The German-based securities listing and trading exchange, Deutsche Börse Group plans to develop a blockchain securities platform using R3’s technology.
The trading exchange will use the technical support of the blockchain startup R3 Corda platform and HQLAX, a financial management agency, according to an announcement.
This decision has been taken because of increasing operational costs and lowering settlement fluidity that resulted from a fragmented global securities system.
“These assets are in heightened demand due to the implementation of bank regulations for liquidity, mandatory clearing and margin requirements for OTC derivatives,” Deutsche Börse mentioned.
The CEO of HQLAX, Guido Stroemerm said:
“Our goal is to mobilize liquidity across pools of collateral currently residing in disparate custody accounts around the globe.”