Issuance
Shares, bonds and cash, issued in digital form.
More on issuanceDigital securities infrastructure
Digital securities, alongside the infrastructure you run.
Issuance, custody, settlement and asset servicing, for depositories, central banks and exchanges.
How it fits
It sits next to your core system.
Your systems keep their role. DACS keeps the register of digital securities, settles them, and exchanges instructions, confirmations and statements with your systems in the formats your operations already use.
Your infrastructure
Depository, central bank or exchange.
Market formats
Instructions, confirmations and statements.
DACS
The register of digital securities.
Settlement
Two legs, exchanged together.
What it does
Issuance, custody, settlement, servicing.
Custody
Segregated accounts per participant. Roles set per security.
More on custodySettlement
Delivery versus payment. Both legs move together, or neither does.
More on settlementServicing
Coupons, dividends and redemptions, computed once for every holder.
More on servicingSettlement
Both legs move together, or neither does.
Each instruction pairs a securities leg with a cash leg. They settle in one step: if one leg cannot settle, nothing moves.
InstructionDelivery versus payment
1,000 unitsSecurities leg · Green Bond 2031
PendingLockedSettled
1,000,000.00 EURCash leg · digital cash
PendingLockedSettled
Who it is for
Depositories, central banks and exchanges.
Central securities depositories
Open a digital register next to your core system: issuance, corporate actions and reconciliation, in the formats your operations already use.
Central banks
Bring central bank money to digital securities, with read-only access for supervision.
Exchanges
Settle listed digital securities with pre-settlement checks, both legs together.
Deployment
Your infrastructure, or ours.
Licence
You run DACS in your own environment, under your own operations and controls.
Operated service
We run DACS for you, hosted in the European Union.
Built to integrate.
API reference and guides, available to institutions on request.