🚀 HQLAᵡ Engages In Real Cash Settlement For ECB DLT Trial
#HQLA #DLT #ECB #repurchasetransaction #GoldmanSachs #Clearstream #liquiditysolution #digitalcollateral #cashsettlement
According to Odaily, HQLAᵡ has confirmed its involvement in an intraday repurchase transaction where Goldman Sachs borrowed cash from Clearstream in exchange for collateral held on the HQLAᵡ DLT platform. This transaction is part of the European Central Bank's (ECB) experiment with wholesale DLT settlement using central bank funds. In this instance, the cash component of the transaction utilized the German central bank's Trigger solution.
While HQLAᵡ has participated in several delivery versus payment (DvP) repurchase simulations, this marks the first transaction involving real cash settlement. HQLAᵡ serves as a collateral liquidity solution, where assets held by custodians are locked and digitized in the HQLAᵡ digital collateral registry. Legal agreements facilitate the immediate transfer of collateral using DLT, eliminating the need to wait for T+2 settlement. The platform conducted its first live transaction in 2018.#HQLA #DLT #ECB #repurchasetransaction #GoldmanSachs #Clearstream #liquiditysolution #digitalcollateral #cashsettlement
🚀 SIX Swiss Exchange Launches Digital Collateral Service
#SIXSwissExchange #DigitalCollateral #CryptoAssets #CollateralManagement #FinancialInstitutions #ETP #Bitcoin #Ethereum #Solana #Avalanche #Cardano #Ripple #USDC #CryptoTransactions #OperationalComplexity #RiskManagement #BTC #ETH #AVAX
According to PANews, the Swiss stock exchange group SIX has introduced a digital collateral service, enabling financial institutions to use crypto assets alongside traditional securities as collateral. As per the official press release, SIX operates one of Europe's largest triparty agents, offering collateral management solutions to financial institutions. This new service eliminates the need for separate platforms to manage crypto collateral, thereby reducing operational complexity and enhancing risk management. The system also provides additional protection in case of default.
The crypto collateral will primarily be used for crypto-related transactions, such as those conducted by exchange-traded product (ETP) issuers, institutional traders, and crypto exchanges. While the service allows for the use of bonds and Bitcoin as a combined collateral position, it is not applicable for repo transactions on the SIX exchange or as collateral for securities lending. Instead, it is designed to offer collateral solutions for OTC and bilateral crypto transactions. Initially, the service will support Bitcoin, Ethereum, Avalanche, Cardano, Solana, Ripple, and USDC, with plans to expand the asset selection based on customer demand.#SIXSwissExchange #DigitalCollateral #CryptoAssets #CollateralManagement #FinancialInstitutions #ETP #Bitcoin #Ethereum #Solana #Avalanche #Cardano #Ripple #USDC #CryptoTransactions #OperationalComplexity #RiskManagement #BTC #ETH #AVAX