Challenge
- Equity markets around the world are demanding faster clearing and settlement services
- Need to modernize settlement clearing processing and ensure their relevance in capital markets for years to come
Solution
- Digital CSD built on Corda integrated into upstream and downstream services such as centralized registry(s) and off-ledger settlement
- List, hold registry for, custody and settle a broader spectrum of institutional grade digital assets alongside traditional assets
- Potential to enable T+0 atomic settlement
- Why Corda? Corda was selected due to its unique distributed architecture and capabilities to improve the transparency, speed and resilience of the bond issuance process.
Results
- 1st digital bond issued on Euroclear’s D-FMI platform by the World Bank with Citi acting as issuer agent and TD Securities acting as dealer
- Reduced settlement time to reduced counterparty, credit and default risk
- Expand customer and asset bases over time
- Impactful shift in how capital markets operate
- Manage full end-to-end asset lifecycle from issuance to settlement
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