Deutsche Börse and Commerzbank recently announced the successful completion of a pilot for tokenized securities trading and settlement, which has attracted widespread attention in the industry. Tokenized securities, as an innovative application of blockchain technology in the financial field, will bring revolutionary changes to traditional securities trading. This article will explore the significance of the cooperation between the German Stock Exchange and Commerzbank in depth, revealing the potential and future development direction of tokenized securities.

The cooperation between the German Stock Exchange and Commerzbank marks the recognition and application of blockchain technology by traditional financial institutions. In this pilot project, the two parties jointly explored the feasibility of tokenized securities trading and settlement, paving the way for the digital transformation of the future financial market. This move not only enhances the international competitiveness of the German financial market, but also injects new vitality into the global financial technology field.

The concept of tokenized securities is not unfamiliar. It is to digitize traditional securities through blockchain technology and issue and trade them in the form of tokens. Compared with traditional securities, tokenized securities have the advantages of high liquidity, low transaction costs, and fast transaction speed. Through the immutability and transparency of blockchain, tokenized securities are also more secure and traceable. This innovative financial instrument is expected to bring more convenience and opportunities to investors and issuers.

The pilot project of the German Stock Exchange and Commerzbank provides strong support for the promotion and application of tokenized securities. In the future, with the continuous development of blockchain technology and the gradual improvement of financial regulatory policies, tokenized securities are expected to be more widely recognized and applied worldwide. This new form of finance will change the model of traditional securities trading and promote the development of financial markets in the direction of digitalization and intelligence.

In addition to the financial market, tokenized securities will also have a profound impact on the real economy. Through blockchain technology, companies can raise funds more conveniently, and investors will also have more diversified investment options. This decentralized financial model is expected to promote the innovative development of the real economy and promote the process of economic globalization. The emergence of tokenized securities will bring new business opportunities to companies and investors, stimulate market vitality, and promote economic growth.

In general, the cooperation between the German Stock Exchange and Commerzbank marks the official opening of a new era of tokenized securities in the financial field. This innovation will bring more opportunities and challenges to the financial market, and will also promote the transformation of traditional financial models to digitalization and intelligence. As an important breakthrough in the field of financial technology, tokenized securities are expected to inject new vitality into the global financial system and bring more development opportunities to investors and companies. Let us look forward to the future of tokenized securities and witness the continuous innovation and development of financial technology.

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Deutsche Boerse announced on October 23 that it had successfully completed a "pilot for after-hours securities trading settlement" with Commerzbank using digital currency and distributed ledger technology (DLT). In addition, the two parties also studied legal concepts and jointly funded the development of basic technologies.

Deutsche Boerse said that asset management company MEAG, which belongs to ERGO Group, a subsidiary of Munich Re, also participated in the pilot. The settlement completed payment delivery and tokenized cash transfer. The press release stated that the participants issued digital tokens in the transaction with the help of commercial bank currency and securities, and then generated cash tokens (Cash Token) and securities tokens (Securities Token).

Subsequently, Eurex Clearing, a European futures exchange under Deutsche Boerse, will act as a "central counterparty" and "tokenization institution", and Commerzbank will further deploy tokenized cash as collateral at Eurex Clearing. During the pilot, MEAG was responsible for acting as the buyer of securities, while Commerzbank was the seller and custodian of security tokens.

According to Deutsche Börse, blockchain technology simultaneously enabled the final and binding settlement of token swaps, thus achieving another milestone for trading participants in exploring the application of distributed ledger technology for after-hours services. Deutsche Börse added that the concept of the pilot transaction has been shared with regulators, but further implementation still requires approval from the other party.

Blockbaster reported in October last year that the German Central Bank, Deutsche Bank and Deutsche Börse had successfully completed a trial of applying blockchain solutions to the settlement field. It is understood that this trial of blockchain-based settlement technology research, called Blockbaster, began as early as 2016. The report summary shows that the main purpose of this joint research is to conduct the entire process of bond issuance, settlement, corporate behavior and redemption on the blockchain, as well as cash transfers, including the supply of digital tokens, fund transfers between market participants, and settlement of cash payments.