Meta Requirement

MR-2 - Reduce stakeholder complexity

Numerous intermediaries, such as banks, custodians, or clearing houses, are involved in a securities transaction, which causes significant complexity. The artifact shall reduce this source of complexity.

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design-knowledge/bond-markets-tokenization-tac-mr2

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Producer label: MR-2
Source paper: Designing the future of bond markets: Reducing transaction costs through tokenization
Timestamp: 2026-08-05T00:00:00+00:00
Bundle path: design-knowledge/bond-markets-tokenization-tac-mr2.md

bond-markets-tokenization-tacfinance-bondsmeta-requirementsecuritiestokenizationtransaction-costs

Meta-requirement MR-2: Reduce stakeholder complexity

Source paper

This meta-requirement is proposed by Designing the future of bond markets: Reducing transaction costs through tokenization (David Cisar, Benjamin Schellinger, Jens-Christian Stoetzer, Vincent Gramlich, Tobias Guggenberger, Nils Urbach, Florian Lennart Weiss, 2025).

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1 Design Objective

design-knowledge/bond-markets-tokenization-tac-do2

DO-2 - Reduce complexity (standardized interfaces and consolidated roles as well as responsibilities)

Since the conventional securities landscape is quite complex, the number of separated entities and manual processes leading to extensive TAC should be reduced to a minimum, with the issuance process as standardized as possible.

bond-markets-tokenization-tacdesign-objectivefinance-bondssecurities+2

1 Paper

papers/bond-markets-tokenization-tac

Designing the future of bond markets: Reducing transaction costs through tokenization

Using a transaction-cost-theory lens, the paper identifies seven meta-requirements and derives five design objectives for an Ethereum-based bond prototype, from which it formulates five design principles for blockchain-based bond markets: apply modular design, exploit multi-token standards, automate on-chain payouts, restrict forced-transfer functions to regulators, and implement smart-contract-based crypto securities registers.

blockchainbond-markets-tokenization-tacdesign-science-researchfinance-bonds+3

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Designing the future of bond markets: Reducing transaction costs through tokenization
Paper
Source
MR-2 - Reduce stakeholder complexity
Target
Designing the future of bond markets: Reducing transaction costs through tokenization
Link label
Designing the future of bond markets: Reducing transaction costs through tokenization
Status
Resolved
Derived heading context: Source paper

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3 of 3 concepts · 5 directed relationships

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{
  "type": "meta-requirement",
  "title": "MR-2 - Reduce stakeholder complexity",
  "description": "Numerous intermediaries, such as banks, custodians, or clearing houses, are involved in a securities transaction, which causes significant complexity. The artifact shall reduce this source of complexity.",
  "resource": "https://doi.org/10.1007/s12525-025-00753-3",
  "source_paper": "Designing the future of bond markets: Reducing transaction costs through tokenization",
  "label": "MR-2",
  "tags": [
    "bond-markets-tokenization-tac",
    "meta-requirement",
    "finance-bonds",
    "tokenization",
    "transaction-costs",
    "securities"
  ]
}