Procurement Summary
Country : United Kingdom
Summary : Services to support the launch of a pilot Digital Gilt Instrument (DIGIT) issuance, using distributed ledger technology (DLT).
Deadline : 13 Apr 2025
Other Information
Notice Type : Tender
TOT Ref.No.: 116660162
Document Ref. No. :
Financier : Self Financed
Purchaser Ownership : Public
Tender Value : Refer Document
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Login to see detailsTender Details
HM Treasury (HMT) and the UK Debt Management Office (DMO) are seeking information to understand what technological options are available to facilitate an issuance, and how the digital gilt instrument (DIGIT) can be best designed to stimulate wider development and adoption of distributed ledger technology (DLT) infrastructure across UK capital markets. This engagement is being undertaken to gather information about the potential technology options, the scope of services that may need to be procured and investor preferences regarding a DIGIT issuance. The outcomes will inform thinking around the optimal commercial strategy and procurement process. The delivery of the pilot DIGIT issuance is being managed jointly by HMT and the DMO. HMT is the contracting authority in any commercial agreements. HMT and the DMO want to understand the views of potential suppliers and the financial services sector as to what DIGIT should deliver. However, to ensure objectives are met, certain design decisions have already been taken: • DIGIT will be an entirely new, digitally native, UK Government debt instrument. DIGIT will be a transferable security held on a DLT platform. • DIGIT will be issued on a platform within the Digital Securities Sandbox. The choice to utilise the DSS is first and foremost because existing regulations applicable to the issuance of Government debt (the Government Stock Regulations 2004 and the Stock Transfer (Gilt Edged Securities) (CGO Service) Regulations 1985), are uns...
Documents
Tender Notice