Asset managers concerned that the messaging tools custodians use for the collateral management process are behind the times.
The expansion builds on Pirum's existing real-time connectivity to the four international tri-party agents.
Clearstream in advanced discussion with global custodians over blockchain securities lending platform
Clearstream's Philippe Seyll explained the taking-off point for the HQLAx platform will be to onboard a major player with tri-party capabilities.
De Vidts, who has served in the financial markets since 1972, was one of the pioneers of the international and tri-party markets in the mid-1990s.
The agreement will enable greater opportunities for real-time collateral mobilisation, as well as straight-through processing across asset classes.
The launch of the service follows the go-live of China A-Shares on the MSCI Emerging Markets Index for the first time.