促进资本市场发展

Core Viewpoint - The article discusses the launch of the Digital Market Infrastructure (DMI) by the London Stock Exchange Group (LSEG) in collaboration with Microsoft, aimed at enhancing the efficiency and interoperability of global capital markets through Distributed Ledger Technology (DLT) [2][9]. Group 1: DMI Overview - DMI is designed to provide a trusted, scalable, and interoperable financial infrastructure, enhancing the efficiency of the entire asset lifecycle from issuance to post-trade services across various asset classes [2][6]. - The core principles of DMI are interoperability and scalability, enabling seamless integration with existing traditional financial systems while promoting innovation [2][4]. - DMI aims to support any asset class and geographic region, with a strategic initial focus on private markets, particularly private equity and private credit funds [6][7]. Group 2: Benefits of DLT - DLT offers significant advantages in addressing real challenges in capital markets, such as reducing settlement friction and counterparty risk while ensuring data integrity and auditability [3][4]. - The technology is positioned as a solution to existing problems rather than a search for problems, emphasizing an open collaboration approach with clients [3][4]. Group 3: Market Needs and Features - DMI will meet key needs of General Partners (GPs) and Limited Partners (LPs) by operating alongside existing private securities markets while leveraging DLT for primary market transactions [7][8]. - Enhanced distribution capabilities will allow GPs to access a wide range of LP resources, facilitating the discovery of private fund opportunities [8]. - DMI will provide a secure environment for LPs to trade fund shares, improving liquidity and confidence between GPs and LPs [8]. Group 4: Future Potential and Collaboration - The design of DMI is intended for cross-asset class expansion and adaptability to evolving industry demands, with future integration of artificial intelligence to optimize trading and service processes [10]. - The collaboration between LSEG and Microsoft combines market expertise with technological leadership to support the development of next-generation digital financial infrastructure [9][10]. - The article emphasizes the importance of collaboration among market stakeholders to shape the future of digital and private markets [10].