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ICMA’s Bond Data Taxonomy initiative is bringing together market stakeholders across the spectrum of debt capital markets (DCM) to build consensus on bond data exchanged during the issuance process and deliver a data dictionary in machine-readable format. The aim is to support automation from issuance to settlement and trading.
The initial focus is notably on economic terms of a bond (eg nominal amount, currency, interest type, maturity date), and other information typically included within a vanilla bond term sheet (eg whether bearer or registered form, selling restrictions). The Bond Data Taxonomy aims to provide not only a foundation for the automation of existing processes in bond issuance, but also for DLT bonds based on industry consensus on the fundamental characteristics and terminology to serve as a key reference for the digital representation of bonds.
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