Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
≔ Menu
Securites Lending Times logo
Leading the Way

Global Asset Servicing News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Industry news
  3. HQLAx receives funding from J.P Morgan
Industry news

HQLAx receives funding from J.P Morgan


22 June 2021 Luxembourg
Reporter: Maddie Saghir

Generic business image for news article
Image: BillionPhotos.com/adobe.stock.com
J.P. Morgan has become a strategic investor in the Series B funding round for distributed ledger technology (DLT)-powered securities finance platform provider HQLAx.

The funding will be used for accelerating market adoption of the HQLAx platform by expanding product scope and functionality, while further extending connectivity to the industry.

In January, HQLAx closed a €14.4 million strategic investment round led by BNY Mellon, Goldman Sachs, BNP Paribas Securities Services and Citigroup, with additional participation from longtime strategic partner Deutsche Boerse.

J.P. Morgan has already connected to the HQLAx platform as triparty agent, and J.P. Morgan will also connect its agency securities lending business next year.

HQLAx’s core clients are financial institutions active in securities lending and collateral management. Its platform enables market participants to transfer ownership of securities across disparate collateral pools at precise moments in time.

This allows participants to optimise their liquidity management and collateral management activities, thereby generating operational efficiency gains and capital cost savings, HQLAx explains.

Guido Stroemer, chairman and CEO of HQLAx, says: “J.P. Morgan’s strategic investment in our company and its commitment to connect to our platform speak volumes towards validating our shared vision to accelerate collateral mobility across the global securities finance ecosystem.”

Ben Challice, head of trading services at J.P. Morgan, adds: “We’re happy to support HQLAx as they continue to grow the collateral management blockchain ecosystem.”

J.P. Morgan declined to disclose the size of the investment.
Next industry article →

AcadiaSoft rebrands to Acadia
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →
Glossary terms in this article
→ Collateral
→ Liquidity

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →