Rabobank and Ubermorgen collaborate with TreasurySpring


Wednesday, Feb, 28, 2024

Rabobank successfully completes pre-production trial runs in commercial paper issuance and trading blockchain platform

London, 28 February, 2024 – Rabobank, a leading global Money Market Dealer, has completed a series of ground-breaking pilots to execute more than €2 billion in commercial paper transactions on a first-of-its kind blockchain platform.

The platform, Ubermorgen, gives financial market participants instant access to funds through the automated issuance of commercial paper and certificates of deposit, highlighting the potential of blockchain technology for real-time settlement and enhanced real-time money market analytics.

The pre-production pilot programme, which is an industry-driven joint initiative, also underscores the adaptability and interoperability of blockchain in traditional financial instruments, connected to multiple legacy infrastructures. In addition, Ubermorgen showcases the power of real-time settlement, providing an unprecedented level of efficiency and transparency in the issuance and trading processes. This advancement promises to revolutionise the current settlement landscape and intra-day liquidity management. In the recent trial-run, Rabobank Markets and Ubermorgen collaborated with Rabobank Treasury, TreasurySpring and two large asset managers, executing multiple commercial paper and time deposits in EUR, USD and GBP with a total notional of over two billion. Their active participation and endorsement signify the industry-wide recognition of the potential benefits of blockchain in the money markets.

The pilot also integrated cutting-edge analytics tools, providing market participants with real-time insights into money market trends. This data-driven approach enhances decision-making capabilities for treasurers, dealers and asset managers, offering a competitive edge in navigating the dynamic financial landscape. Youssef el Mir, Global Head of Trading at Rabobank, said: “We are proud to have achieved this milestone in collaboration with esteemed global asset managers. This successful pilot demonstrates the transformative potential of blockchain in enhancing efficiency, transparency, and analytics in the financial sector.”

Steve Patrick, Chief Operating Officer at Ubermorgen, added: “Ensuring smooth interoperability between Distributed Ledger Technology (DLT) and established financial infrastructures is vital for a seamless shift toward the widespread adoption of DLT platforms in the market. We are delighted to collaborate closely with industry leaders in the financial markets to contribute to establishing the Ubermorgen real-time markets and A.I driven analytics platform as an industry-standard solution.”

Henry Adams, Chief Product Officer at TreasurySpring, added: “We are delighted to have worked with the high-calibre teams at Ubermorgen and Rabobank participating in this, the second round of pilots. The move to T0 and instantaneous settlement represents a significant milestone in the development of capital markets along with reducing credit risk in the financial system. TreasurySpring looks forward to now going live and contributing to the broader adoption of these technologies. There is immediate value in particular to several regulated sectors within our client base where day count is critical that we look forward to capturing on their behalf.”

Jacek Wieclawski, Head of Innovation at Rabobank, added: “The hybrid approach, global and instant interoperability is the future of finance. Our clients have shared their enthusiasm about this new solution, which blends the best of both worlds – the speed and flexibility of a distributed ledger technology and the reliability and compliance of a centralised system.”

Building on the success of this pre-production pilot, Rabobank and Ubermorgen are committed to further exploration and implementation of blockchain technology in financial markets. The company aims to collaborate with industry stakeholders to drive widespread adoption and unlock new opportunities for innovation in the global financial landscape.




Nick Martin / nmartin@treasuryspring.com


About Rabobank
Rabobank is an international financial services provider operating on the basis of cooperative principles. It offers retail banking, wholesale banking, private banking, leasing and real estate services. As a cooperative bank, Rabobank puts customers’ interests first in its services. Rabobank is committed to being a leading customer focused cooperative bank in the Netherlands and a leading food and agri bank worldwide. Rabobank employed 48,000 FTE per 30 June 2023. Rabobank Group is active in 37 countries.

For more information about the Rabobank Group go to www.rabobank.com.


About Ubermorgen
Ubermorgen is known for creating reliable software solutions customised for enterprise customers in the financial markets domain. Ubermorgen has focused on projects related to Distributed Ledger Technology (DLT since it started, leading to the launch of the Ubermorgen Money Markets platform. Their main vision is to keep improving and growing this platform. In this way, Ubermorgen hopes to create efficiencies and increase value in financial markets, demonstrating their dedication to innovation and using advanced technologies to enhance industry processes. www.ubermorgen.co.uk


About TreasurySpring
Founded in 2017, TreasurySpring is a ground-breaking platform revolutionising institutional term cash investment. TreasurySpring makes it easy for companies from FTSE 100 corporations and leading multinationals to series A start-ups and scale-ups to access a simple and secure platform for their cash which delivers higher returns, reduces risk, and enables diversification. Over the past six years, TreasurySpring has built the underlying infrastructure which enables companies through a single digital onboarding to quickly place their excess cash in over 1,000 regulated and standardised products across seven different currencies.” www.treasuryspring.com



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