JPMorgan Chase Announces Its Purchase Order Management Suite Now Has Tsu Connectivity And Is Available To Financial Institutions
Sydney, 11 October 2006 -- JPMorgan Chase Treasury Services today announced that its TradeDoc® system will now connect into SWIFTNet Trade Services Utility (TSU), SWIFT’s new workflow and matching engine for trade services.
The introduction of the TSU marks SWIFT’s first trade offering in the open account space, which has been requested by SWIFT member banks from the Trade Service Advisory Group. The enhancement to JPMorgan Chase Treasury Services’ TradeDoc is the only bank-offered connectivity solution that is being made available to other banks on a white label basis, which will enable end-to-end connectivity of the financial supply chain. This ultimately generates efficiencies for our corporate clients. With the connectivity extension of TradeDoc to the TSU, correspondent banks will be able to integrate data to satisfy the physical and financial supply chain requirements.
Bruce Proctor, Head of JPMorgan Chase Global Trade Services said, “By helping our corporate customers and their counterparties’ banks along the supply chain we are introducing significant business efficiency into the market and reducing costs. The TSU will level the competitive marketplace and allow all banks to enter the open account space, and we are excited to be the first bank to be able to offer our enhanced TradeDoc product as a tool to make this happen and facilitate other banks to join this new service.”
About JPMorgan Chase Treasury Services
The Treasury Services (www.jpmorganchase.com/ts) business of JPMorgan Chase is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and operations in 36 countries, JPMorgan Chase Treasury Services is one of the world’s largest providers of treasury management services.
About JPMorgan Chase & Co.
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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