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Goldman Sachs, Clearstream and HQLAx conduct real-time DLT intraday repo trading

According to a report, HQLAx has confirmed its participation in an intraday repurchase transaction in which Goldman Sachs borrowed cash from Clearstream in exchange for collateral held on the HQLAx DLT platform. The transaction is part of the European Central Bank's (ECB) wholesale DLT settlement experiment using central bank funds. In this case, the cash portion of the transaction used the Trigger solution of the German central bank. Although HQLAx has participated in several Delivery versus Payment (DvP) repurchase 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 registry, and the legal agreement allows collateral to be transferred immediately using DLT, without waiting for T+2 settlement. Its first real-time transaction was conducted in 2018.

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