The implementation of new bank regulations for liquidity, mandatory clearing, and margin requirements for OTC derivatives have caused a significant increase in demand for High Quality Liquid Assets (HQLAs). As a result, there exists a heightened need for a marketplace to facilitate large scale, cost efficient collateral transfers across the global financial eco-system. The main cost drivers and hurdles for traditional collateral transfers are capital costs associated with balance sheet usage, and settlement / operational bottlenecks associated with the delivery of securities across a fragmented securities settlement system. The vision behind HQLAX is to provide market participants with a platform that helps improve collateral fluidity by creating a new, more efficient, more transparent and more cost effective marketplace for liquidity transfers.