Citi’s Issuer Services, a segment of Securities Services, acted as the Issuing and Paying Agent for the first Digitally Native Note (DNN) issuance under English Law through Euroclear’s Digital Financial Market Infrastructure (D-FMI) distributed ledger technology (DLT) platform. The transaction involved a EUR 100 million, 3-year DNN issued by the World Bank – International Bank for Reconstruction and Development (IBRD) and was listed on the Luxembourg Stock Exchange.
The Significance of Digitally Native Note Issuance
The issuance and settlement of DNNs on a T0 (same-day) basis mark a pivotal advancement in the bond sector, laying the groundwork for a fully digital transaction lifecycle. This initiative demonstrates a scalable model that merges the merits of digitization with existing bond accessibility and liquidity. It showcases how blockchain technology can mesh with current capital market frameworks, aiming at enhanced efficiency…
