Golden Finance reported that HQLAx confirmed that it participated in an intraday repurchase transaction, during which Goldman Sachs borrowed cash from Clearstream in exchange for collateral held on the HQLAx DLT platform. The transaction is part of the European Central Bank’s (ECB) trial of wholesale DLT settlement using central bank funds. In this case, the cash portion of the transaction used the Bundesbank’s Trigger solution. While HQLAx has participated in several delivery-versus-payment (DvP) buyback simulations, this is the first transaction to involve a real cash settlement. HQLAx is a collateral liquidity solution. Assets held by the custodian are locked and digitized in the HQLAx digital collateral registry, and the legal agreement allows the collateral to be transferred immediately using DLT without having to wait for T+2 settlement. It conducted its first live transaction in 2018.