Digitizing the core

Developed in collaboration with Google Cloud, D7 Digital offers a scalable system to handle the majority of digital issuances for Germany, Luxembourg, and, soon, the international market. The platform enables you to issue securities within seconds. 

Products in scope

The service is currently available for all retail structured products (RSPs) issued in Germany and a range of debt capital market (DCM) products.

Tokenizing Securities

D7 DLT complements D7 Digital by a Distributed Ledger Technology (DLT)-based architecture to enable seamless tokenization of securities. With D7 DLT, you can issue securities on blockchain, handling both securities and central bank digital currencies, with a vision to further scale these capabilities in the future.

ECB Trials and Experiments

From May to November 2024, the ECB invited market participants to trials and experiments aimed at exploring the potential of digital payments targeting a wholesale Central Bank Digital Currency (wCBDC). Acting as DLT market operator, Clearstream has conducted several successful live issuances with a variety of partners covering complex use cases and different asset classes (commercial paper, intraday repo). 

Next step: connect to permanent ECB solution 

With the Eurosystem’s introduction of a permanent digital euro, institutional interest in DLT-based solutions is expected to accelerate. To support Eurosystem’s continuing commitment to safe, efficient settlement in central bank money (CeBM), we are set to participate in the ECB’s initiative on DLT settlement:

• Pontes: Short-term offering to provide a DLT-based interoperability solution that links market DLT platforms with TARGET services to settle DLT transactions using digital wholesale CeBM 
• Appia: Part of the ECB’s long-term strategy, explores the wider role of DLT—that is, beyond settlement and its effects on monetary policy and regulation

Products in Scope 

We plan to extend the ECB trials infrastructure to support securities issuance on a private, permissioned DLT platform, launching with Eurobond instruments starting in Q4/2025.

This initiative marks the beginning of a broader expansion of our product and service offerings on DLT in the coming years. Our DLT-based solutions are designed to deliver key benefits to clients, including instant settlement and interoperability between distributed ledger and legacy financial systems.

Automating Processes

The D7 Pre-Issuance API contributes to the technical architecture of the D7 platform to enable a zero-touch, same-day, fully digitalized and standardized issuance process. With the API, you can automate the issuance process for debt securities, across all CSDs.

API integration

The API exposes business and technical data directly to client and partner IT systems, enabling seamless and secure integration.

Key features

• Real-time pre-allocation of ISINs, common codes, CFI (Classification of Financial Instruments) and FISN (Financial Instrument Short Name) codes
• Instrument data delivery
• Enhanced speed, scalability and user experience across the securities life cycle

Find out more

Further digitization of the capital market

As of H2/2026, D7 will enable the seamless issuance of electronic shares (e-shares) and the conversion of existing paper-based documents to electronic entries in Clearstream’s central register.

To use the e-share offering, it is necessary to create legal certainty by amending your company’s articles of incorporation, which requires a respective voting at the annual general meeting (AGM). Make sure to add a respective approval item to the agenda of your upcoming AGM.

Your benefits

• Efficiency: No need to print, sign or deliver physical certificates
• Security: Eliminates risks of loss or counterfeiting
• Cost savings: Reduced issuance fees
• Speed: Enables faster issuance and central register updates
• Future-proof: Physical securities will become obsolete

Further information will be published here once available. Stay tuned.