--- title: "Provision of Services for HM Treasury for a Pilot Digital Gilt Instrument (DIGIT) issuance" ocid: "ocds-h6vhtk-04ee43" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-04ee43" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-04ee43.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-04ee43.json" source: "Find A Tender Service" current_stage: "Award" buyer: "HM TREASURY" published: "2026-02-12" --- # Provision of Services for HM Treasury for a Pilot Digital Gilt Instrument (DIGIT) issuance Buyer: HM TREASURY Current stage: Award OCID: ocds-h6vhtk-04ee43 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-04ee43) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-04ee43.json) ## Summary 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. ## Notice 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 ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/012654-2026 | | 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 | | All stages | Planning, Tender, Award | ## Dates | Field | Value | | --- | --- | | Publication date | 12 Feb 2026 | | Submission deadline | 17 Nov 2025 | | Future notice date | 13 Apr 2025 | | Award date | 10 Feb 2026 | | Contract period | 10 Feb 2026 - 10 Feb 2029 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | Not specified | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Complete | | Lots status | Complete | | Awards status | Active | | Contracts status | Active | ## Buyer | Field | Value | | --- | --- | | Main buyer | HM TREASURY | | Locality | LONDON | | Post town | South West London | | Postcode | SW1A 2HQ | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI3 Inner London - West | | ITL 3 | TLI35 Westminster and City of London | | Local authority | Westminster | | Electoral ward | St James's | | Westminster constituency | Cities of London and Westminster | | Delivery location | Not specified | ## Supplier | Field | Value | | --- | --- | | Number of suppliers | 1 | | Supplier names | HSBC BANK | ## CPV Codes ### Divisions - 48 - Software package and information systems - 66 - Financial and insurance services - 72 - IT services: consulting, software development, Internet and support ### Codes - 48000000 - Software package and information systems - 66150000 - Financial markets administration services - 72000000 - IT services: consulting, software development, Internet and support ## Release History - 12 Feb 2026 at 07:07 - Award - UK7 - Contract Details Notice - https://www.find-tender.service.gov.uk/Notice/012654-2026 - 13 Nov 2025 at 09:30 - TenderUpdate - UK4 - Tender Notice - https://www.find-tender.service.gov.uk/Notice/073385-2025 - 11 Nov 2025 at 19:25 - TenderUpdate - UK4 - Tender Notice - https://www.find-tender.service.gov.uk/Notice/072980-2025 - 5 Nov 2025 at 20:09 - TenderUpdate - UK4 - Tender Notice - https://www.find-tender.service.gov.uk/Notice/071439-2025 - 7 Oct 2025 at 14:39 - Tender - UK4 - Tender Notice - https://www.find-tender.service.gov.uk/Notice/062967-2025 - 18 Mar 2025 at 09:50 - Planning - UK2 - Preliminary Market Engagement Notice - https://www.find-tender.service.gov.uk/Notice/009813-2025 ## Documents - https://www.find-tender.service.gov.uk/Notice/012654-2026 12th February 2026 - Contract details notice on Find a Tender - https://www.find-tender.service.gov.uk/Notice/073385-2025 13th November 2025 - Tender notice on Find a Tender - https://www.find-tender.service.gov.uk/Notice/072980-2025 11th November 2025 - Tender notice on Find a Tender - https://www.find-tender.service.gov.uk/Notice/071439-2025 5th November 2025 - Tender notice on Find a Tender - https://www.find-tender.service.gov.uk/Notice/062967-2025 7th October 2025 - Tender notice on Find a Tender - https://www.find-tender.service.gov.uk/Notice/009813-2025 18th March 2025 - Preliminary market engagement notice on Find a Tender - https://www.find-tender.service.gov.uk/Notice/Attachment/A-5997 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-5998 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-5999 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-6000 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-6001 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-6002 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-7417 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-7418 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-7680 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-7681 - https://www.find-tender.service.gov.uk/Notice/Attachment/A-7770 ## Notice URLs - http://www.hsbc.com - https://www.gov.uk/government/organisations/hm-treasury - https://www.gov.uk/government/publications/announcement-of-preliminary-market-engagement-exercise-for-the-digital-gilt-instrument-digit-pilot - https://www.legislation.gov.uk/ukpga/2023/54/contents ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-04ee43. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-04ee43.json.