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Citi's Issuer Services, a part of Securities Services, today acted as the Issuing and Paying Agent for the first Digitally Native Note (DNN) issuance under English Law via Euroclear's Digital Financial Market Infrastructure (D-FMI) distributed ledger technology (DLT) platform. The EUR 100 million 3-year DNN was issued by the World Bank - International Bank for Reconstruction and Development (IBRD) - (rated Aaa/AAA) and listed on the Luxembourg Stock Exchange.
The creation and settlement of DNNs on a T0 basis is an important first step in the evolution of bonds and lays the foundations for a fully digital end to end transaction lifecycle.
This partnership between existing key industry stakeholders provides a scalable model that delivers the benefits of...
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