Eurex Clearing has launched a DLT-enabled collateral mobilisation service in collaboration with HQLAX and Clearstream, aiming to simplify the collateral management process.
Using DLT collateral management solutions provider HQLAX’s digital ledger, the service allows clients to instantly access security collateral assets via custodians and central securities depositories (CSDs). These assets are then transferred to Clearstream and deposited as margin collateral at Eurex Clearing.
This service will streamline the process, Eurex says, and demonstrates how DLT can be a modernising force for financial market infrastructure.
The first transaction on the platform was executed by JP Morgan for Dutch pension fund investor PGGM. The bank mobilised securities to Clearstream Banking from another custody location to use as margin collateral at Eurex Clearing.
Anja Kleefsman, head of treasury and liquidity management at PGGM, commented, “Optimising our collateral management is a key priority and an element that plays an important role here is the ease of moving collateral. Instant access to and mobilisation of collateral assets provided by this DLT-based technology is a major step forward and we welcome this innovation.
“We’re looking forward to the industry’s further adoption of this solution and leveraging its benefits.”
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