HQLAX S.à r.l. announced that it has received a No-Action Letter (NAL) from the U.S. Securities and Exchange Commission Division of Trading and Markets staff that permits eligible U.S. broker‑dealers and banks to access the HQLAX DLT-enabled collateral mobility platform for a 36‑month period. As set out in the NAL, participation by U.S. institutions is subject to defined eligibility criteria, transaction limits, and ongoing reporting requirements.
The NAL permits HQLAX to offer its collateral mobility services to qualified U.S. broker‑dealers and banks, extending access to U.S. regulated institutions where the services had previously been available only to their non‑U.S. affiliates and branches.
“We are pleased to roll out our collateral mobility services to eligible U.S. institutions,” said Guido Stroemer, Chief Executive Officer of HQLAX. “This marks an important milestone for HQLAX as we expand our client footprint into the U.S. market. We appreciate the SEC staff’s constructive engagement throughout the NAL process, as well as the support of our counsel, Clifford Chance.”
HQLAX announced it will continue to engage constructively with SEC staff during the NAL period while pursuing a permanent, conditional exemption.
The NAL follows the recent HQLAX announcement of strategic investments from Broadridge and Digital Asset to support the next phase of growth for HQLAX on Canton.
A full copy of the SEC’s No-Action Letter is available at https://www.sec.gov/files/tm/no-action/hqlax-nal-request-050426.pdf
Source: HQLAX
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