The digital securities infrastructure will launch in stages, with the main components going live across 2026 and 2027. Subject to regulatory approval, it will cover the entire securities lifecycle, from issuance, distribution, settlement and custody, through to asset servicing, liquidity and financing. It will serve Clearstream’s clients across both traditional and digital financial markets, regardless of the technology, asset type or money type involved, for all assets regulated under the EU’s MiFID and MiCA legislative frameworks.