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.
