J.P. Morgan, HQLA-X, and Ownera Launch Cross-Ledger Intraday Repo Solution

J.P. Morgan, HQLA-X, and Ownera have unveiled a groundbreaking cross-ledger repo solution designed to facilitate intraday settlement with precision. The system enables repo traders to exchange cash at J.P. Morgan and collateral at HQLA-X, with settlement times specified down to the minute. This innovation addresses the growing demand for interoperability and exact timing in cash and securities settlements.

Ownera's routing technology powers the full lifecycle of repo transactions, from execution to delivery-versus-payment (DvP) across ledger platforms. The solution leverages the open FinP2P protocol to connect participants peer-to-peer, optimizing intraday liquidity. Initial trading volumes have reached up to $1 billion daily, with expectations for significant growth.

The integration of blockchain deposit accounts via J.P. Morgan's Kinexys platform underscores the potential for scalable, cross-platform solutions in institutional finance. This development marks a critical step toward seamless digital asset settlement in traditional markets.