The UK is a step closer to launching its first digitally native government bond, with roles allocated to the six banks supporting the landmark pilot.
Barclays, HSBC, Lloyds, Morgan Stanley, NatWest and RBC Capital Markets have been allocated specific Lead Manager roles for the pilot issuance of the Digital Gilt Instrument (DIGIT), marking another major step towards its launch.
The roles cover key parts of preparing and delivering the transaction, from documentation and bookbuilding to investor communications and helping investors access the digital platforms through which DIGIT will be available.
The Bank of England has also confirmed regulatory approval for a link between HSBC and LSEGโs Digital Securities Depositories. The world-first link will give investors the option of accessing DIGIT through either infrastructure, helping reduce fragmentation between digital platforms and support wider participation in the pilot.
Together, the announcements provide greater certainty for investors ahead of the planned pilot issuance, which is expected to take place by Q1 2027.