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Orderbook Agents

Introduction​

Silvana Book enables private, automated trading powered by software agents. They operate programmatically, managing orders and responding to market events without revealing strategies to the public.

In Silvana Book, agents are off-chain programs that automate trading and settlement logic through the Silvana API.

Agents do not match orders themselves; instead, they:

  • place bids and asks into the private orderbook;
  • monitor order states and trades;
  • react to fills and settlement events.

Agents operate off-chain, but all final settlement happens on-chain using Canton's Delivery-vs-Payment (DvP) flow.

Key Agents and Execution​

In practice, the Orderbook involves multiple agents, with the following ones playing a primary role in order execution, matching, and settlement.

Trading Agents​

These agents place, cancel, and update bids and offers, and track order state exclusively through streaming system events, without performing matching or counterparty discovery.

Proving Agents​

For each orderbook operation, these agents create zero-knowledge proofs (ZKPs). They make it possible to track each and every operation without exposing the underlying data. It's critical to have a trading history.

Settlement Agents​

Settlement agents execute settlement on Canton via a Delivery-versus-Payment (DvP) workflow. They receive proposals and coordinate proposal intake, DvP creation, counterparty acceptance, allocation, and final settlement on Canton using bidirectional streaming.