Tokenized bond auctions for Hedera
Clearing Bell is a multi-issuer tokenized bond auction platform built for Hedera. Any authorized company can list their bonds, enforce their own KYC rules, and run their own auctions. Eligible wallets place public limit orders in a shared auction window, and matched trades settle at one clearing price.
How Clearing Bell works
What is Clearing Bell?
Clearing Bell is a batch-auction application for tokenized bonds, built for Hedera. It connects a public order book, token eligibility checks, an investor portfolio, and issuer controls.
How is the clearing price found?
Buyers and sellers submit public limit orders during an auction window. When the round closes, the contract matches eligible demand and supply at a single clearing price. Orders may be partially filled or receive no fill.
Who can trade?
A wallet must be approved in the bond’s registered identity registry. Eligibility is checked when an order is submitted and again during settlement. Approval for one bond does not imply access to every bond.
How does settlement work?
Clearing and token transfers execute together in one transaction. Orders do not escrow funds: participants must retain sufficient balances and approvals. If a required transfer fails, the transaction reverts without keeping partial transfers.