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

HM Treasury

This public procurement record has 6 releases in its history.

Award

12 Feb 2026 at 07:07

UK7 - Contract Details Notice
TenderUpdate

13 Nov 2025 at 09:30

UK4 - Tender Notice
TenderUpdate

11 Nov 2025 at 19:25

UK4 - Tender Notice
TenderUpdate

05 Nov 2025 at 20:09

UK4 - Tender Notice
Tender

07 Oct 2025 at 15:39

UK4 - Tender Notice
Planning

18 Mar 2025 at 09:50

UK2 - Preliminary Market Engagement Notice
Summary of the contracting process

The procurement process for the "Provision of Services for HM Treasury for a Pilot Digital Gilt Instrument (DIGIT) issuance" seeks to utilise Distributed Ledger Technology within the Digital Securities Sandbox. Managed by HM Treasury, a central government authority located at 1 Horse Guards Rd, London, this project covers the industry categories of software package and information systems, financial markets administration, and IT services. The process has moved from planning stages into an award phase as of 12 February 2026. HSBC BANK PLC, based in London, has been selected as the supplier to develop and execute the necessary services for issuing and settling DIGIT, with the contract active from 10 February 2026 until at least 10 February 2029, with potential extensions until 2030. The procurement method employed was an open procedure, exempt from the provisions of the Procurement Act 2023.

This tender offers substantial business growth opportunities, particularly for companies in financial technology and software services sectors capable of delivering interoperable platforms and connectivity. Large-scale firms with competencies in distributed ledger technology are well-suited for this contract, given the project's reliance on advanced technological infrastructures to issue and manage digital securities innovatively. Additionally, businesses with expertise in providing comprehensive IT solutions for high-profile government projects may find prospects for collaboration and service provision. The contract encourages collaboration as well, potentially opening doors for partnerships between various service providers to manage different lifecycle aspects, enhancing both opportunities and competitive dynamics in the technology sector.

How relevant is this notice?

Notice Information

Notice Title

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

Notice Description

HM Treasury (the Authority) intends to issue DIGIT using Distributed Ledger Technology on a platform within the Digital Securities Sandbox which was established by the Financial Services and Markets Act 2023 (Digital Securities Sandbox) Regulations 2023, and which came into force on 8 January 2024. The proposal requires Supplier(s) to develop and provide the necessary services to allow HM Treasury, to issue, distribute and settle DIGIT as a digitally native note within the DSS and accommodate subsequent lifecycle events. The proposal also includes requirements that concern interoperability functionality and connectivity. This contract is exempt from the Procurement Act 2023 in line with Schedule 2 to that Act, therefore the provisions of the Procurement Act 2023 do not apply to this procurement or contract.

Lot Information

Lot 1

Renewal: The contract for the services will be for an initial 3 years' period with an option to extend for a further 1 year.

Planning Information

Questionnaire submitted to suppliers followed by potential virtual supplier event. The Questions and further background are available at the following link: https://www.gov.uk/government/publications/announcement-of-preliminary-market-engagement-exercise-for-the-digital-gilt-instrument-digit-pilot

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-04ee43
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/012654-2026
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

66 - Financial and insurance services

72 - IT services: consulting, software development, Internet and support

CPV Codes

48000000 - Software package and information systems

66150000 - Financial markets administration services

72000000 - IT services: consulting, software development, Internet and support

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
12 Feb 20266 months ago
Submission Deadline
17 Nov 2025Expired
Future Notice Date
13 Apr 2025Expired
Award Date
10 Feb 20266 months ago
Contract Period
10 Feb 2026 - 10 Feb 2029 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
HM Treasury
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1A 2HQ
Postcode Area
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

HSBC BANK PLC

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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