02 — Capital markets · Markets
Markets.
Transparent venues for productive assets and settlement instruments — by formula, not free float.
CNV orbit · secondaryComing online
Markets opens later.
A transparent venue for settlement instruments — the Ruba secondary market and, in the rent phase, IOU.LAND redemption windows at emergent rates.
Back to overview ↖By design: windows are capped at par plus accrued coupon and IOU.HOUSE reassignments stay at formula, never a free-floating market price. A free market in the right to inhabit would reintroduce the speculation the whole system removes.
What will and won't trade here
Not every instrument belongs in a secondary market — and the ones that do trade by formula.
Bonds
Rubas · transferable
Energy bonds may change hands at a defined price, like any debt.
Use-rights
Formula only
IOU.LAND reassignment follows a resale formula — cost plus an inflation adjustment.
Never
No free float
No market-priced speculation on land or usufruct. Ever.