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06 June 2024
Luxembourg
Reporter Isabel Gonzalez

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HQLAX DLT platform exceeds €1 billion on DvD securities lending transactions

HQLAX has announced that BNY Mellon, Goldman Sachs, and HSBC, have surpassed the €1 billion notional milestone in outstanding agency securities lending delivery vs delivery (DvD) transactions using the HQLAX DLT platform.

As part of this balance, HQLAX also developed Digital Collateral Records (DCRs) to enable the simultaneous exchange of ownership for Loan ISINs and Triparty collateral on a delivery versus delivery basis.

HQLAX says the DCRs allow borrowers and lenders to transfer ownership of securities via the HQLAX distributed ledger, without the need for further market settlement.

Amar Amlani, head of EMEA digital assets at Goldman Sachs, comments: “Having been early adopters of HQLAX DLT-based solution, it's fantastic to see the transition into the scaling phase of activity where previously theoretical benefits such as the precise, simultaneous movement of collateral now being demonstrated in size on a BAU basis.”

Guido Stroemer, CEO of HQLAX, adds: “Going live with our agency, securities lending
DvD functionality is a huge milestone for our platform and a transformational market
development for the broader securities lending industry.”

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Gabriele Frediani, Absolute Collateral

Justin Lawson, Securities 鶹ӰӴý Times publisher speaks with Gabriele Frediani about the launch of Absolute Collateral

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