Category: Allgemein

A New Order of Things is Needed

Whilst the collateral upgrade market provides market participants with balance sheet efficiency achieved from exchanging non-cash collateral baskets, the incumbent securities settlement infrastructure suffers from the inability to provide an industrial strength solution for atomic Delivery versus Delivery (DvD) of baskets of securities. Atomic DvD refers to the instantaneous exchange of one basket of securities versus another basket of securities across a fragmented securities settlement system…..(follow link below for  link below for more details)

Flyer One Pager New Order and Platform Benefits v3

HQLAᵡ Legal Counsel

An exciting opportunity exists for a Legal Counsel to help oversee the legal management of the HQLAx business, which is building a new collateral exchange platform using distributed ledger (‘blockchain’) technology to digitise baskets of assets and create a standardised token lending marketplace to help market participants redistribute liquidity more effectively and more cost efficiently. The Legal Counsel will liaise with the Senior Management Team, and will assume a hands-on role with responsibility for the day-to-day legal operations of the company.

HQLAx is a partnership of financial market veterans focused on providing corporate and bank treasurers with a cost effective, standardised, transparent and scalable market solution to transfer liquidity more efficiently.

  • A prototype version of the HQLAx securities lending platform was originally built in 2017 using Corda via a collaboration of 5 banks, R3, and HQLAx.
  • Subsequently, an early version of the platform was used to execute a live transaction between 2 banks at the start of 2018.
  • In April 2018, Deutsche Börse Group and HQLAx announced a partnership to build the HQLAx platform on the R3 Corda Blockchain Platform.
  • And more recently, Deutsche Börse Group announced that it expanded its partnership with HQLAx by acquiring a minority stake in HQLAx.

Press releases for the above milestones are available here: https://www.hqla-x.com/category/news

The Legal Counsel position is critical to the success of the HQLAx platform. Located in Luxembourg, the position requires strong experience in various areas of business law, including contract law, corporate law, competition law, intellectual property, employment law, litigations, etc…

The successful candidate will serve as the primary lawyer for HQLAx responsible for advising the business on a day-to-day basis on a broad range of corporate, commercial, regulatory aspects, including resolving issues which may arise in both existing and new commercial relationships.

The Legal Counsel is likely to have worked in both banking and startup environments, be comfortable with ambiguity, have impeccable character, be a “player and a coach”, be strictly non-political, and be passionate about building commercially successful solutions.

The successful candidate will be accountable for all legal matters related to the operations of HQLAx, and will be a talented, professional and experienced individual, capable of managing a diverse list of tasks. This role involves liaising with HQLAx business functions, legal departments of HQLAx partner companies, as well as where appropriate external legal services providers.

HQLAx is a growing company and as such is constantly looking for the next opportunity and therefore ensures that all ideas are welcome.

HQLAhas offices in both Luxembourg and Zug. This opportunity exists in Luxembourg, but from time to time may require travel to other cities mostly in Europe.

Attractive and competitive benefits package included.

 

Responsibilities

  • Provide legal support (legal added value) such as legal advice, drafting contracts, and negotiation with both customers and service providers, related to the operations of the HQLAx business
  • Join internal business meetings and, when appropriate, negotiation with third parties
  • Provide legal support for the development of client solutions and business relationships
  • Drive services provided by external law firms
  • Follow current and future business issues or opportunities and proactively propose legal approaches and input to be put in place to support those business opportunities
  • Preparation / negotiation of customer contracts
  • Preparation / negotiation of service agreements
  • Stay up-to-date on regulatory and law changes
  • Application of AML and compliance procedures
  • Negotiate with group clients, suppliers, as well as authorities
  • Identify, develop and deliver legal trainings to the business as required
  • Understand regulation, legislation and industry developments and how they will impact the business
  • Organization of meetings (with clients, board, shareholders, intermediaries, legal counsel, notaries, …) including minutes where appropriate
  • Organizing, advising and assisting with the overall corporate structure of the company
  • Preparation of proxies
  • Maintain the register of shareholders
  • Perform ad hoc legal tasks like review and preparation of relative simple legal documents where no consultation is needed from an expert legal counsel e.g. loans, share transfers, POA’s, resolutions to amend the articles of association and the process thereof
  • Provide general legal advice on applicable laws and regulations and on all company policies and guidelines (Compliance, Privacy)
  • Prepare and provide assistance in the preparation of notarial deeds (increase / decrease of share capital, dissolution, liquidation, etc …)
  • Manage and keep up to date legal documents

 

Qualifications

  • Master degree in Law (e.g. Business law)
  • Obtained relevant experience of minimum 10 years as Company lawyer or in a Law Firm based in Luxembourg; experience in the industry would be an asset
  • Strong experience in various basic areas of business law (contract law, corporate law, competition law, intellectual property, insurance, labor law, litigations, etc)
  • Fluent in English and French (spoken and written)
  • Beyond the legal theoretical knowledge, have strong ability to understand the business, technical and financial aspects of strategic projects
  • Experience in previous roles of developing smart legal structuring and strategic solutions, clearly contributing to generate added value
  • Pragmatic in approach and business solution oriented
  • A self-starter and somebody that is willing roll up sleeves to help HQLAx achieve its goals
  • Curious, creative, and proactive in proposing new ideas to deliver even more added value to the company
  • Dynamic, proactive, highly organized and detail-orientated with a client focus
  • Thrives in a dynamic, challenging environment; able to adapt easily to change
  • Excellent interpersonal skills and the ability to persuade and influence
  • Committed, enthusiastic and able to use initiative to help drive the business forward
  • Analytical mind with attention for quality
  • Exceptional written and verbal communication skills, as well as demonstrated proficiency in working closely with and advising senior executives of an organization
  • A team player who can work independently as well
  • Ability to build effective relationships

 

More information on HQLAx is available here: www.hqla-x.com

If you are interested in this role, please contact careers@hqla-x.com

HQLAᵡ Business Development Assistant

An exciting opportunity exists for a Business Development Assistant to help HQLAachieve market adoption of its new collateral exchange platform which will use distributed ledger (‘blockchain’) technology to digitise baskets of assets and create a standardised token lending marketplace to help market participants redistribute liquidity more effectively and more cost efficiently.

HQLAx is a partnership of financial market veterans focused on providing corporate and bank treasurers with a cost effective, standardised, transparent and scalable market solution to transfer liquidity more efficiently.

  • A prototype version of the HQLAx securities lending platform was originally built in 2017 using Corda via a collaboration of 5 banks, R3, and HQLAx.
  • Subsequently, an early version of the platform was used to execute a live transaction between 2 banks at the start of 2018.
  • In April 2018, Deutsche Börse Group and HQLAx announced a partnership to build the HQLAx platform on the R3 Corda Blockchain Platform.
  • And more recently, Deutsche Börse Group announced that it expanded its partnership with HQLAx by acquiring a minority stake in HQLAx.

Press releases for the above milestones are available here: https://www.hqla-x.com/category/news

The Business Development Assistant position is critical to the success of the HQLAx platform because the role will help achieve market-wide adoption of the HQLAx platform. The successful candidate will be a motivated collaborative individual, who is able to demonstrate a track record of achievement against defined goals and a creative approach to supporting new business growth within a team structure. The successful candidate will be target-driven, have strong commercial acumen, and will be looking to establish their career within a Business Development role within an exciting and dynamic company.

Capital Markets and/or blockchain technology experience are not mandatory, but a plus.

HQLAhas offices in both Luxembourg and Zug. This opportunity exists in either Luxembourg or Zug.

Attractive and competitive benefits package included.

Responsibilities

  • Assist in the development and production of client presentation materials in support of customer on-boarding and be able to effectively articulate our value proposition.
  • Work closely and effectively with the Managers to keep them well informed of upcoming commitments and responsibilities, following up appropriately
  • Monitor incoming email appropriately, prioritizing urgent messages, preparing responses or when sufficiently informed responding on behalf of the Managers.
  • Successfully complete critical aspects of deliverables with a hands-on approach, including managing multiple team meetings, compiling agendas, taking minutes, ensuring actions are followed up and completed as well as handling day to day administrative tasks for the benefit of the company
  • Ad hoc analysis for presentation content.
  • Build partnerships that aid in delivering against the objectives of the company.
  • Make presentations to HQLAx co-founders, board of directors and chief executive officer as required

 

Qualifications

  • BA/BS in finance, economics, business or marketing related studies.
  • Ability to exercise good judgment in a variety of situations, with strong written and verbal communication, administrative, and organizational skills together with the ability to maintain a realistic balance among multiple priorities.
  • Ability to work independently on projects, from conception to completion and must be able to work under pressure to handle a wide variety of activities within a dynamic and fast paced environment
  • Ability to target customers via email and telephone and schedule meetings.
  • Strong communication skills, both written and verbal, and the ability to interact effectively with prospective customers.
  • Very strong interpersonal skills and the ability to build relationships with customers, stakeholders, including staff, board members, external partners
  • Demonstrable experience of problem-solving with strong decision-making capability
  • Proven ability to handle confidential information with discretion, be adaptable to various competing demands, and demonstrate the highest level of customer/client service and response
  • Track record of being highly organised, managing not only your diary but also the diaries of others, and working with teams in other locations.
  • Strong understanding of social media, LinkedIn etc.
  • Forward looking thinker, who actively seeks opportunities and proposes solutions
  • Advanced Microsoft Office (Outlook, Word, Excel, and PowerPoint)
  • Not scared of speaking your mind, taking and giving feedback.
  • High attention to detail.
  • A self-starter and somebody that is willing roll up sleeves to help HQLAx achieve its goals.

 

More information on HQLAx is available here: www.hqla-x.com

If you are interested in this role, please contact careers@hqla-x.com

HQLAᵡ Chief Technology Officer

An exciting opportunity exists for a CTO to lead the development and build of HQLAᵡ’s new collateral exchange platform which will use R3’s Corda distributed ledger technology to digitise baskets of assets and create a standardised token lending marketplace to help market participants redistribute liquidity more effectively and more cost efficiently.

HQLAᵡ is a partnership of financial market veterans focused on providing corporate and bank treasurers with a cost effective, standardised, transparent and scalable market solution to transfer liquidity more efficiently.

  • A prototype version of the HQLAx securities lending platform was originally built in 2017 using Corda via a collaboration of 5 banks, R3, and HQLAx.
  • Subsequently, an early version of the platform was used to execute a live transaction between 2 banks at the start of 2018.
  • In April 2018, Deutsche Börse Group and HQLAx announced a partnership to build the HQLAx platform on the R3 Corda Blockchain Platform.
  • And more recently, Deutsche Börse Group announced that it expanded its partnership with HQLAx by acquiring a minority stake in HQLAx.

Press releases for the above milestones are available here: https://www.hqla-x.com/category/news

 

The CTO position is critical to the success of the HQLAx platform. The successful candidate will have a successful track record of delivering complex software projects and be able to point to experience of establishing sound software development processes and tooling. They will be experienced in multiple languages and multiple development methodologies and will have a strong track record of leading delivering complex client facing applications and solutions. They are likely to have worked in both banking and startup environments, be comfortable with ambiguity, have impeccable character, be a “player and a coach”, be strictly non-political, and be passionate about building and leading teams. They will likely be active in one or more open source projects, have experience working in geographically distributed teams and have a sound understanding of security engineering principles. Capital Markets and/or Trading technology experience is not mandatory, but a plus.

One of the first responsibilities of the CTO will be to hire the development team to build and support the platform. The opportunity will suit an individual looking to make a name for themselves who has excelled in previous assignments and who has the potential to make a real impact. HQLAhas offices in both Luxembourg and Zug, and as such this opportunity exists in either location. The CTO will report directly to the CEO of HQLAᵡ.

Attractive and competitive benefits package included.

Responsibilities

  • Direct the full lifecycle development of the HQLAᵡx collateral exchange platform from inception, architectural design, GUI design, build, functional testing, non-functional testing, implementation, and integration with existing banking systems of HQLAᵡ ‘s clients.
  • Hands on development of key components of the HQLAᵡ collateral exchange platform.
  • Resolve high-priority/high-risk design questions and ensure the platform design is suitable to meet the security, disaster recovery, client confidentiality needs of HQLAᵡ’s clients.
  • Hire, retain, motivate, drive accountability, mentor and grow developers in the HQLAᵡ development team, and demonstrate commitment to excellence and integrity.
  • Evaluate new technology and makes recommendations on technological solutions for the benefit of HQLAᵡ’s strategic goals.
  • Define scalable, monitored, reliable electronic trading architectures, including the evaluation of thirdparty service providers.
  • Partner with the Deutsche Börse Group technology team to propose enhancements to the overall technology architecture of the HQLAᵡ platform.
  • Partner with the R3 Corda development team to propose enhancements to the Corda Enterprise platform that will mutually benefit both the HQLAᵡ platform and other Corda based solutions.
  • Establish technical support model for the HQLAᵡ platform.
  • Work closely with other HQLAᵡ personnel to ensure the HQLAᵡ’s collateral lending platform meets the functional requirements as defined by HQLAᵡ in collaboration with its customers.
  • Passionately and actively lead technical innovation within HQLAᵡ and identify competitive advantages and technological trends for the benefit of HQLAᵡ.
  • Facilitate collaboration resulting in sound ideas and detailed solutions.
  • Build partnerships that aid in delivering against the objectives of the company.
  • Create long range technological roadmaps supporting the organisation’s strategic roadmap.
  • Communicate effectively, both verbally and in writing, complex technological concepts and projects to both technical and non-technical audiences.
  • Make presentations to HQLAᵡ co-founders, board of directors and chief executive officer.
  • Approve purchases of technological equipment and software and establish partnerships with IT providers including management of vendors/partners performance.

Qualifications

  • Master’s Degree in Computer Science, Information Technology, Engineering, or related field.
  • Beyond this, the individual will need to have a technical degree from a top university and significant hands-on experience in the fields of software development and platform management including experience with multiple software development methodologies and project management frameworks to create the best overall approach within an organization.
  • Significant experience of leadership or management of a small to medium-sized development or technology team with demonstrated ability to grow engineering teams and drive accountability and performance through others.
  • Experience of shipping software products on an aggressive timeline.
  • Built and/or managed a development team (Back-End, Front-End, UX design) that created a successful product of significant scale.
  • Thorough conversancy in multiple technologies, architectural, and functional design principles and a strong understanding of full-stack development, Java and or Kotlin, Oracle database technology, Java Message Service, and Public Key Infrastructure. Knowledge of Blockchain, Distributed ledger technology or distributed systems is a plus. Thrives in a dynamic, challenging environment; able to adapt easily to change.
  • Experience of conceiving, designing, implementing, leading, and assessing projects from start to finish.
  • A self-starter and somebody that is willing roll up sleeves to help HQLAx achieve its goals.
  • Advanced IT Knowledge, Critical Thinking, Interpersonal Skills, Motivator, Technological Analysis, Research, Business, Computational Skills, Excellent Written and Oral Communication Skills, Public Speaking, Presentations, Team Building, Industry Knowledge, IT Terminology, Computer Network Development and Maintenance, Client Management.

If you are interested in this role, please contact Guido Stroemer at guido@hqla-x.com

Deutsche Börse Group and HQLAX partner to build securities lending solution on the R3 Corda blockchain platform

Release date: 26 Mar 2018

Deutsche Börse Group and HQLAX have signed a Letter of Intent to form a strategic partnership for the creation of an innovative securities lending solution using the R3 Corda blockchain platform.

Using Corda’s unique blockchain technology, the partners will build a fully integrated front to back operating model to facilitate more efficient collateral management of high quality liquid assets. These assets are in heightened demand due to the implementation of bank regulations for liquidity, mandatory clearing and margin requirements for OTC derivatives. According to the most recent Basel III Monitoring Report1, the global banking industry reported holdings of €11.95 trillion of high quality liquid assets.

The trading layer will be delivered exclusively by Deutsche Börse’s Eurex Repo platform, which will enable market participants to leverage existing connectivity to the market-leading Eurex Repo service. Deutsche Börse Group will in addition assume a lead role in the custody agnostic, post-trade processing layer, which is designed to interoperate with multiple collateral agents and custodians.

The partnership with Deutsche Börse is expected to foster market adoption by enabling seamless connectivity with HQLAX, for both trade execution and post-trade processing.

The securities lending market has long played an important role in high quality liquid assets portfolio management. However, incumbent operational bottlenecks across a fragmented global securities settlement system impede collateral fluidity, increase costs and risks, and result in sub-optimal financial resource management. In Europe alone, there exist over 40 central securities depositories (CSD).

Addressing these issues, HQLAX will help market participants redistribute collateral liquidity more efficiently, by improving interoperability for pools of securities residing in multiple, disparate settlement systems and locations.

In a traditional settlement of a securities lending transaction, underlying securities are transferred between custody accounts. In the HQLAX operating model, legal title transfer of baskets of securities will be achieved by the transfer of ownership of HQLAX Digital Collateral Records (DCRs) while the underlying securities remain static within unique DCR-linked custody accounts. The use of DCRs to effect transfers of securities will enhance regulatory transparency, mitigate systemic risk, reduce operational risk, and help financial institutions mobilise collateral and manage capital more efficiently.

The strategic partnership between Deutsche Börse Group and HQLAX brings the HQLAX collateral lending solution built on Corda, one step closer to production.

Guido Stroemer, CEO of HQLAX, commented: “Our goal is to mobilise liquidity across pools of collateral currently residing in disparate custody accounts around the globe. Partnering with Deutsche Börse Group enables us to maximise the network effect that will drive widespread adoption of the HQLAX platform. We look forward to further collaboration with the broader community of collateral agents and custodians.”

David Rutter, CEO of R3, added: “Partnering with a market leader like Deutsche Börse Group is a major milestone for HQLAX, and Corda is the perfect choice of platform. It was built from the ground up to enable businesses in complex and often highly regulated markets to overcome real-world challenges like this those associated with securities lending.”

Philippe Seyll, Executive Manager at Deutsche Börse Group, commented: “Jointly with our partners, we will address some of the major issues in today’s securities lending markets through innovate means. With the creation of a neutral custody agnostic control layer, Deutsche Börse is embracing distributed ledger technology and complements it with a neutral and trusted market infrastructure role open to multiple custodians and collateral agents. This way Deutsche Börse supports market participants to deal with the global regulatory framework whilst reaping the benefits of the leading edge distributed ledger technology.”

1  Basel III Monitoring Report (March 2018)

zusatzinformation

Deutsche Börse Group

Deutsche Börse Group is one of the largest exchange organisations worldwide. It organises markets characterised by integrity, transparency and safety for investors who invest capital and for companies that raise capital – markets on which professional traders buy and sell equities, derivatives and other financial instruments according to clear rules and under strict supervision. Deutsche Börse Group, with its services and systems, ensures the functioning of these markets and a level playing field for all participants – worldwide.

HQLAX

HQLAX is a financial technology innovation firm that specializes in delivering liquidity management and collateral management solutions for institutional clients in the global securities lending and repo markets. Learn more at www.hqla-x.com.

R3

R3 is an enterprise software firm working with a network of over 200 banks, financial institutions, regulators, trade associations, professional services firms and technology companies to develop on Corda, its blockchain platform designed specifically for businesses.

R3’s global team of over 140 professionals in nine countries is supported by over 2,000 technology, financial, and legal experts drawn from its global member base. R3 is backed by investment of USD 107 million from over 40 firms

Corda is the outcome of over two years of intense research and development by R3 and its members and meets the highest standards of the banking industry, yet is applicable to any commercial scenario. It records, manages and executes institutions’ financial agreements in perfect synchrony with their peers, creating a world of frictionless commerce. Learn more at www.r3.com.

Tim Cook

Tim is a founding partner of HQLAᵡ after having spent 8 years covering Brokertec’s EU Repo product from a Sales and Product Development perspective.  He currently heads up EMEA Sales at LiquidityEdge, a new trading venue for US Treasuries.  Tim brings to the team an outstanding background in business development within the banking community.  He achieved FCA accreditation in 2007 and holds a BA Hons in Financial Services from Bournemouth University.

Olly Benkert

Olly is an Investment Banking veteran having spent over two decades at Goldman Sachs.
Initially hired into a graduate program, Olly spent 5 years in the Corporate Treasury in London before transferring to Hong Kong to become the Regional Treasurer for non-Japan Asia from 1999 to 2000. He transferred back to London to manage the Global Funding business including Money Market trading and continued to run that business profitably and through the financial crisis. Olly assumed responsibility for the Global Repo Business and International Short Term Interest Rate trading in 2010 working closely with clients, regulators, governments and other authorities to help shape the new trading and balance sheet landscape. Olly sat on the Bank of England Money Market Liaison Group, ECB’s Money Market Contact Group, ICMA’s European Repo Council, LCH Product Advisory Group and Euroclear’s collateral user Group. Since leaving Goldman Sachs he has been spending time with some exciting Financial Technology start-ups. Olly received a BA Hons from Southampton University.

Guido A. Stroemer

Guido is a financial market veteran with over 26 years of professional work experience in a variety of trading, risk management and senior leadership positions. In his most recent role as global head of repo trading at UBS, he managed a global team that was responsible for firm wide secured funding activities for fixed income securities. In this role, and in response to the changing regulatory landscape related to Basel III capital and liquidity requirements, Guido led an innovative organizational restructuring to integrate the repo business into a centralized treasury function to enhance proactive financial resource management for the bank. Over the course of his career, Guido has been an active participant in the ICMA European repo council and the SIFMA funding division executive committee. Guido received a BA from Hamilton College and MBA from NYU, Stern School of Business.