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The London Stock Exchange Group (LSEG) has taken a significant step forward in digitalising financial markets with the launch of its Digital Markets Infrastructure (DMI) platform for private funds. The platform, powered by Microsoft 365, aims to significantly improve access to private markets and enhance efficiencies for both digitally-native and traditional assets.
The DMI platform supports the full asset lifecycle, including issuance, tokenisation, distribution, post-trade settlement, and servicing, across multiple asset classes. Private funds were the first asset class to use the DMI platform, with plans to extend it to additional asset classes in the future.
MembersCap and Archax are the first clients to join the LSEG DMI platform. The first transaction on the platform was completed through MembersCap as general partner of MCM Fund 1, with Archax acting as nominee for a major Web3 foundation. EJF Capital has also been onboarded as an early adopter of the DMI platform, with some of its funds expected to be available soon.
Dr Darko Hajdukovic, Head of Digital Markets Infrastructure at LSEG, emphasised the goal of the platform, stating, "Our aim is to support clients across the full funding continuum, alongside other initiatives such as the Private Securities Market." He further added that LSEG's position as a convener of markets can bring significant scale to digital assets and effect real change.
Bill Borden, Corporate Vice President, Worldwide Financial Services at Microsoft, highlighted the innovation driven by the collaboration between Microsoft 365 and LSEG on the DMI platform. He stated, "The collaboration between LSEG and Microsoft 365 is a powerful example of the strategic partnership reshaping the future of global finance, enabling customers to unlock new opportunities and drive meaningful change."
The DMI platform offers scalability and resilience, with a design aimed at accelerating innovation while maintaining high security standards. It adopts an open and interoperable approach, bringing together participants from international markets. The platform is interoperable with existing market solutions in both distributed ledger technology and traditional finance.
The onboarding of clients and the first transaction are considered significant milestones, demonstrating the demand for an end-to-end, interoperable, regulated financial markets DLT infrastructure. As part of the initial rollout, private funds on DMI will be discoverable by Workspace users.
The collaboration between LSEG and Microsoft 365 will continue to further develop and scale the platform. The next customers joining the further development and scaling of LSEG’s DMI platform are the investment manager MembersCap and the digital asset exchange Archax, who were the first users to carry out a transaction on the platform. Further asset classes beyond private funds are planned for expansion.
[Image Credit: Edited by our platform Switzerland, based on an image by freepik]
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