Update on the Digital Gilt Instrument (DIGIT) pilot issuance
The Chancellor announced that DIGIT will be issued by Q1 2027, and the government is taking steps to prepare for potential future issuances. HSBC and LSEG have signed an MoU to develop connectivity together to support investor access.
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Following the appointment of HSBC as the platform provider for the pilot DIGIT issuance in February, the government is announcing further updates on the progress of the pilot. The Chancellor has announced that government is taking steps to prepare for potential further Digital Gilt Instrument (DIGIT) issuances, subject to the success of the first transaction that will take place by Q1 2027 on HSBC’s digital securities depository (DSD), HSBC Orion. HSBC and LSEG (London Stock Exchange Group) have signed a memorandum of understanding to deliver a bilateral Digital Securities Depository link to support investor access to the pilot issuance.