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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

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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
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
Winner
  • HSBC BANK PLC

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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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