On October 2, the Bank of England (BoE) and the Financial Conduct Authority (FCA) launched the Digital Securities Sandbox (DSS), allowing companies to explore how to use digital ledger technology (DLT) for notarization, maintenance and settlement of financial securities. The FCA recognizes that developing technology has the potential to bring efficiency, transparency and resilience to the market. The regulator said that if these technologies are successfully implemented, they may make the process cheaper and faster, thereby "saving costs between the market and users." It emphasized that DSS will promote the trading, settlement and issuance of digital securities in the UK. This will be done on programmable and distributed ledgers while complying with the regulations of the Bank of England and the FCA. The FCA added that this move will strengthen the UK's position as a global financial center and it will create the right conditions for investment and sustainable growth.