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Deutsche Börse Names Digital Asset Strategic Technology Partner for its New Digital Post-trade Platform
By Digital Asset. Oct 6, 2021 8:00:58 AM
Today’s announcement builds on a long-term strategic partnership and shared vision of digitizing financial markets
October 6, 2021
Digital Asset today announced that it has been selected by Deutsche Börse, a financial market infrastructure provider, as a long-term strategic technology partner for its new fully digital post trade platform, D7. The new cloud-backed and DLT-ready platform paves the way for same-day-issuance and paperless, automated straight-through processing for the entire value chain of issuance, custody, settlement, and asset servicing for digital securities.
The D7 platform is being developed jointly with a dedicated market community and in
collaboration with long-term strategic technology partners, such as Digital Asset. In the first phase of the project roll-out, Deutsche Börse is working with Digital Asset to build a central registry system. For the first time in Germany, the new registry, built on a centralized database and other tools, forms the basis for issuance and custody of dematerialized securities in compliance with new legislation introduced earlier this year.
In subsequent rollouts, D7 will also support same-day-issuance and paperless, automated straight-through processing for certificates and warrants issued at Clearstream Banking AG. To this end, Deutsche Börse will leverage Daml smart contracts from Digital Asset to create and process Digital Instruments, the digital description of (electronic) securities, to manage the securities alongside the entire value chain.
Deutsche Börse’s new central registry is expected to be available in November 2021 followed by the full integration of smart Digital Instruments in mid-2022. Additional functions and features supporting distributed networks and distributed ledger technology with Daml smart contracts, among other tools, will be forthcoming in 2022 and beyond.
Deutsche Börse joins several leading organizations across capital markets that rely on Digital Asset to transform disparate data silos into synchronized networks. Digital Asset’s exchange client base includes the Australian Securities Exchange, Hong Kong Exchanges and Clearing, Nasdaq, and most recently Bursa Malaysia tapped Digital Asset to lead its dematerialization program for structured warrants.