HQLAx DLT platform brokers securities lending exceeding €1 billion

The DLT (distributed ledger technology) HQLAx platform has recently launched proxy securities lending services, with outstanding balances reaching €1 billion. BNY Mellon, Goldman Sachs, and HSBC were the initial participating banks. The platform launched its core securities lending service in 2019, initially targeting interbank collateral exchanges, and began piloting proxy trading two years ago, now expanding to asset management companies. Through cooperation with third-party agents and custodians, HQLAx achieves collateral in situ retention and delivery versus delivery (DvD) settlement on the same day. Amar Amlani of Goldman Sachs stated that the application of HQLAx's DLT solution is expanding, bringing practical benefits such as accurate collateral movement. In addition, HSBC led HQLAx's Series C financing, with participants including BNP Paribas, BNY Mellon, Citi, Deutsche Börse, Goldman Sachs, and JP Morgan.