J.P. Morgan, HQLA-X and Ownera Launch Intraday Repo Solution, With $5bn Traded in the First Month

LONDON, UNITED KINGDOM, August 7, 2025 - J.P.Morgan, HQLA-X and Ownera announce the launch of their cross-ledger repo solution. Repo traders are now able to exchange cash at J.P. Morgan and collateral at HQLA-X intraday, with settlement and maturity times specified to the minute.

While digital solutions have recently gained market prominence, there is a need for interoperability and precise cash and securities settlement. Ownera’s market leading routing technology has allowed J.P. Morgan and HQLA-X to orchestrate the full lifecycle of Repo transactions, from execution through to the delivery-versus-payment (DvP) exchange of collateral and cash across ledger platforms with precise settlement, which can help repo participants optimize their intraday liquidity. Ownera’s routers connect market participants peer-to-peer using the open FinP2P protocol, delivering application-layer orchestration across digital platforms.