Deutsche Borse expands partnership with HQLAx
28 August 2018 Frankfurt
Image: Shutterstock
Deutsche Borse Group has expanded its partnership with HQLAx by acquiring a minority stake.
The group has made an initial investment of a single-digit euro million amount in HQLAx in exchange for a minority shareholding.
As part of the investment, Deutsche Borse Group will also obtain two board seats at HQLAx, represented by Philippe Seyll and Jens Hachmeister.
Seyll is in charge of the group’s global securities financing business, while Hachmeister is responsible for the development of blockchain initiatives across the group.
The expansion of this partnership further strengthens the company’s ties with HQLAx, and aims to increase market efficiency by leveraging innovative technologies in a collaborative way.
In March this year, Deutsche Borse Group and HQLAx announced that they would build a securities lending solution leveraging the R3 Corda platform.
Over the last five months, the on-boarding process with an initial set of banks has been launched, and detailed discussions with the relevant regulatory authorities have taken place, Deutsche Borse Group revealed.
Seyll, co-CEO of Clearstream Banking, said: “This collaboration will enable us to create a true blockchain-based solution in the post-trade arena.”
“Together with like-minded partners such as HQLAx we want to create a standardised lending marketplace.”
He added: “It will allow market participants to redistribute collateral liquidity more efficiently by improving interoperability for pools of securities residing in multiple, disparate settlement systems and locations.”
Hachmeister, managing director of Deutsche Borse Group, commented: “We are thrilled to announce the investment in HQLAx, thereby bringing this collaboration further forward.”
“This is a strong value-added and complementary to other initiatives that we are developing in the blockchain and new technologies space across the entire value chain of our market infrastructure.”
Guido Stroemer, CEO of HQLAx, added: “This investment represents a major milestone for HQLAx, and it is another example of Deutsche Borse Group’s strong commitment to our platform. We look forward to our journey into production.”
The group has made an initial investment of a single-digit euro million amount in HQLAx in exchange for a minority shareholding.
As part of the investment, Deutsche Borse Group will also obtain two board seats at HQLAx, represented by Philippe Seyll and Jens Hachmeister.
Seyll is in charge of the group’s global securities financing business, while Hachmeister is responsible for the development of blockchain initiatives across the group.
The expansion of this partnership further strengthens the company’s ties with HQLAx, and aims to increase market efficiency by leveraging innovative technologies in a collaborative way.
In March this year, Deutsche Borse Group and HQLAx announced that they would build a securities lending solution leveraging the R3 Corda platform.
Over the last five months, the on-boarding process with an initial set of banks has been launched, and detailed discussions with the relevant regulatory authorities have taken place, Deutsche Borse Group revealed.
Seyll, co-CEO of Clearstream Banking, said: “This collaboration will enable us to create a true blockchain-based solution in the post-trade arena.”
“Together with like-minded partners such as HQLAx we want to create a standardised lending marketplace.”
He added: “It will allow market participants to redistribute collateral liquidity more efficiently by improving interoperability for pools of securities residing in multiple, disparate settlement systems and locations.”
Hachmeister, managing director of Deutsche Borse Group, commented: “We are thrilled to announce the investment in HQLAx, thereby bringing this collaboration further forward.”
“This is a strong value-added and complementary to other initiatives that we are developing in the blockchain and new technologies space across the entire value chain of our market infrastructure.”
Guido Stroemer, CEO of HQLAx, added: “This investment represents a major milestone for HQLAx, and it is another example of Deutsche Borse Group’s strong commitment to our platform. We look forward to our journey into production.”
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