Summary
- OCID:
- ocds-h6vhtk-0672ca
- Published by:
- HM Treasury
- Authority ID:
- AA21737
- Publication date:
- 25 March 2026
- Deadline date:
- 31 March 2026
- Notice type:
- UK4
- Has documents:
- No
- Has SPD:
- No
- Has Carbon Reduction Plan:
- N/A
Abstract
HM Treasury (the Authority) is procuring for the lead manager services to support the issuance of the Digital Gilt Instrument (DIGIT). The Authority is working closely with the UK Debt Management Office in delivering this procurement process. This procurement follows the appointment of HSBC as the Distributed Ledger Technology (DLT) supplier for the DIGIT pilot in February 2026. DIGIT will be an entirely new, digitally native, UK Government debt instrument, issued onto HSBC's Orion platform. HSBC Orion will be operating within the Digital Securities Sandbox (DSS). With this pilot, the government is seeking to explore how DLT can be applied across the lifecycle of the debt issuance process and catalyse the development of DLT in UK financial markets.As part of the initial selection stage, interested suppliers are required to complete a qualification questionnaire and non-disclosure agreement, then submit to the Authority as instructed within the DIGIT Lead Manager Services - Expression of Interest document provided in this notice. Please submit your completed questionnaire and signed NDA via email to Digit@hmtreasury.gov.uk no later than noon UK time on 31 March 2026.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.
Full notice text
Scope
Procurement reference
HMT012
Procurement description
HM Treasury (the Authority) is procuring for the lead manager services to support the issuance of the Digital Gilt Instrument (DIGIT). The Authority is working closely with the UK Debt Management Office in delivering this procurement process. This procurement follows the appointment of HSBC as the Distributed Ledger Technology (DLT) supplier for the DIGIT pilot in February 2026. DIGIT will be an entirely new, digitally native, UK Government debt instrument, issued onto HSBC's Orion platform. HSBC Orion will be operating within the Digital Securities Sandbox (DSS).
With this pilot, the government is seeking to explore how DLT can be applied across the lifecycle of the debt issuance process and catalyse the development of DLT in UK financial markets.
As part of the initial selection stage, interested suppliers are required to complete a qualification questionnaire and non-disclosure agreement, then submit to the Authority as instructed within the DIGIT Lead Manager Services - Expression of Interest document provided in this notice.
Please submit your completed questionnaire and signed NDA via email to Digit@hmtreasury.gov.uk no later than noon UK time on 31 March 2026.
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.
Total value (estimated, excluding VAT)
0 GBP to 0GBP
Contract dates (estimated)
01 June 2026, 00:00AM to 31 May 2027, 23:59PM
Extension end date (if all the extensions are used): 31 May 2028
Contracting authority
HM Treasury
Identification register:
Address 1: 1 Horse Guards Rd
Town/City: London
Postcode: SW1A 2HQ
Country: United Kingdom
Public Procurement Organisation Number: PGJQ-4844-JJMM
NUTS code: UKI32
Email: Digit@hmtreasury.gov.uk
Organisation type: Public authority - central government
Procedure
Procedure type
Below threshold - open competition
Is the total value above threshold?
Below threshold
Lots
Divided into 1 lots
Lot number: 1 CPV classifications
- 66150000 - Financial markets administration services
Lot value (estimated)
0 GBP Excluding VAT
0 GBP Including VAT
Contract start date (estimated)
01 June 2026, 00:00AM
Contract end date (estimated)
31 May 2027, 23:59PM
Extension end date (estimated)
31 May 2028, 23:59PM
Can the contract be extended?
Yes
Description of extensions
To ensure completion of the project to enable the Pilot Digital Gilt Instrument (DIGIT) issuance.
Simple description of award criteria
The award criteria for this contract will be quality and cost.
Submission
Tender submission deadline
31 March 2026, 12:00PM
Enquiry deadline
27 March 2026, 17:00PM
Submission address and any special instructions
Expression of Interest responses to be submitted via email to digit@hmtreasury.gov.uk
May tenders be submitted electronically?
No
Documents
Document type
Bidding documents
Document type
Bidding documents
Coding
Commodity categories
| ID |
Title
|
Parent category
|
| 66150000 |
Financial markets administration services |
Banking and investment services |
Delivery locations
| ID |
Description
|
| 100 |
UK - All |
Alert region restrictions
The buyer has restricted the alert for this notice to suppliers based in the following regions.
| ID |
Description
|
|
There are no alert restrictions for this notice.
|
About the buyer
- Main contact:
- N/a
- Admin contact:
- N/a
- Technical contact:
- N/a
- Other contact:
- N/a
Further information
|
Date
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Details
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No further information has been uploaded.
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