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Mike Hearn
163
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vendored
163
docs/build/html/running-the-demos.html
vendored
@ -31,8 +31,8 @@
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<link rel="top" title="R3 Corda latest documentation" href="index.html"/>
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<link rel="next" title="Data model" href="data-model.html"/>
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<link rel="prev" title="Getting set up" href="getting-set-up.html"/>
|
||||
<link rel="next" title="CLI vs IDE" href="CLI-vs-IDE.html"/>
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||||
<link rel="prev" title="Getting Set Up : Faultfinding" href="getting-set-up-fault-finding.html"/>
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||||
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||||
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<script src="_static/js/modernizr.min.js"></script>
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@ -89,21 +89,39 @@
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||||
<ul class="current">
|
||||
<li class="toctree-l1"><a class="reference internal" href="inthebox.html">What’s included?</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="getting-set-up.html">Getting set up</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="getting-set-up-fault-finding.html">Getting Set Up : Faultfinding</a></li>
|
||||
<li class="toctree-l1 current"><a class="current reference internal" href="#">Running the demos</a><ul>
|
||||
<li class="toctree-l2"><a class="reference internal" href="#important-common-instructions-for-all-demos">Important : Common Instructions for all demos</a></li>
|
||||
<li class="toctree-l2"><a class="reference internal" href="#trader-demo">Trader demo</a></li>
|
||||
<li class="toctree-l2"><a class="reference internal" href="#irs-demo">IRS demo</a></li>
|
||||
<li class="toctree-l2"><a class="reference internal" href="#attachment-demo">Attachment demo</a></li>
|
||||
<li class="toctree-l2"><a class="reference internal" href="#simm-and-portfolio-demo">SIMM and Portfolio demo</a></li>
|
||||
<li class="toctree-l2"><a class="reference internal" href="#distributed-notary-demo">Distributed Notary demo</a></li>
|
||||
<li class="toctree-l2"><a class="reference internal" href="#simm-and-portfolio-demo-aka-the-initial-margin-agreement-demo">SIMM and Portfolio Demo - aka the Initial Margin Agreement Demo</a><ul>
|
||||
<li class="toctree-l3"><a class="reference internal" href="#background-and-simm-introduction">Background and SIMM Introduction</a></li>
|
||||
<li class="toctree-l3"><a class="reference internal" href="#what-happens-in-the-demo-notionally">What happens in the demo (notionally)</a></li>
|
||||
<li class="toctree-l3"><a class="reference internal" href="#demo-execution-step-by-step">Demo execution (step by step)</a></li>
|
||||
</ul>
|
||||
</li>
|
||||
</ul>
|
||||
</li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="CLI-vs-IDE.html">CLI vs IDE</a></li>
|
||||
</ul>
|
||||
<p class="caption"><span class="caption-text">Key concepts</span></p>
|
||||
<ul>
|
||||
<li class="toctree-l1"><a class="reference internal" href="data-model.html">Data model</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="transaction-data-types.html">Data types</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="merkle-trees.html">Transaction tear-offs</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="consensus.html">Consensus model</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="clauses.html">Clauses key concepts</a></li>
|
||||
</ul>
|
||||
<p class="caption"><span class="caption-text">CorDapps</span></p>
|
||||
<ul>
|
||||
<li class="toctree-l1"><a class="reference internal" href="creating-a-cordapp.html">CorDapps Background</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="creating-a-cordapp.html#gradle-plugins-for-cordapps">Gradle plugins for CorDapps</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-cordapp.html">The CorDapp Template</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-cordapp.html#building-the-cordapp-template">Building the CorDapp template</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-cordapp.html#running-the-sample-cordapp">Running the Sample CorDapp</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-cordapp.html#using-the-sample-cordapp">Using the sample CorDapp</a></li>
|
||||
</ul>
|
||||
<p class="caption"><span class="caption-text">The Corda node</span></p>
|
||||
<ul>
|
||||
@ -117,23 +135,21 @@
|
||||
<li class="toctree-l1"><a class="reference internal" href="node-explorer.html">Node Explorer</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="permissioning.html">Network permissioning</a></li>
|
||||
</ul>
|
||||
<p class="caption"><span class="caption-text">CorDapps</span></p>
|
||||
<ul>
|
||||
<li class="toctree-l1"><a class="reference internal" href="creating-a-cordapp.html">Creating a CorDapp</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="creating-a-cordapp.html#gradle-plugins-for-cordapps">Gradle plugins for CorDapps</a></li>
|
||||
</ul>
|
||||
<p class="caption"><span class="caption-text">Tutorials</span></p>
|
||||
<ul>
|
||||
<li class="toctree-l1"><a class="reference internal" href="where-to-start.html">Where to start</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-contract.html">Writing a contract</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-contract-clauses.html">Writing a contract using clauses</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-test-dsl.html">Writing a contract test</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-integration-testing.html">Integration Test Tutorial</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-clientrpc-api.html">Client RPC API tutorial</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-building-transactions.html">Building Transactions</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="flow-state-machines.html">Writing flows</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="flow-testing.html">Writing flow tests</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="running-a-notary.html">Running a notary service</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="using-a-notary.html">Using a notary service</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="oracles.html">Writing oracle services</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="oracles.html#implementing-an-oracle-with-continuously-varying-data">Implementing an oracle with continuously varying data</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="oracles.html#using-an-oracle">Using an oracle</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="tutorial-attachments.html">Using attachments</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="event-scheduling.html">Event scheduling</a></li>
|
||||
</ul>
|
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@ -150,6 +166,8 @@
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||||
<p class="caption"><span class="caption-text">Appendix</span></p>
|
||||
<ul>
|
||||
<li class="toctree-l1"><a class="reference internal" href="loadtesting.html">Load testing</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="setting-up-a-corda-network.html">Introduction - What is a corda network?</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="setting-up-a-corda-network.html#setting-up-your-own-network">Setting up your own network</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="secure-coding-guidelines.html">Secure coding guidelines</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="release-process.html">Release process</a></li>
|
||||
<li class="toctree-l1"><a class="reference internal" href="release-process.html#steps-to-cut-a-release">Steps to cut a release</a></li>
|
||||
@ -223,13 +241,17 @@ using the Standard Initial Margin Model.</li>
|
||||
<p class="first admonition-title">Note</p>
|
||||
<p class="last">If any demos don’t work please jump on our mailing list and let us know.</p>
|
||||
</div>
|
||||
<div class="section" id="important-common-instructions-for-all-demos">
|
||||
<h2>Important : Common Instructions for all demos<a class="headerlink" href="#important-common-instructions-for-all-demos" title="Permalink to this headline">¶</a></h2>
|
||||
<p>The demos can be run either from the command line, or from inside IntelliJ. Running from the command line is
|
||||
recommended if you are just wanting to see them run, using IntelliJ can be helpful if you want to debug or
|
||||
develop the demos themselves.</p>
|
||||
develop the demos themselves. For more details about running via the command line or within IntelliJ - see <a class="reference internal" href="CLI-vs-IDE.html"><span class="doc">CLI vs IDE</span></a>.</p>
|
||||
<p><em>For all demos:</em> The <code class="docutils literal"><span class="pre">install</span></code> gradle task is automatically ran if required; this no longer needs to be run independently.</p>
|
||||
</div>
|
||||
<div class="section" id="trader-demo">
|
||||
<h2>Trader demo<a class="headerlink" href="#trader-demo" title="Permalink to this headline">¶</a></h2>
|
||||
<p>This demo brings up three nodes: Bank A, Bank B and a notary/network map node that they both use. Bank A will
|
||||
be the buyer, and self-issues some cash in order to acquire the commercial paper from Bank B, the seller.</p>
|
||||
be the buyer, and self-issues some cash in order to acquire commercial paper from Bank B, the seller.</p>
|
||||
<p>To run from the command line:</p>
|
||||
<ol class="arabic simple">
|
||||
<li>Run <code class="docutils literal"><span class="pre">./gradlew</span> <span class="pre">samples:trader-demo:deployNodes</span></code> to create a set of configs and installs under <code class="docutils literal"><span class="pre">samples/trader-demo/build/nodes</span></code></li>
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||||
@ -256,7 +278,7 @@ oracle together. The two banks agree on an interest rate swap, and then do regul
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||||
on a simulated clock passes.</p>
|
||||
<p>To run from the command line:</p>
|
||||
<ol class="arabic simple">
|
||||
<li>Run <code class="docutils literal"><span class="pre">./gradlew</span> <span class="pre">samples:irs-demo:deployNodes</span> <span class="pre">samples:irs-demo:installDist</span></code> to install configs and a command line tool under <code class="docutils literal"><span class="pre">samples/irs-demo/build</span></code>.</li>
|
||||
<li>Run <code class="docutils literal"><span class="pre">./gradlew</span> <span class="pre">samples:irs-demo:deployNodes</span></code> to install configs and a command line tool under <code class="docutils literal"><span class="pre">samples/irs-demo/build</span></code>.</li>
|
||||
<li>Change to the <code class="docutils literal"><span class="pre">samples/irs-demo/build</span></code> directory.</li>
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||||
<li>Run <code class="docutils literal"><span class="pre">./nodes/runnodes</span></code> (or <code class="docutils literal"><span class="pre">runnodes.bat</span></code> on Windows) to open up three new terminals with the three nodes.</li>
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||||
<li>Run <code class="docutils literal"><span class="pre">./install/irs-demo/bin/irs-demo</span> <span class="pre">--role</span> <span class="pre">UploadRates</span></code> (or use <code class="docutils literal"><span class="pre">irs-demo.bat</span></code> on Windows). You should see a
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||||
@ -303,20 +325,6 @@ Now look at the other windows to see the output of the demo.</li>
|
||||
<p>In the “Attachment Demo: Run Nodes” window you should see some log lines scroll past, and within a few seconds the
|
||||
message “File received - we’re happy!” should be printed.</p>
|
||||
</div>
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||||
<div class="section" id="simm-and-portfolio-demo">
|
||||
<h2>SIMM and Portfolio demo<a class="headerlink" href="#simm-and-portfolio-demo" title="Permalink to this headline">¶</a></h2>
|
||||
<div class="admonition note">
|
||||
<p class="first admonition-title">Note</p>
|
||||
<p class="last">Read more about this demo at <a class="reference internal" href="initial-margin-agreement.html"><span class="doc">Initial margin agreements</span></a>.</p>
|
||||
</div>
|
||||
<p>To run the demo run:</p>
|
||||
<ol class="arabic simple">
|
||||
<li>Open the Corda project in IntelliJ and run the “Install” configuration</li>
|
||||
<li>Open the Corda samples project in IntelliJ and run the “Simm Valuation Demo” configuration</li>
|
||||
</ol>
|
||||
<p>Now open <a class="reference external" href="http://localhost:10005/web/simmvaluationdemo">http://localhost:10005/web/simmvaluationdemo</a> and <a class="reference external" href="http://localhost:10007/web/simmvaluationdemo">http://localhost:10007/web/simmvaluationdemo</a> to view the two nodes that this
|
||||
will have started respectively. You can now use the demo by creating trades and agreeing the valuations.</p>
|
||||
</div>
|
||||
<div class="section" id="distributed-notary-demo">
|
||||
<span id="notary-demo"></span><h2>Distributed Notary demo<a class="headerlink" href="#distributed-notary-demo" title="Permalink to this headline">¶</a></h2>
|
||||
<p>This is a simple demonstration showing a party getting transactions notarised by a distributed <a class="reference external" href="https://raft.github.io/">Raft</a>-based notary service.
|
||||
@ -359,6 +367,103 @@ but we’re only interested in the row count for this demo.</p>
|
||||
</li>
|
||||
</ul>
|
||||
</div>
|
||||
<div class="section" id="simm-and-portfolio-demo-aka-the-initial-margin-agreement-demo">
|
||||
<h2>SIMM and Portfolio Demo - aka the Initial Margin Agreement Demo<a class="headerlink" href="#simm-and-portfolio-demo-aka-the-initial-margin-agreement-demo" title="Permalink to this headline">¶</a></h2>
|
||||
<div class="section" id="background-and-simm-introduction">
|
||||
<h3>Background and SIMM Introduction<a class="headerlink" href="#background-and-simm-introduction" title="Permalink to this headline">¶</a></h3>
|
||||
<p>This app is a demonstration of how Corda can be used for the real world requirement of initial margin calculation and
|
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agreement; featuring the integration of complex and industry proven third party libraries into Corda nodes.</p>
|
||||
<p>SIMM is an acronym for “Standard Initial Margin Model”. It is effectively the calculation of a “margin” that is paid
|
||||
by one party to another when they agree a trade on certain types of transaction. This margin is
|
||||
paid such that, in the event of one of the counterparties suffering a credit event
|
||||
(a financial term and a polite way to say defaulting, not paying the debts that are due, or potentially even bankruptcy),
|
||||
then the party that is owed any sum already has some of the amount that it should have been paid. This payment to the
|
||||
receiving party is a preventative measure in order to reduce the risk of a potentially catastrophic default domino
|
||||
effect that caused the <a class="reference external" href="https://en.wikipedia.org/wiki/Financial_crisis_of_2007%E2%80%932008">Great Financial Crisis</a>,
|
||||
as it means that they can be assured that if they need to pay another party, they will have a proportion of the funds
|
||||
that they have been relying on.</p>
|
||||
<p>To enact this, in September 2016, the ISDA committee - with full backing from various governing bodies -
|
||||
<a class="reference external" href="http://www2.isda.org/news/isda-simm-deployed-today-new-industry-standard-for-calculating-initial-margin-widely-adopted-by-market-participants">issued a ruling on what is known as the ISDA SIMM ™ model</a>,
|
||||
a way of fairly and consistently calculating this margin. Any parties wishing to trade a financial product that is
|
||||
covered under this ruling would, independently, use this model and calculate their margin payment requirement,
|
||||
agree it with their trading counterparty and then pay (or receive, depending on the results of this calculation)
|
||||
this amount. In the case of disagreement that is not resolved in a timely fashion, this payment would increase
|
||||
and so therefore it is in the parties’ interest to reach agreement in as short as time frame as possible.</p>
|
||||
<p>To be more accurate, the SIMM calculation is not performed on just one trade - it is calculated on an aggregate of
|
||||
intermediary values (which in this model are sensitivities to risk factors) from a portfolio of trades; therefore
|
||||
the input to a SIMM is actually this data, not the individual trades themselves.</p>
|
||||
<p>Also note that implementations of the SIMM are actually protected and subject to license restrictions by ISDA
|
||||
(this is due to the model itself being protected). We were fortunate enough to technically partner with
|
||||
<a class="reference external" href="http://www.opengamma.com">OpenGamma</a> who allowed us to demonstrate the SIMM process using their proprietary model.
|
||||
In the source code released, we have replaced their analytics engine with very simple stub functions that allow
|
||||
the process to run without actually calculating correct values, and can easily be swapped out in place for their real libraries.</p>
|
||||
<p>Open the Corda samples project in IntelliJ and run the “Simm Valuation Demo” configuration</p>
|
||||
<p>Now open <a class="reference external" href="http://localhost:10005/web/simmvaluationdemo">http://localhost:10005/web/simmvaluationdemo</a> and <a class="reference external" href="http://localhost:10007/web/simmvaluationdemo">http://localhost:10007/web/simmvaluationdemo</a> to view the two
|
||||
nodes that this will have started respectively. You can now use the demo by creating trades and agreeing the valuations.
|
||||
Also see the README located in samples/simm-valuation-demo.</p>
|
||||
</div>
|
||||
<div class="section" id="what-happens-in-the-demo-notionally">
|
||||
<h3>What happens in the demo (notionally)<a class="headerlink" href="#what-happens-in-the-demo-notionally" title="Permalink to this headline">¶</a></h3>
|
||||
<dl class="docutils">
|
||||
<dt>Preliminaries</dt>
|
||||
<dd><ul class="first last simple">
|
||||
<li>Ensure that there are a number of live trades with another party financial products that are covered under the
|
||||
ISDA SIMM agreement (if none, then use the demo to enter some simple trades as described below).</li>
|
||||
</ul>
|
||||
</dd>
|
||||
<dt>Initial Margin Agreement Process</dt>
|
||||
<dd><ul class="first last simple">
|
||||
<li>Agree that one will be performing the margining calculation against a portfolio of trades with another party, and agree the trades in that portfolio. In practice, one node will start the flow but it does not matter which node does.</li>
|
||||
<li>Individually (at the node level), identify the data (static, reference etc) one will need in order to be able to calculate the metrics on those trades</li>
|
||||
<li>Confirm with the other counterparty the dataset from the above set</li>
|
||||
<li>Calculate any intermediary steps and values needed for the margin calculation (ie sensitivities to risk factors)</li>
|
||||
<li>Agree on the results of these steps</li>
|
||||
<li>Calculate the initial margin</li>
|
||||
<li>Agree on the calculation of the above with the other party</li>
|
||||
<li>In practice, pay (or receive) this margin (omitted for the sake of complexity for this example)</li>
|
||||
</ul>
|
||||
</dd>
|
||||
</dl>
|
||||
</div>
|
||||
<div class="section" id="demo-execution-step-by-step">
|
||||
<h3>Demo execution (step by step)<a class="headerlink" href="#demo-execution-step-by-step" title="Permalink to this headline">¶</a></h3>
|
||||
<p>The demonstration can be run in two ways - via IntelliJ (which will allow you to add breakpoints, debug, etc), or via gradle and the command line.</p>
|
||||
<p>Run with IntelliJ</p>
|
||||
<blockquote>
|
||||
<div><ol class="arabic simple">
|
||||
<li>Open the <code class="docutils literal"><span class="pre">corda</span></code> project with IntelliJ</li>
|
||||
<li>Run the shared run configuration “SIMM Valuation Demo”</li>
|
||||
</ol>
|
||||
</div></blockquote>
|
||||
<p>Run via CLI</p>
|
||||
<blockquote>
|
||||
<div><ol class="arabic">
|
||||
<li><p class="first">Navigate to the <code class="docutils literal"><span class="pre">samples/simm-valuation-demo</span></code> directory in your shell</p>
|
||||
</li>
|
||||
<li><p class="first">Run the gradle target <code class="docutils literal"><span class="pre">deployNodes</span></code> (ie; <code class="docutils literal"><span class="pre">./gradlew</span> <span class="pre">deployNodes</span></code> for Unix or <code class="docutils literal"><span class="pre">gradlew.bat</span></code> on Windows)</p>
|
||||
<blockquote>
|
||||
<div><ol class="loweralpha simple">
|
||||
<li>Unix: <code class="docutils literal"><span class="pre">cd</span> <span class="pre">simm-valuation-demo/build/nodes</span> <span class="pre">&&</span> <span class="pre">./runnodes</span></code></li>
|
||||
<li>Windows: <code class="docutils literal"><span class="pre">cd</span> <span class="pre">simm-valuation-demo/build/nodes</span> <span class="pre">&</span> <span class="pre">runnodes.bat</span></code></li>
|
||||
</ol>
|
||||
</div></blockquote>
|
||||
</li>
|
||||
</ol>
|
||||
</div></blockquote>
|
||||
<dl class="docutils">
|
||||
<dt>Then (for both)</dt>
|
||||
<dd><ol class="first last arabic simple" start="3">
|
||||
<li>Browse to <a class="reference external" href="http://localhost:10005/web/simmvaluationdemo">http://localhost:10005/web/simmvaluationdemo</a></li>
|
||||
<li>Select the other counterparty (ie Bank B)</li>
|
||||
<li>Enter at least 3 trades - via the “Create New Trade” tab.</li>
|
||||
<li>On the “Agree Valuations” tab, click the “Start Calculations” button.</li>
|
||||
</ol>
|
||||
</dd>
|
||||
</dl>
|
||||
<p>Additionally, you can confirm that these trades are not visible from <a class="reference external" href="http://localhost:10009/web/simmvaluationdemo/">Bank C’s node</a>.</p>
|
||||
<p>Please note that any URL text after <cite>simmvaluationdemo</cite> should not be bookmarked or navigated directly to as they are only for aesthetics.</p>
|
||||
</div>
|
||||
</div>
|
||||
</div>
|
||||
|
||||
|
||||
@ -368,10 +473,10 @@ but we’re only interested in the row count for this demo.</p>
|
||||
|
||||
<div class="rst-footer-buttons" role="navigation" aria-label="footer navigation">
|
||||
|
||||
<a href="data-model.html" class="btn btn-neutral float-right" title="Data model" accesskey="n">Next <span class="fa fa-arrow-circle-right"></span></a>
|
||||
<a href="CLI-vs-IDE.html" class="btn btn-neutral float-right" title="CLI vs IDE" accesskey="n">Next <span class="fa fa-arrow-circle-right"></span></a>
|
||||
|
||||
|
||||
<a href="getting-set-up.html" class="btn btn-neutral" title="Getting set up" accesskey="p"><span class="fa fa-arrow-circle-left"></span> Previous</a>
|
||||
<a href="getting-set-up-fault-finding.html" class="btn btn-neutral" title="Getting Set Up : Faultfinding" accesskey="p"><span class="fa fa-arrow-circle-left"></span> Previous</a>
|
||||
|
||||
</div>
|
||||
|
||||
@ -380,7 +485,7 @@ but we’re only interested in the row count for this demo.</p>
|
||||
|
||||
<div role="contentinfo">
|
||||
<p>
|
||||
© Copyright 2016, Distributed Ledger Group, LLC.
|
||||
© Copyright 2016, R3 Limited.
|
||||
|
||||
</p>
|
||||
</div>
|
||||
|
||||
Reference in New Issue
Block a user