Eurex Clearing, one of the world’s leading clearing houses and part of the Deutsche Börse Group, launched the innovative DLT mobilization service.
In a first landmark transaction, JP Morgan mobilized the safety of mobile values for its customer, the Dutch investor of the PGGM pension fund, from another custody position at ClearsStream Banking SA for use as a scope for securing Eurex Clearing. The underlying technology is provided by HQLAX, a leading DLT solutions provider for security management.
This innovative solution has the ability to significantly enhance the side mobility, allowing customers to effectively manage the needs of the seats in today’s dynamic markets. Based on HQLAX’s digital book, the Service provides immediate access to security assets through custodians and Central Mobile Values (CSD reserves). Security then moves to ClearsStream and is deposited by EUREX clearing as a margin securing, rationalizing the entire process.
This service, which received BAFIN regulatory non -objection, represents a key milestone in Eurex Clearing’s collateral management strategy and its broader ambitions in digital services. As a reliable financial market infrastructure, EUREX liquidation is preparing preventively for the digital transformation of the financial sector.
Danny Hand, Prime Financial Services Product Development in JP Morgan:
“JP Morgan’s involvement as a member of the clearing in the first live DLT -based transaction to liquidate the derivatives of the original margin shows our commitment to our innovation and faith in DLT’s transformative power to ensure industry management.
Anja Kleefsman, Head of the Ministry of Finance and PGGM’s management management:
“PGGM is happy to participate in this first DLT -based mobilization transaction based on DLT that started to meet our obligations to Eurex Clearing. Utilizing its benefits.”