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Inspired by Reshetikhin's twisting procedure to obtain multiparametricextensions of a Hopf algebra, a general `symmetry transformation' of the`particle conserving' $R$-matrix is found such that the resultingmultiparametric $R$-matrix, with a spectral parameter as well as a colourparameter, is also a solution of the Yang-Baxter equation (YBE). Thecorresponding transformation of the quantum YBE reveals a new relation betweenthe associated quantized algebra and its multiparametric deformation. Asapplications of this general relation to some particular cases, multiparametricand coloured extensions of the quantum group $GL_q(N)$ and the Yangian algebra$Y(gl_N)$ are investigated and their explicit realizations are also discussed.Possible interesting physical applications of such extended Yangian algebrasare indicated.Comment: 21 pages, LaTeX (twice). Interesting physical applications of the  work are indicated. To appear in Int. J. Mod. Phys.

international journal of modern physics a

Multiparametric and Colored Extensions of the Quantum Group GLq(N) and the Yangian Algebra Y(glN) Through a Symmetry Transformation of the Yang–Baxter Equation