J.P. Morgan has executed Hong Kong's first HKD tri-party repo transaction between Bank of China (Hong Kong) Limited ( and Barclays Bank plc, the first such trade following the launch of the Hong Kong Monetary Authority's (HKMA) cross-border collateral management service in June this year.

Facilitating transactions between international financial institutions and members of Hong Kong's Central Moneymarkets Unit the HKMA Repo Financing Programme connects regional liquidity with global markets by utilizing international securities as collateral and providing an efficient channel for financial institutions seeking to widen their liquidity sources in HKD, renminbi (CNH), USD and EUR. In this instance, the transaction between BOCHK and Barclays leveraged the cross-currency, cross-border and global capabilities of the Repo Financing Program and J.P. Morgan platforms by mobilizing U.S. Treasuries against HKD liquidity.