Network of Networks vs Public and Private DLT

A trade settles the cash leg, and the securities leg fails an hour later. Which risk has just materialised?

• Replacement cost risk
• Principal risk
• Liquidity risk only

On Canton, a cash contract sits on synchronizer A and a bond on synchronizer B. What has to happen before one transaction can swap them?

• Nothing: Canton runs one transaction across both synchronizers
• Both contracts are reassigned to one synchronizer that both parties use
• The two synchronizers merge for the length of the trade