There might be some interesting uses for this in financial markets as well. One of the major problems in financial markets is that if you've got a large position you need to buy/sell you can't just put an order out in the market because you'll move the market price.
One of the more popular ways of solving this at the moment is through the use of "dark pools", third parties who will match up counterparties anonymously who want to do large trades in opposite directions. However this isn't ideal because going to a third party introduces latency and complexity with credit checking, etc.
If you could have some way of allowing firms to place orders with each other directly without exposing the details of the orders, it would have a major impact.
You might work at the institutional level where they want to do this frequently, but I don't think most players would trade directly with each other. One of the purposes of exchanges is to reduce counterparty risk. So only those firms that have the resources to fully vet each other would do this. Not all firms will do this because then you have to vet everyone you trade with which is time consuming.
The many reasons why institutions don't often trade directly with each other, including the anonymity, are covered in the book "Trading and Exchanges: Market Microstructure for Practitioners"
Sure but in most markets I'm guessing the majority of flow is between institutions who already have credit lines with each other (or alternatively use clearing houses like CLS or the DTCC).
There are already equity dark pools which operate on the basis that everyone has credit lines with everyone else rather than taking on the counterparty risk/margin management themselves.
One of the more popular ways of solving this at the moment is through the use of "dark pools", third parties who will match up counterparties anonymously who want to do large trades in opposite directions. However this isn't ideal because going to a third party introduces latency and complexity with credit checking, etc.
If you could have some way of allowing firms to place orders with each other directly without exposing the details of the orders, it would have a major impact.