NEWS
NEWS
Federal State of Saxony-Anhalt issues inaugural digital commercial paper
In a landmark transaction , the Federal State of Saxony-Anhalt has issued a € 50 million digital commercial paper in the form of dematerialised electronic securities in accordance with the German Electronic Securities Act . NatWest Markets Europe acted as Sole Lead Manager on the transaction , selling the Notes to DekaBank .
This marks the first time a Bundesland has issued a digital security and the first time a commercial paper from a German public authority has been issued and settled via the Deutsche Bundesbank Trigger Solution . The Trigger Solution connects Distributed Ledger Technology ( DLT ) platforms with existing Eurozone payment systems , making transactions faster and more secure .
The issuance was part of a European Central Bank trial to settle wholesale financial transactions recorded on DLT platforms in central bank money . The Notes were issued by means of a registration in Deutsche Börse ’ s D7 platform , together with Clearstream Banking Frankfurt acting as the registrar and transaction manager .
Vincent Goedegebuure , Chief Executive of NatWest Markets N . V ., said : “ We are delighted to have supported the Federal State of Saxony-Anhalt on this milestone for public sector issuers in Germany . This transaction underscores NatWest ’ s role as a trusted partner in supporting our customers . Central bank money provides the highest security in settlement of digital assets and we welcome the progressive approach the ECB and the participating national central banks have taken with the trials .’’
New CFA Institute survey reveals industry-wide need for standards and education on AI and GenAI in investing
CFA Institute , the global association of investment professionals , has released new survey data on the views of investment industry employers concerning the responsible and ethical use of Artificial Intelligence ( AI ) in the investment sector . The survey canvassed the views of investment industry professionals including investment managers and human resources professionals .
Margaret Franklin , CFA , President and CEO , CFA Institute , comments : “ Increasing accessibility to large language models is rapidly adding to the pace of the AI-led revolution of the investment industry . Many leading organisations have expertise with these tools , but industry-wide we see an unsettled picture . Employers tell us they need best practices , guardrails and standardised policies to help their teams move safely into the new AI plus human intelligence ( HI ) era . Further , the absence of standards and concerns around data privacy may be slowing down AI adoption .”
The survey found widespread agreement on the need for standards for the use of AI and that the absence of standards is preventing faster industry adoption of the technologies . The survey results also identify a need for workforce upskilling in the responsible use of AI and Generative AI tools . Respondents cited notable levels of organisational unpreparedness and workforce anxiety about the technologies .
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