First bond issue on blockchain for QTC

Queensland Treasury Corp ran a prototype bond auction on Commonwealth Bank of Australia’s blockchain platform, the bank said on Tuesday. QTC generated a bond tender, viewed investor bids in real time, finalised investment allocation and settled the dummy issue instantly — although it was on both sides of the deal, as sole issuer and investor.
According to a release from Commonwealth Bank of Australia, the bond contract is also recorded on the blockchain, and is a “smart contract” which pays coupons automatically. The issue is a “working prototype” which is not tradeable.
Plenty of start-ups and banks have worked on blockchain settlement ...Already a subscriber? Login
Further Reading
-
Leveraged Loans
HIG Capital hires another MD for European direct lending biz
-
People & Markets
EC calls for public comment in review of bank crisis rules
-
Regulation & Policy
China policy and markets round-up: Beijing hones in on green finance, southbound Bond Connect to launch before year-end, BOC, ICBC name new presidents
-
Syndicated Loans
GlobalCapital Syndicated Loan, Leveraged Finance and Private Debt Awards 2020: the full results