HQLAx confirmed its involvement in an intraday repo transaction during which Goldman borrowed cash from Clearstream in exchange for collateral held on the HQLAx DLT platform. The transaction was part of the European Central Bank's (ECB) trial of wholesale DLT settlement using central bank funds. In this case, the cash portion of the transaction used the Bundesbank's Trigger solution.
While HQLAx has participated in several delivery versus payment (DvP) repo simulations, this is the first transaction involving real cash settlement. HQLAx is a collateral liquidity solution. Assets held by custodians are locked and digitized. In the HQLAx digital collateral regedit, legal agreements allow collateral to be transferred immediately using DLT without having to wait for T + 2 settlement. It made its first real-time transaction in 2018.
Goldman Sachs, Clearstream, and HQLAx conduct real-time DLT intraday repo transactions
2024-12-08 07:01:17
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