ICMA’s Bond Data Taxonomy provides an agreed language to promote automation and reduce the risk of fragmentation across bond issuance, trading, settlement, and distribution. The BDT provides a standardised and machine-readable language of key economic terms of a bond (such as amounts, currency, maturity, interest), key dates (such as pricing, settlement) as well as other relevant information (such as governing law, ratings, selling restrictions) typically included within a term sheet.
The BDT is technology agnostic and is designed to be used both for traditional debt securities as well as DLT-based debt securities. Where relevant, the BDT also incorporates existing ISO data definitions and formats. The BDT’s XML files can be integrated into a broad range of applications (including Excel, databases, front and back office systems, APIs, to token standards such as ERC-20 or other token standards), fostering interoperability between traditional bonds and DLT bonds as well as issuance, trading and lifecycle events.
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