Clifford Chance

Clifford Chance advised HQLAᵡ on its EUR 14.4m Series B funding

Clifford Chance advised HQLA^X, an innovative financial technology firm that is using DLT to accelerate the financial ecosystem’s transition towards frictionless ownership transfers of assets, on its EUR 14.4m Series B funding from BNY Mellon, Goldman Sachs, BNP Paribas Securities Services, Citigroup and existing shareholder Deutsche Börse Group.

The funding will be used to accelerate the core premise of the HQLA^X platform – helping the industry address European collateral fragmentation by extending its connectivity to leading triparty agents, custodians and market participants.

HQLA^X’s core clients are financial institutions active in securities lending and collateral management. Leveraging R3’s distributed ledger technology Corda Enterprise, the HQLA^X platform enables market participants to transfer ownership of securities seamlessly across disparate collateral pools at precise moments in time. This allows participants to optimize their liquidity management and collateral management activities, thereby generating operational efficiency gains and capital cost savings.

The Clifford Chance team who ensured the negotiation and preparation of transaction documents in connection with the funding was led by Corporate partner Katia Gauzès, with the support of senior advisor Louis Mamère and associate Nazim Faïd.