?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.title=Temporal+aspects+of+smart+contracts+for+financial+derivatives&rft.creator=Clack%2C+CD&rft.creator=Vanca%2C+G&rft.description=Implementing+smart+contracts+to+automate+the+performance+of+high-value+over-the-counter+(OTC)+financial+derivatives+is+a+formidable+challenge.+Due+to+the+regulatory+framework+and+the+scale+of+financial+risk+if+a+contract+were+to+go+wrong%2C+the+performance+of+these+contracts+must+be+enforceable+in+law+and+there+is+an+absolute+requirement+that+the+smart+contract+will+be+faithful+to+the+intentions+of+the+parties+as+expressed+in+the+original+legal+documentation.+Formal+methods+provide+an+attractive+route+for+validation+and+assurance%2C+and+here+we+present+early+results+from+an+investigation+of+the+semantics+of+industry-standard+legal+documentation+for+OTC+derivatives.+We+explain+the+need+for+a+formal+representation+that+combines+temporal%2C+deontic+and+operational+aspects%2C+and+focus+on+the+requirements+for+the+temporal+aspects+as+derived+from+the+legal+text.+The+relevance+of+this+work+extends+beyond+OTC+derivatives+and+is+applicable+to+understanding+the+temporal+semantics+of+a+wide+range+of+legal+documentation.&rft.subject=Smart+contract%2C+Distributed+ledger%2C+Finance%2C+Semantics%2C+Temporal&rft.publisher=Springer&rft.contributor=Margaria%2C+T&rft.contributor=Steffen%2C+B&rft.date=2018&rft.type=Proceedings+paper&rft.language=eng&rft.source=+++++In%3A+Margaria%2C+T+and+Steffen%2C+B%2C+(eds.)+Leveraging+Applications+of+Formal+Methods%2C+Verification+and+Validation.+Industrial+Practice%3A+8th+International+Symposium%2C+ISoLA+2018%2C+Limassol%2C+Cyprus%2C+November+5-9%2C+2018%2C+Proceedings%2C+Part+IV.++(pp.+pp.+339-355).++Springer%3A+Cham%2C+Switzerland.+(2018)+++++&rft.format=image&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F10064092%2F1%2FClack-iSOLA-2018.pdf&rft.identifier=https%3A%2F%2Fdiscovery.ucl.ac.uk%2Fid%2Feprint%2F10064092%2F&rft.rights=open