Meta Requirement

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.

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

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Producer label: MR-5
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-mr5.md

bond-markets-tokenization-tacfinance-bondsmeta-requirementsecuritiestokenizationtransaction-costs

Meta-requirement 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. Also, the actual processing of trades is restricted to business days due to the availability of third-party services, such as central counterparties, posing another utility threshold. The prototype shall reduce market barriers for all participants.

Source paper

This meta-requirement 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).

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1 Design Objective

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

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.

bond-markets-tokenization-tacdesign-objectivefinance-bondssecurities+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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Designing the future of bond markets: Reducing transaction costs through tokenization
Paper
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MR-5 - Reduce market barriers
Target
Designing the future of bond markets: Reducing transaction costs through tokenization
Link label
Designing the future of bond markets: Reducing transaction costs through tokenization
Status
Resolved
Derived heading context: Source paper

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{
  "type": "meta-requirement",
  "title": "MR-5 - Reduce market barriers",
  "description": "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.",
  "resource": "https://doi.org/10.1007/s12525-025-00753-3",
  "source_paper": "Designing the future of bond markets: Reducing transaction costs through tokenization",
  "label": "MR-5",
  "tags": [
    "bond-markets-tokenization-tac",
    "meta-requirement",
    "finance-bonds",
    "tokenization",
    "transaction-costs",
    "securities"
  ]
}