To clarify the eligibility criteria and guide issuers of security tokens through the admission process, LuxSE today published Guidelines for the registration of DLT financial instruments onto SOL
. To be considered for admission on LuxSE SOL, security tokens will need to respect these guidelines as well as the LuxSE SOL Rulebook.
A pioneer in the field
Societe Generale is a pioneer in the DLT space, with innovation sitting at the heart of the group’s strategic priorities. Since April 2019, Societe Generale and its subsidiary SG - FORGE, dedicated to digital assets, structured several native security tokens issuances deployed on DLT for their clients. The last in time being the European Investment Bank’s (EIB) 100m€ digital bond issued in 2021.
Arnaud Jacquemin, CEO of Societe Generale Luxembourg and member of the Societe Generale group Management Committee, commented: “Leveraging on the differentiating expertise of the SG - FORGE teams, our intimate knowledge of the Luxembourg capital market environment and our close relationship with LuxSE, this first-ever listing shows our institutions’ capacity to step-by-step implement a truly innovative technology, thus helping build tomorrow’s global capital market distribution approach and infrastructure”.
Facilitating indicative price dissemination and data
Given the complex nature of security tokens, in the initial phase, LuxSE’s new service will only be available to experienced issuers and applicants with a proven track record in capital markets transactions. Moreover, only financial instruments, and more specifically debt securities, can be admitted on LuxSE SOL at this stage.
As is the case for other securities registered on LuxSE SOL, security tokens will not be admitted to trading on LuxSE’s markets. However, the registration of DLT securities on LuxSE SOL will provide enhanced visibility to security tokens and their issuers, and furthermore facilitate the dissemination of indicative prices and securities data on this new form of financial instruments.