JPMorgan Offers Tri-Party Clearance Arrangement Across The Nordic Region
June 5, 2006
London, - JPMorgan today announced that GlobeClear, its securities clearance business, has launched a fully-integrated clearance and settlement solution for on-exchange trades across the Nordic region. Its tri-party clearance arrangement now covers the entire Nordic region.
A broker-dealer has already signed on as the first client to use JPMorgan’s new capabilities in the region through a tri-party arrangement. As part of JPMorgan’s new Nordic arrangement, SEB will act as sub-custodian.
Christiane Macedo, senior vice president and Global Head of the GlobeClear Product said, “We are delighted to have our first broker dealer for our extended fully-integrated on-exchange product in the Nordic region. This is further confirmation of our strategy to provide our broker dealer clients with an integrated on and off exchange clearing capability which now covers 18 regulated Exchanges in Europe.”
JPMorgan offers a market-leading suite of products for global clearance, collateral management and integrated financing via a single interface through GlobeClear. GlobeClear has a global reach with a presence in all major financial markets, whose platform provides on- and off-exchange securities clearance and integrated collateral management capabilities for securities finance and derivatives trading.
About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is the global industry leader with $11.7 trillion in assets under custody. JPMorgan provides innovative custody and securities products and services to the world’s largest institutional investors and debt and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 80 markets to help clients optimize efficiency, mitigate risk and enhance revenue through custody and investor services as well as securities clearance and collateral management services. For more information, please visit www.jpmorgan.com/wss.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.3 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.
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