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In deliveryUnited KingdomServices£0Add to pipeline

Provision of Services for HM Treasury for a Pilot Digital Gilt Instrument (DIGIT) issuance

Awarded to HSBC BANK PLC

HM Treasury(buyer)

Published
Published 18 March 2025
Deadline
Closed 17 November 2025
See all 9 awarded contractsHow Skim finds tendersView original notice ↗

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Overview

HM Treasury procured services from HSBC Bank PLC to develop and deliver a pilot Digital Gilt Instrument (DIGIT) issuance using Distributed Ledger Technology on a platform within the Digital Securities Sandbox, including digital note issuance, distribution, settlement, and lifecycle event management. The contract, awarded in February 2026, is now complete and includes interoperability functionality and connectivity requirements. This procurement was exempt from the Procurement Act 2023 under Schedule 2.

Contracting authority

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Key details

Country
United Kingdom
Status
In delivery
Category
Services
Estimated value
£0
Procedure
Open procedure
Rules
Procurement Act 2023
SME suitable
Yes
Published
18 March 2025
Questions by
29 October 2025
Deadline
Closed
Classification (CPV)
Software package and information systemsFinancial markets administration servicesIT services: consulting, software development, Internet and support

Award outcome

Awarded value
£0
Award date
10 February 2026
Contract period
15 December 2025 → 14 December 2028
Contract length
3 years
Could run to
10 February 2030
Winner
  • HSBC BANK PLC

This contract ends on 14 December 2028, or 10 February 2030 if every extension is used.

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About the winner

HSBC BANK PLC

Based in
London

No other contract from HM Treasury under this supplier name in Skim's records.

See every contract HSBC BANK PLC holds and when each one ends

Competition and scoring

How bids were scored

Price 20% · Quality 80%

  • TECHNICAL (inc. Social Value)70%
  • PRESENTATION10%
  • COMMERCIAL20%

Price and cost criteria in black, quality in blue.

Market context

Typical award in Software package and information systems

£102,000

Median of 11,509 awards in the last 24 months

HM Treasury in the last 12 months

8

contracts awarded, worth £14,093,729 in total

See their procurement profile →

Recent awards in Software package and information systems

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Notice history

Every published notice in this contracting process, newest first.

  1. Contract

    12 February 2026

  2. Tender Update

    13 November 2025

  3. Tender Update

    11 November 2025

  4. Tender Update

    5 November 2025

  5. Contract Notice

    7 October 2025

  6. Prior Information Notice

    18 March 2025

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