In a landmark transaction, the Federal State of Saxony-Anhalt has this week issued a €50 million digital commercial paper in the form of dematerialised electronic securities in accordance with the German Electronic Securities Act. NatWest Markets Europe acted as Sole Lead Manager on the transaction, selling the Notes to DekaBank.
Notes to editors:
Eurosystem Exploratory Work on New Technologies for the Settlement of Wholesale Financial Transactions in Central Bank Money
The Eurosystem, i.e. the monetary authority of the Euro area comprising the European Central Bank and the national central banks of the Member States whose currency is the Euro, is exploring how wholesale financial transactions recorded on Distributed Ledger Technology (DLT) platforms could be settled in central bank money and how different solutions could facilitate interaction between the Eurosystem's traditional payment system and DLT platforms.
Deutsche Bundesbank Trigger Solution
Deutsche Bundesbank provides support for the Exploratory Work in the form of a DLT-based Trigger Solution linking market DLT platforms to the traditional Eurosystem payment system (T2), enabling the direct settlement of DLT-based wholesale transactions on participants' existing RTGS accounts in central bank money.
NatWest Markets
NatWest Markets helps corporate and institutional customers manage their financial risks and achieve their short- and long-term financial goals while navigating changing markets and regulation. Our products and solutions are centred around three pillars: Rates, Currencies and Financing. We have developed digital self-service applications covering FX, rates, risk management, international payments and many more services. Our strategists and content experts across Currencies, Risk and Financing offer fresh thinking alongside market-leading economic insights in the key economies where our customers do business. We operate from trading hubs in London, Amsterdam, Singapore and Stamford with sales offices across key locations in the UK, EU, US and Asia.
Disclaimer
The securities referred to have not been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”). They may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an available exemption from the registration requirements of the Securities Act, or to retail customers
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