Euroclear and Clearstream digitise eurobond issuance
16 March 2026 Luxembourg, Belgium
Image: Lila Patel/adobe.stock.com
Euroclear Bank and Clearstream, two International Central 网爆吃瓜 Depositories (ICSDs), have launched their respective dematerialised eurobond issuance services.
Issuers can bring eurobonds to market in fully paperless form through both Euroclear and Clearstream.
The firms say the elimination of physical global certificates represents progress in modernising the Eurobond lifecycle across issuance and post-trade processes.
Market participants will benefit from faster processing, improved operational efficiency, and reduced costs through the removal of physical global note handling.
The dematerialised frameworks also enhance security by eliminating risks associated with loss, theft, or forgery, while providing full transparency through electronic ownership records.
Dematerialised eurobonds can be issued initially under English law, with further jurisdictions to be added.
Jens Hachmeister, head of issuer services and new digital markets, Clearstream, says: 鈥淭his initiative represents a fundamental shift for the international debt markets, moving from a paper-based history to a fully digital future.
He adds: 鈥淭he digitisation efforts by the two ICSDs significantly support the growth and effectiveness of European capital markets, making them more robust and attractive for issuers and investors globally.鈥�
Isabelle Delorme, head of product strategy and innovation, Euroclear, notes: 鈥淎 market of this scale 鈥� valued at more than 鈧�15 trillion and experiencing double-digit growth in 2025 could not remain paper-based.
鈥淚t was neither sustainable nor fit for purpose to meet the needs of borrowers and their partners, including agents, law firms and investors.鈥�
Issuers can bring eurobonds to market in fully paperless form through both Euroclear and Clearstream.
The firms say the elimination of physical global certificates represents progress in modernising the Eurobond lifecycle across issuance and post-trade processes.
Market participants will benefit from faster processing, improved operational efficiency, and reduced costs through the removal of physical global note handling.
The dematerialised frameworks also enhance security by eliminating risks associated with loss, theft, or forgery, while providing full transparency through electronic ownership records.
Dematerialised eurobonds can be issued initially under English law, with further jurisdictions to be added.
Jens Hachmeister, head of issuer services and new digital markets, Clearstream, says: 鈥淭his initiative represents a fundamental shift for the international debt markets, moving from a paper-based history to a fully digital future.
He adds: 鈥淭he digitisation efforts by the two ICSDs significantly support the growth and effectiveness of European capital markets, making them more robust and attractive for issuers and investors globally.鈥�
Isabelle Delorme, head of product strategy and innovation, Euroclear, notes: 鈥淎 market of this scale 鈥� valued at more than 鈧�15 trillion and experiencing double-digit growth in 2025 could not remain paper-based.
鈥淚t was neither sustainable nor fit for purpose to meet the needs of borrowers and their partners, including agents, law firms and investors.鈥�
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