Primary issue + servicing
Run SG-first tokenized asset programs with issuer admission, program terms, investor qualification, funded allocation, DvP settlement, authoritative register confirmation, and servicing evidence on one governed workflow.
Overview
Tokenized asset issuance and servicing stay aligned across issuer authority, funded allocation, register confirmation, and holder evidence.
For tokenized notes, private shares, funds, or sukuk that need issuer authority, investor gating, funded allocation, authoritative register state, and servicing on one governed record.
Route coverage
- Issuer admission to servicing close pack
- Program terms, appointed roles, and investor qualification
- Funding confirmation, DvP allocation, and authoritative register continuity
- Distribution, redemption, exception handling, and evidence close
Infrastructure
- Appointed roles and issuer authority stay explicit
- Program terms, authoritative register continuity, and custody or mirror-state evidence
- Partner-mounted cash-leg, distribution, registrar, and custody adapters
- Optional Shariah governance support where the structure and jurisdiction require it
- Shared servicing, reconciliation, and exception-evidence spine
Lifecycle stages
| Stage | Flow steps | Notes |
|---|---|---|
| Program Setup | Verify issuer/SPV authority and the offering perimeter; Bind appointed roles, register namespace, and servicing calendar; Publish the program-terms snapshot and restriction basis; Hold the book closed until issuer approvals are complete | SG path is live; MY path remains conditional until the tokenized-CMP route is finalised. |
| Qualification Subscription | Screen the roster against investor-type, allowlist, and AML/CFT policy; Capture subscription orders and linked funding references; Apply oversubscription and scale-allocation rules; Lock the funded allocation queue for issuance approval | Qualification must end in a funded and reviewable allocation queue, not just a soft order book. |
| Issue Allocate Register | Approve issuance against the funded allocation memo; Match cash and position release under the selected settlement model; Confirm holder positions on the authoritative register; Preserve wallet or custody confirmation as a separate fact from register authority | Legal register confirmation and delivery evidence must never collapse into one generic status. |
| Service Redeem Reconcile | Lock the record date and servicing calculation basis; Publish the entitlement state and notice pack; Execute coupon, profit, or redemption instructions through the appointed roles; Close breaks, exceptions, and evidence packaging on one reconciliation record | Servicing is not complete until entitlement, payment, and close-pack evidence agree. |
Setup reference
| Field | Explanation | Related terms |
|---|---|---|
| Issue size | Sets the issuance amount carried through qualification, allocation, registry binding, and servicing. Determines the values shown across the workflow records. | |
| Programme type | Supports more than one programme type. Controls the terms and servicing path. | Tokenized asset |
| Investor perimeter | Sets who the issue is open to. Controls who can be cleared and allocated. | |
| Holding model | Supports more than one holding model. Controls how positions are recorded after issue. | |
| Servicing focus | Supports more than one servicing path. Controls which downstream event the workflow follows. |