Digital-native issuance
Securities are created and registered electronically. A single issuance record replaces the traditional paper certificate.
International Issuance
Dematerialized Eurobonds
A fully digital, future‑ready model for international debt issuance
The Future of Eurobonds Is Digital
International capital markets are shifting to digital-first issuance models. Clearstream’s dematerialized Eurobond solution enables issuers to create and maintain securities electronically, eliminating physical global notes and simplifying the issuance lifecycle.
Dematerialized Eurobonds offer issuers and their agents a secure, transparent and automated way to issue and service international debt instruments—fully integrated within Clearstream’s trusted ICSD infrastructure and aligned with existing market practices.
Key Characteristics
Future-proof issuance model
This issuance type enables same-day issuance, aligning with the industry’s move to T+1 settlement.
Enhanced automation
Based on a new data standard, dematerialized issuance supports interoperability across all market participants.
Eurosystem collateral eligibility
Dematerialized Eurobonds will qualify as eligible as Eurosystem collateral from March 30, 2026.
How it works
A Simplified Digital-first Process
Simple digital setup
Submit your issuance data through established channels and profit from full automation, e.g., via our D7 Pre-Issuance API.
Instant record creation
Replace global certificates with a single, definitive Issuance Record as the ultimate proof of legal title for your securities.
Seamless lifecycle management
Enjoy issuance, settlement and asset servicing of your securities within our trusted infrastructure.
Automated termination
Benefit from fully automated redemption and mark-down of the issue at maturity, without any manual intervention.
How you benefit
Faster, More Efficient and Secure Issuance
Dematerialized issuance replaces the complexities of physical paper notes with a streamlined, secure digital framework.
Accelerate your path to market
Compressed issuance timelines, including the potential for same-day issuance, boost your operational efficiency and reduce your market exposure.
Drive down operational risk
The elimination of physical certificates, vault inspections and wet-ink signatures removes associated costs and capacity constraints. This significantly reduces operational and business resiliency risks.
Future-proof your issuance strategy
Align with the evolution of securities law and meet environmental, social and governance (ESG) compliance goals with a “greener” issuance model.
What's in Scope: A Step-by-Step Expansion
The initial scope is focused on debt securities issued under English law by UK-based and supranational issuers. We support a wide range of debt securities from day one, including plain-vanilla bonds, medium-term notes, commercial paper, certificates of deposit, convertible bonds and equity-linked notes. Our expansion is planned in two upcoming stages, broadening the scope to new jurisdictions, laws, and asset classes. In H2/2026, issuers from other jurisdictions (Germany, Luxembourg) will be eligible. In H1/2027, the model will be extended to further governing laws and additional asset classes.
KEEP EXPLORING
Related Resources
Reshaping Global Markets
Webinar Recording
Get an overview of the new dematerialized Eurobond issuance model with experts from both ICSDs.
Prepare for Paperless Issuance
Market Link Guide
Access operational guidance and supporting materials for dematerialized Eurobond issuance in our resource library.