License
One license, identical for every institution
Published in full, on FRAND terms. Never conditioned on certification, and never discounted, by a partner, an integrator, or the maintainer.
How the license works
Activate, certify, meter
Activate
The institution activates the license directly with dvlstandard.org, whoever assembles the deployment.
Certify
The deployment runs the published test script. On a pass, certification is issued and the deployment is admitted to the register.
Meter
Metered on locked collateral value from the Credit Receipts, invoiced monthly at the published card. A separate line, never bundled.
Rate card
One card for every institution, by collateral class and lane. Basis points per annum on locked collateral value, invoiced to the control location that minted the receipts. How the control location passes it on to its clients and lenders is its own commercial decision.
Select a collateral class
Tokenized equities and securities
Collateralized financing. Other lanes:
Rate Card v1.0. The rate at origination is stamped into the position and never changes for that position; volume tiers only ever arrive as published card versions.
A full month, for one bank
Three positions, 30 days, illustrative. Fee = locked value × rate × days ÷ 365, summed per position from the Credit Receipts, invoiced once for the month.
Positions held in place
Average locked value USD 400,000,000 × 5 bp × 30 days ÷ 365 = USD 16,438, summed per position from the Credit Receipts.
License invoice · 30 days
Nothing moved. Invoiced to the control location; borrowers and lenders are never invoiced by the maintainer.
Paid by the control location
The licensee is the control location. It is invoiced monthly on the receipts its deployment minted, for each day a lock is in place; a lock that touches a day counts as a full day. Borrowers and lenders are never invoiced by the maintainer.
Same rates for everyone
One published rate card for every control location, from a first adopter to a G-SIB. Nobody is discounted and nobody pays more.
The license, not the software
The license pays for use of the technical standard, the credit receipt schema, the legal templates and the opinions per jurisdiction. The software that runs a deployment is priced by Lombard Systems or the integration partner that assembles it, and is not part of the standard.
Never discounted, by a partner, an integrator, or the maintainer. Where a partner bundles the software, the license remains a separate line at the published rate. To activate, contact the maintainer.