Issuance Process Phase 2: Subscriptions management
- Once notified of the instrument creation, the Lead Manager starts the conversion of allocated IOIs into subscriptions (book execution);
- The Investors provide their crypto SSI to their respective dealers;
- The dealers enter crypto SSI into the Issuance Facility;
- The Lead Manager closes the issuance book, generating final subscriptions;
- Based on the crypto SSI provided, the Issuance Facility generates the settlement instructions and submits them to the Registrar, and submits the settlement instructions to the Registrar;
- The Registrar processes the settlement instructions (validity checks, etc.) and initiates the settlement transaction processing.