Today HQLAX announced it raised a Series B funding round of €14.4 million ($17.5m) from BNY Mellon, Goldman Sachs, BNP Paribas Securities Services, Citigroup and Deutsche Börse Group.
Deutsche Börse Group is a partner in the collateral management solution and was an early major financial backer. The platform enables banks to trade High Quality Liquid Assets (HQLA), but speeds up the time-consuming settlement enabling intraday transaction settlement. Although custody of the asset remains with the original collateral agents, the change of ownership is registered on HQLAX‘s digital collateral registry.
“Deutsche Börse and HQLAᵡ have the same ambition: to enable financial institutions to mobilize their collateral and optimize their funding needs,” said Stephan Leithner, member of the Executive Board of Deutsche Börse and Clearstream Chairman.
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