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Granularity Ltd

Specialist Consultants in Financial Market Infrastructures

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We bring a passion for fit-for-purpose infrastructure and robust risk management to every client engagement.

About Us

Kathleen Tyson (LinkedIn profile) is a former central banker, financial infrastructure supervisor and serial innovator of trading, clearing and margin solutions, including tri-party repo, global real-time collateralisation, and distributed liquidity management.  She founded Granularity in 1999 to bring the benefits of internet processes, distributed network solutions, real-time transparency, and XML data standards to financial market infrastructures.   The consultancy has prospered since then by delivering practical, innovative and robust solutions for infrastructure delivery, modernisation, supervision and globalisation.  We now can aid clients modernising to integrate Cloud, DLT and AI into the next generation of market infrastructure. 

The core team at Granularity are five specialist consultants, but we can staff  larger projects as needed from a deep network of experienced professionals.

Some of our projects include:

  • DVP on DLT: Linking Cash and Securities for Delivery vs Payment Settlement in Distributed Ledger Arrangements White Paper for RISE Financial Technologies
  • Working group on governing law and jurisdiction over DLT arrangements and assets for the Financial Markets Law Committee
  • Design and marketing support for Quantum Central Bank Solution suite from Intellect Design Arena - winner of the 2015 Central Banker 'Technology Provider of the Year Award'
  • EBRD pan-regional clearing and settlement review (8 countries) and legal framework benchmarking review for Polish covered bonds
  • Development of securities legislation and exchange authorisation regime (including clearing and resolution arrangements) for Dubai Financial Services Authority and Dubai International Financial Centre (now ranked 18th globally among financial centres after just 15 years!)
  • Supporting scoping and specification of SWIFT's Market Infrastructure Extended Services
  • Procurement support for LCH-Clearnet exchange trade derivatives clearing modernisation
  • Legal and operational design of CLS Bank for the founding member banks and IBM