Settlement & Clearing
Kimber leverages atomic settlement on Plume's Ethereum L2 (Arbitrum fork) to eliminate settlement risk and counterparty exposure. Trades settle in a single block with soft finality in approximately one second, followed by hard finality on Ethereum mainnet in 10-20 minutes.
Atomic Settlement
Every trade on the Plume network settles atomically — the exchange of assets and payment occurs in a single, indivisible transaction. If any component fails, the entire transaction reverts, eliminating partial settlement risk.
- Single-block trade and settlement execution
- Zero counterparty risk through atomic swaps
- No clearing intermediary required
- Instant delivery-versus-payment (DvP)
Finality Model
The Plume L2 sequencer provides soft finality in approximately one second, sufficient for most trading operations. Hard finality is achieved when transaction batches are posted and proven on Ethereum L1, typically within 10-20 minutes.
- ~1 second soft finality (L2 sequencer confirmation)
- 10-20 minute hard finality (Ethereum L1 proof)
- Arbitrum Nitro-based fraud proof system
- Ethereum PoS consensus for ultimate settlement
Rule 15c3-3 Exemption
Kimber claims the Rule 15c3-3(k)(2)(iii) exemption as a non-custodial broker that does not hold customer funds or securities. The self-custody wallet model means customer assets remain in their own wallets at all times.
- Non-custodial model eliminates customer protection rule obligations
- (k)(2)(iii) exemption for brokers not holding customer assets
- No omnibus account or reserve computation required
- Customer assets protected by self-custody architecture
Settlement Compliance
All settlement processes comply with SEC Rule 15c6-1 requirements. The atomic settlement model exceeds T+1 requirements by providing instantaneous settlement, with complete audit trails maintained onchain.
- Exceeds SEC Rule 15c6-1 (T+1) requirements
- Complete onchain audit trail for every settlement
- Automated fails management and exception handling
- Real-time settlement status reporting