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

Global Securities Finance News and Commentary.
≔ Menu
Securites Lending Times logo
Leading the Way,

Global Securities Finance News and Commentary.
News by section
Subscribe
⨂ Close
  1. Home
  2. Repo news
  3. Fnality and HQLAX complete cross-chain intraday repo settlement testing
Repo news

Fnality and HQLAX complete cross-chain intraday repo settlement testing


18 June 2024 UK
Reporter: Jack McRae

Generic business image for news article
Image: stock.adobe.com/MarutStudio
Fnality and HQLAX have completed the initial end-to-end testing of cross-chain intraday repo settlement.

The testing follows the firms' first proof of concept delivery versus payment repo settlement in Q4 2022.

The PoC was the first cross-chain repo swap pilot across R3’s Corda platform and Enterprise Ethereum. According to the two firms, it set the foundations for the "rapid settlement" of intraday transactions.

The firms claim that this “testing paves the way for the precise control and easy mobility of liquidity and collateral, ensuring the clearing of wholesale payments in minutes with unprecedented visibility and control”.

They continue to add that the success of the tests will enable the ability to settle at a precise moment in time.

Simone Cortese, director of Product Management at Fnality International, says: “[This] showcases a complete end-to-end process: from a trade originating in Eurex to the transaction settling seamlessly and atomically across FnPS and HQLAX in mere seconds.

“As we stand on the cusp of our first ‘real’ live transaction, we are poised to unlock groundbreaking opportunities within the intraday finance sector.”

Guido Stroemer, CEO at HQLAX, adds: “Interoperability across DLT platforms is a core functional requirement for a robust DLT ecosystem for capital markets, which is why we are so pleased with our successful collaboration with Fnality on this transformative DvP use case.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
Advertisement
Subscribe today
Knowledge base

Companies in this article
→ HQLAX

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

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

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →