J.P. Morgan Treasury Services Breaks U.S. Dollar Value Record for Two Consecutive Months
Firm Clears More than $5.05 Trillion USD in a Single Day
NEW YORK.- J.P. Morgan’s Treasury Services business, a full-service provider of cash management, trade finance and treasury solutions, announced that it has broken its U.S. Dollar value record in September and October, highlighted by a single-day clearing record. Over the last two months, the firm has seen an increase in clearing values, including the clearing of a maximum value of $5.05 trillion in a single day. J.P. Morgan is the number-one clearer of U.S. dollars in the world, averaging $3.7 trillion in U.S. dollar transfers daily.
In addition to increased values, J.P. Morgan has also seen an increase in the volume of U.S. dollar clearing transactions. The bank broke its single-day clearing volume record in October, clearing 59 percent over its average.
“During this challenging economic climate, organizations are increasingly looking for strength and stability in their banking partners,” stated Greg Murray, executive director and product head for U.S. Dollar Clearing Business at J.P. Morgan Treasury Services. “Due in large part to J.P. Morgan’s steady leadership and proven ability to thrive in the face of difficult economic conditions, we are seeing a real flight to quality, evidenced by these historic transaction milestones for the bank.”
J.P. Morgan’s advanced technology platform and robust business processes deliver increased payment efficiency, security and reliability, and are recognized as amongst the best in the industry. J.P. Morgan was recently recognized as the Best Overall Bank for Payments and Collections in North America, by Global Finance magazine in 2008.
“J.P. Morgan has long been the number-one clearer of U.S. dollars in the world and we continue to lead the industry, offering superior service and clearing functionality to our clients globally,” said Emma Loftus, managing director, global clearing , J.P. Morgan Treasury Services. “As the largest and most respected provider of U.S. dollar funds transfer services, we are able to provide clients tremendous efficiencies and economies of scale that remain unmatched in the industry.”
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