Design Objective

DO-3 - Reduce access barriers (flexible issuance sizes and secondary market support)

The prototype should allow issuances of all sizes, reducing the barrier to consider bond issuances as a natural financing alternative, and should also support trading in secondary markets, not restricted by business hours or geographics.

Overview

Producer metadata and the represented concept document.

Concept identity

design-knowledge/bond-markets-tokenization-tac-do3

Open concept record

Producer label: DO-3
Source paper: Designing the future of bond markets: Reducing transaction costs through tokenization
Timestamp: 2026-08-05T00:00:00+00:00
Bundle path: design-knowledge/bond-markets-tokenization-tac-do3.md

bond-markets-tokenization-tacdesign-objectivefinance-bondssecuritiestokenizationtransaction-costs

Design objective DO-3: Reduce access barriers (flexible issuance sizes and secondary market support)

The prototype should allow issuances of all sizes, reducing the barrier to consider bond issuances as a natural financing alternative, by addressing a larger group of investors. To further reduce utility thresholds, trading bonds should also be possible in secondary market options and not be restricted by business hours or geographics. Thus, asset specificity can be reduced, and subsequently, efficiency in the market increased.

Source paper

This design objective is proposed by Designing the future of bond markets: Reducing transaction costs through tokenization (David Cisar, Benjamin Schellinger, Jens-Christian Stoetzer, Vincent Gramlich, Tobias Guggenberger, Nils Urbach, Florian Lennart Weiss, 2025).

Addresses

Linked concepts

Concepts connected by incoming or outgoing native Markdown links.

1 Design Principle

design-knowledge/bond-markets-tokenization-tac-dp2

DP2 - Exploit multi-token standards

Use multi-token standards (e.g., ERC-1155) when issuing multiple security tokens sharing comparable characteristics, to conserve blockchain storage and simplify architecture.

bond-markets-tokenization-tacdesign-principlefinance-bondssecurities+2

2 Meta Requirements

design-knowledge/bond-markets-tokenization-tac-mr5

MR-5 - Reduce market barriers

The denomination of a bond issuance usually starts at 1000 euros to be economically feasible, excluding some groups of investors from investing in bonds; trade processing is also restricted to business days. The prototype shall reduce market barriers for all participants.

bond-markets-tokenization-tacfinance-bondsmeta-requirementsecurities+2

design-knowledge/bond-markets-tokenization-tac-mr6

MR-6 - Provision of secondary markets

Bonds are usually traded on OTC markets rather than on exchanges, as most bondholders are institutional investors, and secondary markets for trading bonds remain insufficient. The prototype shall provide sufficient secondary markets.

bond-markets-tokenization-tacfinance-bondsmeta-requirementsecurities+2

1 Paper

papers/bond-markets-tokenization-tac

Designing the future of bond markets: Reducing transaction costs through tokenization

Using a transaction-cost-theory lens, the paper identifies seven meta-requirements and derives five design objectives for an Ethereum-based bond prototype, from which it formulates five design principles for blockchain-based bond markets: apply modular design, exploit multi-token standards, automate on-chain payouts, restrict forced-transfer functions to regulators, and implement smart-contract-based crypto securities registers.

blockchainbond-markets-tokenization-tacdesign-science-researchfinance-bonds+3

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5 of 5 concepts · 11 directed relationships

Concept types

Design ObjectiveSeed

Reduce access barriers (flexible issuance sizes and secondary market support)

Concept identity

Concept ID: design-knowledge/bond-markets-tokenization-tac-do3
Producer label: DO-3
Native type: design-objective

Description

DOI

https://doi.org/10.1007/s12525-025-00753-3

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The complete producer frontmatter, serialized without server paths or runtime data.

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{
  "type": "design-objective",
  "title": "DO-3 - Reduce access barriers (flexible issuance sizes and secondary market support)",
  "description": "The prototype should allow issuances of all sizes, reducing the barrier to consider bond issuances as a natural financing alternative, and should also support trading in secondary markets, not restricted by business hours or geographics.",
  "resource": "https://doi.org/10.1007/s12525-025-00753-3",
  "source_paper": "Designing the future of bond markets: Reducing transaction costs through tokenization",
  "label": "DO-3",
  "tags": [
    "bond-markets-tokenization-tac",
    "design-objective",
    "finance-bonds",
    "tokenization",
    "transaction-costs",
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  ]
}

Design Objective

DO-3 - Reduce access barriers (flexible issuance sizes and secondary market support)

Overview

Producer metadata and the represented concept document.

Concept identity

design-knowledge/bond-markets-tokenization-tac-do3

Open concept record

Producer label: DO-3
Source paper: Designing the future of bond markets: Reducing transaction costs through tokenization
Timestamp: 2026-08-05T00:00:00+00:00
Bundle path: design-knowledge/bond-markets-tokenization-tac-do3.md

bond-markets-tokenization-tacdesign-objectivefinance-bondssecuritiestokenizationtransaction-costs

Design objective DO-3: Reduce access barriers (flexible issuance sizes and secondary market support)

Source paper

Addresses

Linked concepts

Concepts connected by incoming or outgoing native Markdown links.

1 Design Principle

design-knowledge/bond-markets-tokenization-tac-dp2

DP2 - Exploit multi-token standards

Use multi-token standards (e.g., ERC-1155) when issuing multiple security tokens sharing comparable characteristics, to conserve blockchain storage and simplify architecture.

bond-markets-tokenization-tacdesign-principlefinance-bondssecurities+2

Designing the future of bond markets: Reducing transaction costs through tokenization

blockchainbond-markets-tokenization-tacdesign-science-researchfinance-bonds+3

Relationships

Directed links from Markdown. Heading context is displayed as derived metadata, not as a formal OKF predicate.

Outgoing links

Incoming backlinks

Local graph

One-hop by default, with an optional bounded two-hop view. Nodes are concept files and arrows are Markdown links.

Knowledge graph

5 of 5 concepts · 11 directed relationships

Concept types

Design ObjectiveSeed

Reduce access barriers (flexible issuance sizes and secondary market support)

Concept identity

Concept ID: design-knowledge/bond-markets-tokenization-tac-do3
Producer label: DO-3
Native type: design-objective

Description

DOI

https://doi.org/10.1007/s12525-025-00753-3

Raw metadata

The complete producer frontmatter, serialized without server paths or runtime data.

Show producer frontmatter

{
  "type": "design-objective",
  "title": "DO-3 - Reduce access barriers (flexible issuance sizes and secondary market support)",
  "description": "The prototype should allow issuances of all sizes, reducing the barrier to consider bond issuances as a natural financing alternative, and should also support trading in secondary markets, not restricted by business hours or geographics.",
  "resource": "https://doi.org/10.1007/s12525-025-00753-3",
  "source_paper": "Designing the future of bond markets: Reducing transaction costs through tokenization",
  "label": "DO-3",
  "tags": [
    "bond-markets-tokenization-tac",
    "design-objective",
    "finance-bonds",
    "tokenization",
    "transaction-costs",
    "securities"
  ]
}