Intraday repo transactions conducted live on a distributed ledger technology (DLT) platform involving Goldman Sachs, Clearstream, and HQLAχ.

In a significant development, HQLAχ, a digital ledger technology (DLT) platform, has successfully completed its first real cash settlement transaction on its platform. The transaction, which was part of the European Central Bank's (ECB) wholesale DLT settlement trials, involved Goldman Sachs and marked a milestone in the adoption of DLT for real-time settlement of repo transactions.

The transaction, a delivery versus payment (DvP) repo simulation, was conducted between HQLAχ and Goldman Sachs on the HQLAχ DLT platform. Goldman Sachs borrowed cash from Clearstream, with the cash leg of the transaction utilizing the Bundesbank's Trigger solution for real-time transfer.

The collateral for the transaction was held on the HQLAχ DLT platform, ensuring secure and efficient management of the assets. The transaction was a testament to the potential of DLT in streamlining financial transactions, particularly intraday repo transactions.

The transaction was one of the ECB's experiments with DLT, aiming to explore the technology's capabilities in the wholesale settlement of central bank money. The involvement of central bank money in the transaction underscores the ECB's commitment to exploring and adopting innovative technologies for enhancing the efficiency of financial transactions.

Clearstream, an institution known for its expertise in securities settlement, was the institution involved in the real money transfer related to the repo transaction with HQLAχ and Goldman Sachs.

This exclusive content is available only to Pro subscribers, offering a unique insight into the evolving landscape of financial technology and the role of DLT in shaping the future of financial transactions. The successful completion of this transaction by HQLAχ and Goldman Sachs marks a significant step forward in the adoption of DLT for real-time settlement of financial transactions.

Intraday repo transactions conducted live on a distributed ledger technology (DLT) platform involving Goldman Sachs, Clearstream, and HQLAχ.