JPMorgan’s Onchain Intraday Repo Trades $5B in First Month
Main Idea
JPMorgan, HQLAx, and Ownera launched a cross-ledger intraday repurchase agreement (repo) solution, trading $5 billion in its first month, leveraging blockchain for efficient liquidity management.
Key Points
1. The solution enables repo traders to exchange cash held at JPMorgan for collateral held at HQLAx intraday, utilizing blockchain technology.
2. The platform handles up to $1 billion in daily trading volume, with securities on HQLAx’s platform settled via JPMorgan’s Digital Financing application.
3. Ownera CEO Ami Ben-David described intraday repo as a 'compelling use case for tokenized assets'.
4. JPMorgan’s Dan Phillips highlighted Ownera’s role as a 'key utility' for institutional distributed ledger technology (DLT) growth.
5. HQLAx’s Richard Glen emphasized the solution’s ability to transform intraday liquidity management with 'precision, speed, certainty, and control'.
Description
JPMorgan, HQLAx and Ownera have launched a cross-ledger intraday repurchase agreement (repo) solution, with $5 billion traded during its first month of operation. JPMorgan, HQLAx, Ownera Debut Cross-Ledger Repo The solution enables repo traders to exchange cash held at JPMorgan for collateral held at HQLAx intraday, the release shared with Bitcoin.com News explains. Settlement and
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