HQLAᵡ, the Luxembourg-based fintech provider, has secured EUR14.4m Series B funding from BNY Mellon, Goldman Sachs, BNP Paribas Securities Services, Citigroup and its existing shareholder, Deutsche Börse. The funding will be used to accelerate the core premise of the HQLAᵡ platform – helping the industry address European collateral fragmentation by extending its connectivity to leading triparty agents, custodians and market participants. In 2021 BNY Mellon will connect as both triparty agent and agent lender, Goldman Sachs as principal, BNP Paribas Securities Services as triparty agent, and Citibank as custodian. Leveraging R3’s distributed ledger technology, Corda Enterprise, the HQLAᵡ platform enables market participants to transfer ownership of securities seamlessly across disparate collateral pools at precise moments in time. This allows participants to optimise their liquidity management and collateral management activities.
