Tokenovate, a UK-based Fintech offering post-trade solutions, has announced a new service called Novat, which is described as providing programmable settlements for tokenized assets.
As all asset classes, including securities, become digital or tokenized, there are opportunities for innovators to provide modern services to capital markets. Tokenivate says the current settlement process is “fragmented and slow,” with liquidity traps. Their solution improves the ecosystem in a secure, streamlined offering for global capital markets.
The company adds that the transition to T+1 makes services like theirs more imperative.
At some point, settlements will be immediate, yet few firms are ready for this.
The Novat Protocol is powered by the FINOS Common Domain Model (CDM), a shared data standard for representing financial products and events.
Richard Baker, CEO of Tokenovate, the T+1 in 2027 is not the finish line.
“Markets can’t afford to wait two years, or two days, for liquidity to move. The Novat delivers what comes next: instant, atomic, and legally final settlement that releases liquidity the moment a trade completes and slashes operational risk. Crucially, it works within the system. It’s fully compatible with today’s custodial and regulatory frameworks. As markets get even faster, only solutions that combine legal certainty, settlement finality, and liquidity optimisation will define the next era of efficiency and trust in global finance.”
Tokenovate Chief Legal & Product Officer, Ciarán McGonagle, notes the process requires a shared legal and data standard.