How does the SaSame market work?
Public market architecture from information demand through primary issuance, secondary trading and settlement.
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- documentation
- Updated
- 2026-10-04
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Information enters through bring-your-own information or Mining, passes the minimal hard admission boundary, then can move through primary price discovery, funded secondary orders, verified settlement and rights transfer.
Canonical flow
Market information deficit or demand → observation / contribution / Mining → Information Asset admission → listing / primary Market Right → funded secondary trading → verified settlement and rights transfer → organic settled trading volume.
Primary market
Novel information can use demand/RFQ matching, call auction, sealed-bid auction or fixed-price access according to the relevant product path. Submission or listing is not itself liquidity or a sale.
Secondary spot
Market Rights can be offered and bid by participants. Displayed executable liquidity must be funded or reserved under the active production rules. Intent != executable liquidity and Matched != Settled.
Reference versus market price
Reference values can update from information/evidence separately from trades. Best bid, best ask, last trade, settlement and reference are distinct states so SaSame never fabricates a live market price from a model.