The start of the pricing phase to include the first digital bond in "Abu Dhabi Securities"
Abu Dhabi, July 3 / WAM / The Abu Dhabi Securities Market announced today, the start of the pricing phase as a first step towards the inclusion of the first digital bond in the region based on the technology of the distributed records of the records.
Abu Dhabi First Bank issued this digital bond using the HSBC Orion platform, a global platform in the field of digital assets, managed by the Hong Kong Monetary Authority, and the bond was structured with the support of the most prominent international law firm, reflecting the high level of governance of this issue.
The expected listing is a detailed step within the efforts of the Abu Dhabi Securities Market to lead financial innovation and support the digital transformation agenda of the Emirate of Abu Dhabi.
International investors can reach the digital bond through their accounts in the Hong Kong Monetary Authority, or through Eurosleer or Clerester, or by direct joining the HSBC Orion as participants, or through their faithful secretaries who can participate through any of these channels.
The digital bond joins the growing group of financial products provided by the Abu Dhabi Securities Market, within the framework of its strategy that aims to provide innovative financial tools and enhance its role in providing based on digital asset financing tools.
Digital bonds, which are fixed income tools that are exported and recorded via blockchain technology, provide greater operational efficiency and improved settlement courses, as they reduce the risks of the opposite party, adopt a high level of safety, in addition to that it provides transparency reinforced for institutional investors.
HSBC took the only global coordinator, the director of the issuance and the director of the subscription record in this process, and played a pivotal role in bringing this entirely based version on blockchain technology to the Middle East and North Africa region.
Abdullah Salem Al Nuaimi, CEO of Abu Dhabi Securities Market Group, said that the successful version of the first digital bond is supported by blockchain technology in the region in close cooperation with the first Abu Dhabi Bank and “HSBC” is a pivotal moment in the “market” march that aims to upgrade financial markets by adopting the most prominent ways of innovation.
For his part, Lars Kramer, head of the group’s financial affairs at Abu Dhabi Bank I, said that the issuance of this digital bond in cooperation with the Abu Dhabi Securities Market and HSBC is an advanced step that redefines the criteria of efficiency, transparency and safety, in line with the advanced organizational framework of the UAE.
For his part, Mohamed Al Marzouqi, CEO of HSBC Limited Middle East in the UAE, said that the launch of the first digital bond in the Middle East and North Africa region in the Abu Dhabi Securities Market, represents a qualitative development that embodies the commitment towards digital transformation in the field of trading bonds and securities in the region.
This digital bond is designed to ensure its compatibility with the infrastructure of the global settlement, as it combines digital technology and the traditional post -trading infrastructure, and the gap between the traditional markets and future version models, which enhances the ease of access to investment institutions.
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