HQLAX is an innovative financial technology firm that leverages Distributed Ledger Technology (DLT) to bring game-changing efficiencies to the securities finance and repo industry. Our core clients are banks and asset managers active in the global securities finance and repo markets, and our unique platform enables market participants to execute frictionless, precise and real-time transfer of ownership of securities.
Country of incorporation: Luxembourg
Year of incorporation: 2018


Elevator Pitch

Built by the market for the market.

HQLAX  was founded by financial market practitioners in search of a solution.

We were born out of first-hand experience of the frustrations and pain-points deriving from inefficient collateral mobility.

HQLAX  has been developed in partnership with Tier 1 organisations. Global Custodians and Triparty Agents including: Bank of New York Mellon, BNP Securities Services, Citibank, Clearstream, Euroclear, and J.P. Morgan.

Problem Solved

Cross-custody movements of inventory consume precious intraday liquidity and create settlement risks, at a significant cost to the market participant.


  • HQLAX makes the transfer of ownership of securities seamless and easy across disparate collateral pools – by removing the cross-custody movement of ISIN’s.
  • HQLAX platform is fully integrated with the existing marketing infrastructure.
  • As a result, HQLAX enables frictionless transactions that are much more efficient and streamlined, eradicating data discrepancies, reducing back-office activities, and minimising operational risk and settlement failure.


  • Ownership transfer of collateral happens without an underlying supplement move at the custodian or the central securities depository (CSD) layer.
  • By decoupling ownership transfer from movement of assets, exchange can take place simultaneously, in real-time and when required – without the need to actually move the security physically.


  • Historically, trade collateral had a date on which it was due to settle.
  • But by using HQLAX, firms can specify the exact point in time the collateral should be
  • Which means HQLAX can get the right collateral to the right place at the right time.

Solution / Technology

HQLAX proprietary platform is unique in coupling the benefits of DLT with existing triparty and custody infrastructure, making it easy for clients to improve their collateral mobility and avoid costly intraday liquidity.

HQLAX can be applied to several different collateral obligation types, including: collateral upgrade/downgrades, managing intercompany exposures, posting variation margining for OTC derivatives, and repo transactions.


HQLAX competitive Advantages

Market Size

Collateral Obligations total €24 trillion (Q4 2022)

– €18 trillion of collateral is moved bilaterally

– €6 trillion moved via triparty

Mostly to satisfy repo, securities lending and derivatives initial margin collateral obligations. The overwhelming majority (80%) are for repo.

Relevant Links



White Paper

The AI Revolution In Financial Services

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