HQLAX and Wematch announce collaboration to improve collateral mobility
13 September 2022 Luxembourg, UK
Image: AdobeStock/Ekaterina Siubarova
HQLAX and Wematch have entered into a collaboration agreement to improve collateral mobility in securities finance trading.
This will enable traders using Wematch’s trade execution platform that are also customers of HQLAX to input securities lending indications of interest (IoIs) on the Wematch platform, with settlement of the securities lending transaction confirmed on HQLAX.
This collaboration is currently in its design stage and is likely to go live in Q1 2023.
Wematch co-founder and head of EMEA David Raccat says: “The unlocking of collateral
mobility is the direction of travel of the securities finance industry and the contribution of HQLAX through the delivery-versus-delivery (DvD) model will accelerate this trend.
“The partnership with HQLAX matches our strong focus on operational risk and frictionless workflows and we are convinced our common clients will benefit from this enhanced connectivity.”
Guido Stroemer, co-founder and CEO of HQLAX, says, “We are proud to collaborate with partners like Wematch to leverage the power of distributed ledger technology (DLT) to accelerate collateral mobility across the global securities finance ecosystem.”
This will benefit firms that are currently users of the Wematch execution platform and also customers of HQLAX, which currently applies to 90 legal entities and roughly 900 traders.
HQLAX's ownership transfer platform enables users to transfer ownership of securities across multiple collateral pools at precise moments in time using a DLT-based platform.
Wematch’s solutions portfolio applies technology advances to traditionally voice-traded securities finance and derivatives markets, optimising matching of IoIs for total return swaps, securities lending and repo transactions, along with equity and interest rate derivatives.
This will enable traders using Wematch’s trade execution platform that are also customers of HQLAX to input securities lending indications of interest (IoIs) on the Wematch platform, with settlement of the securities lending transaction confirmed on HQLAX.
This collaboration is currently in its design stage and is likely to go live in Q1 2023.
Wematch co-founder and head of EMEA David Raccat says: “The unlocking of collateral
mobility is the direction of travel of the securities finance industry and the contribution of HQLAX through the delivery-versus-delivery (DvD) model will accelerate this trend.
“The partnership with HQLAX matches our strong focus on operational risk and frictionless workflows and we are convinced our common clients will benefit from this enhanced connectivity.”
Guido Stroemer, co-founder and CEO of HQLAX, says, “We are proud to collaborate with partners like Wematch to leverage the power of distributed ledger technology (DLT) to accelerate collateral mobility across the global securities finance ecosystem.”
This will benefit firms that are currently users of the Wematch execution platform and also customers of HQLAX, which currently applies to 90 legal entities and roughly 900 traders.
HQLAX's ownership transfer platform enables users to transfer ownership of securities across multiple collateral pools at precise moments in time using a DLT-based platform.
Wematch’s solutions portfolio applies technology advances to traditionally voice-traded securities finance and derivatives markets, optimising matching of IoIs for total return swaps, securities lending and repo transactions, along with equity and interest rate derivatives.
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