Issuer - Main verified. Party id bound to the room.
4m ago
Files
×GMRA terms · draft
PDF · 2 days ago
Eligibility schedule
XLSX · 1 day ago
Ashvale term sheet
PDF · 6h ago
MARKETPLACE
Marketplace
GETTING STARTED
How Flowryd works
Flowryd is the orchestration layer for a multiparty deal room — the building blocks for transaction flows. Think of a kitchen redesign: you plan the layout and choose the units before anything is installed — what's needed, in what order, and what can wait. A deal works the same way. Here's the shared language for the pieces you build one from.
The building blocks
Blueprint
A reusable layout for a deal — the ordered steps, the role at each step, and the standards — with no firm names attached. You can take the layout without taking the parties.KitchenThe layout: where the sink goes, and the order it gets installed in.
Flow
A blueprint put to work: an ordered sequence of steps a deal moves through.KitchenThe job, from first fix to final sign-off.
Step
One point in a flow where something has to happen before the deal can move on.KitchenOne stage of the fit-out.
Seat
An open slot in a deal, labelled by the role it needs. It stays open until a party whose role matches takes it.KitchenA slot in the layout — fridge, oven, sink.
Role
What a seat requires a party to do — Custodian, Registry, Liquidity, and so on. One party can hold more than one role.KitchenThe trade: plumber, electrician, tiler.
Function
A capability a flow needs at a point in it — Oracle / Pricing, Compliance Check, FX.KitchenWhat has to happen there: plumbing, gas, ventilation.
App stack
A combination of parties that perform a set of functions — taken as one prefab component, instead of assembling and sequencing each yourself.KitchenA prefab unit — the sink arrives with the plumbing, waste and tap already in it.
Deal canvas
The working view where you arrange seats, stacks and steps before a deal goes live.KitchenThe floor plan on the table — where you move things around.
Deal room
The live deal: your chosen layout, your parties and your terms, moving through the lifecycle below.KitchenThe install — your layout, your suppliers, your terms.
How they nest
Function— a capability →App stack— parties that perform functions →Flow— steps where stacks fire.
Deal lifecycle · who acts
Draft
Flowryd
Assembling the deal — seats, terms and parties are still being set.
Open
Flowryd
Seats are published; any qualified party can take one.
Negotiate
Flowryd
Parties agree the terms and the fee split; Flowryd orchestrates the agreement.
Committed
Flowryd
Every seat is filled and the terms are agreed. Flowryd commits the deal as green to go — orchestration streamlined, ready to execute. Flowryd's role ends here.
Locked
By the parties
Each regulated party commits its own leg on its own rail, through its own application.
Executed
By the parties
The transaction is executed by the parties themselves, through their own apps — for example on Canton. Flowryd never settles and never moves assets or cash.
Where Flowryd sits. Flowryd agrees parties and terms, and commits the deal once every seat is filled and the terms are agreed — the orchestration is streamlined and green to go. It never settles the transaction: settlement is executed only by the regulated parties, through their own applications and rails. Flowryd does not custody assets, does not move cash, does not transact on behalf of any party, does not decide liquidity and does not configure transfer agents. The orchestration fee fires at signature and is split among the participants — Flowryd holds none of it.
GETTING STARTED
Markets Decoded
The words the market already uses, in plain English. Nothing here is Flowryd-specific — it is the vocabulary a deal assumes you have. If a term on a blueprint or in a deal room is unfamiliar, it is explained here.
The instruments
Repo
A sale of securities with an agreement to buy them back later at a set price. It is financing, not a trade — cash now, securities as security.KitchenThe loan against the house, not the sale of it.
Primary issuance
The first sale of a new instrument, from the issuer to investors.
Secondary market
Trading of an instrument after issuance, between investors rather than with the issuer.
SOFR
Secured Overnight Financing Rate — the benchmark US rate that replaced USD LIBOR. A SOFR-linked bond pays interest referenced to it.
ETF
Exchange-traded fund: a fund whose units trade like a share. Liquid and priced continuously, which is why it makes usable collateral.
Securing the exposure
Collateral
Assets pledged to secure an obligation, so the party taking the risk has something to fall back on.
Haircut
The discount applied to collateral’s market value, so the lender stays covered if the value falls.KitchenYou budget above the quote, because the quote will move.
Margin call
A demand for more collateral once what is pledged falls below what is required. It repeats through the life of the deal.
Evaluated pricing
A price for an instrument that does not trade often, derived from models and comparable trades rather than a live quote.
Settling it
DvP
Delivery versus payment: the securities move only if the cash moves, and the cash only if the securities do.
PvP
Payment versus payment: two cash legs settle together, used where currencies are exchanged.
Atomic settlement
Both legs succeed or neither does, in one indivisible step. There is no window in which one party has delivered and the other has not.KitchenBoth taps fitted before the water goes on.
Finality
The point after which a settled transfer cannot be reversed. Different rails reach it at different speeds.
T+1 / T+0
How long after the trade date settlement happens. T+0 is same day; atomic settlement collapses the gap entirely.
Who does what
Issuer
The entity that creates and sells the instrument, and owes on it.
Placement agent
Finds the investors and places the issue with them.
Custodian
Holds assets safe on someone else’s behalf. Non-custodial of risk — it takes no principal position.
Transfer agent
Maintains the official record of who owns what, acting for the issuer.
Registry
The definitive record of ownership. If the registry does not say you own it, you do not.
CSD
Central securities depository: the institution where securities are held and settled centrally.
Trustee
Acts for the holders of an instrument, enforcing its terms against the issuer.
Collateral agent
Values, holds and releases collateral on behalf of the parties.
Market maker
Quotes both a buy and a sell price, so there is someone to trade with.
Clearing broker
Steps between counterparties to manage settlement and credit exposure.
Onchain
Tokenisation
Representing an asset as a transferable record on a shared ledger.
Onchain / offchain
Whether a record or a payment lives on the shared ledger, or inside one firm’s own systems.
Tokenised cash
Money represented on a ledger — a stablecoin or a bank deposit token — so it can settle against a tokenised asset in the same step.
Reference data
The static facts about an instrument: identifiers, terms, dates. Everyone needs the same version of them.
Oracle
A service that brings an external price or fact onto a ledger so a contract can act on it.
Party ID
The identifier that names an organisation on the network. Permanent and case-sensitive — two IDs differing only by case are two different parties.
Onchain market formation. None of these definitions change when a market moves onto a shared ledger — the obligations are the same. What changes is that the record every party reads is the same record, and the legs can settle in one step instead of two.
DEMO
Viewing as
Org adminMember with oversight
State
PopulatedEmptyLoadingError
Members
What each role can do
Party identifiers
A party identifier belongs to the organisation, not a person. Once it has been used in a deal it is permanent and case-sensitive — no rename, move or delete. Verification is set by the platform, never here.
Connected parties — network participants who I am connected to via multiparty deals
My Blueprints — workflow patterns I have created for closed deal rooms and or contributed to the public marketplace
Invite a member×
Signing authority
Off by default — signing is granted, never assumed.
What each role can do×
| Role | Organisation | Deals |
|---|---|---|
| Admin | Manage members and party identifiers | Deals they are in |
| Member | — | Deals they are in |
Two independent flags — set per person, on either role:
| Flag | Grants |
|---|---|
| Oversight | Sees all organisation deals — read and comment. Cannot advance state. |
| Signing | Can accept a seat and move a deal to Locked. |
Admin does not get oversight by default. Managing the organisation is not seeing the book — oversight is granted separately.
Signing binds the firm. It is granted per person, independent of role, and nobody can grant it to themselves.
Add a party identifier×
Case-sensitive. Stored exactly as typed — never normalised.
This is the last moment to catch a typo. Saved exactly as shown — it cannot be changed after saving.
Party identifiers are permanent and case-sensitive. Identifiers differing only by case are different parties.
Confirm×
Create a deal×
From scratch
Blank canvas — add roles and steps yourself.
From a blueprint
Start from a proven, ready-to-run flow.
Pick a blueprint