Deutsche Börse bids to reinvent post-trade with DLT-based D7 project

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Deutsche Börse is preparing for the phased launch of a new cloud-backed and DLT-ready platform, D7, paving the way for same-day-issuance and paperless, automated straight-through processing for the entire value chain of issuance, custody, settlement, payment and asset servicing for digital securities.

Anchored in the recently introduced German digital securities law framework, the D7 platform is being developed in collaboration with long-term technology partners Digital Asset and Microsoft, as well as R3 and VMware.

The Exchange has also roped in a host of market participants to help with the project, including BNP Paribas, Citi, DekaBank, Deutsche Bank, dwpbank, DZ Bank, Goldman Sachs, Raiffeisen Bank International and Vontobel.

Stephan Leithner, member of the executive board of Deutsche Börse, responsible for pre- & post-trading, says: “With D7, we’re providing the financial community with a next generation digital securities post-trade platform to unlock the potential of truly digital and decentralised finance. It’s time not only to digitise single processes; it’s time to reinvent post-trading altogether for a stronger, more sustainable and digital future of securities markets.”

The complete functionality of the D7 platform will be rolled out in phases over the next few years, beginning with the implementation of a digital central register at Clearstream Banking next month. By mid-2022, D7 will move to same day issuance and the introduction of paperless certificates and warrants. Over the following two years DLT capabilities will come onstream, including connections to existing offerings, such as HQLAx for collateral basket lending service and FundsDLT for funds administration/distribution.

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