JP Morgan, Hqlax and Ownera are pleased to announce the launch of the Cross Ledger Reposorion. Repository traders can now exchange cash with HQLAX Intray’s JP Morgan with collateral, with payment and maturity times specified at the moment.
Digital solutions have recently gained market visibility, but require interoperability and accurate cash and securities settlement. With the owner’s market-leading routing technology, JP Morgan and HQLAX were able to adjust the full lifecycle of the repo transaction, from execution to accurate settlement of date-to-salary (DVP) collateral (DVP) collateral (DVP) exchange, through collateral and cash exchanges, which helps repository participants optimize in a liquidity environment at aday. The owner’s router uses the open FINP2P protocol to connect market participants peer-to-peer to provide application layer orchestration across the digital platform.
The first phase of the solution is live with transactions executed reaching a trading volume of up to $1 billion per day given a given day, reaching expected future volume growth. This solution facilitates exchange of securities ownership on the HQLAX platform for cash settled on the JP Morgan Digital Financing application via JP Morgan Kinexys blockchain deposit account.
As digital solutions gain traction across the institutional financial markets, the maximum potential of a solution lies in its scalability. Designed from the start to operate at the industry-wide level, the platform reduces market fragmentation by supporting potential future expansions to multiple trading venues, collateral sources and digital cash instruments.
“We’re looking forward to seeing you in the future,” said Ami Ben-David, CEO and founder of the owner. Expand solutions in an open and collaborative way across a broader market. ”
“Owners offer key utilities that enable meaningful growth of the facility’s DLT ecosystem. We look forward to further supporting our clients’ daytime repo needs,” said Dan Phillips, executive director of Marketing Digital Assets at JP Morgan.
Richard Glen of Solutions Architect Lead commented that HQLAX: “The solution changes the way clients manage daytime liquidity, providing accuracy and speed, as well as certainty and control.
About the owner
Owners are technology companies that bring interconnectivity solutions to the world of digital assets. Owner routers enable global distribution and liquidity by connecting tokenized assets distributed by sell-side institutions to replace demand. Routers facilitate negotiation, orchestration and transaction resolution between counterparties and their various regulatory service providers, including counterparties and custodians, broker dealers, transfer agents, cash providers, lenders and more. The owner’s router implements the open FINP2P protocol originally pioneered by the company.
For more information, please visit www.ownera.io
About HQLA-X
HQLA-X is a financial technology innovation company specializing in providing liquidity management and collateral management solutions to institutional clients in the global securities lending and repo markets. For more information, please visit www.hqla-x.com.
JP Morgan, Hqlax and owners first appeared in PostJP Morgan, Hqlax and Launch Intraday Repo Solution, which had a $5 billion deal in the first month.
