J.P. Morgan Approved by the Taiwan Futures Exchange to Provide Settlement Services
Taipei - J.P. Morgan announced today that it has been granted approval by the Taiwan Futures Exchange (TAIFEX) to provide settlement services for futures and options transactions.
TAIFEX offers futures and options contracts for major Taiwan stock indices, government bonds, equities, interest rates, and commodities. TAIFEX is in a unique position to provide investors with highly efficient services for the expansion of their product lines and market scale, and the deployment of high-performance trading systems.
Pursuant to this arrangement, J.P. Morgan will provide TAIFEX with a fully integrated host-to-host platform to facilitate seamless and secure settlement processing. The platform is supported by a rigorous business continuity plan and allows easy access to detailed customised reports. The web-based user interface is also designed to enhance the users’ experience.
J.P. Morgan became the first foreign clearing member of TAIFEX in 2006. Acting through its Treasury Services business, J.P. Morgan is now one of the two foreign banks to provide TAIFEX with settlement services. J.P. Morgan’s position as a global leader in settlement, its strong credit rating and quality customer service will also attract more foreign investors and facilitate their settlement requirements in Taiwan futures market.
Simon Jones, Asia Pacific head of J.P. Morgan Treasury Services, said: “We are pleased to support TAIFEX’s settlement process. We believe that our expertise combined with our complete suite of account receivables and liquidity management services will also strengthen the internal control and liquidity efficiency among our customers.”
“This agreement also represents an important step for our expansion plans in Taiwan. We are looking to strengthen our position in-country by providing settlement, clearing and cash management solutions to local Futures houses in Taiwan,” added Jones.
J.P. Morgan leverages the services and products of its Worldwide Securities Services division, as well as its Investment Bank and Asset Management lines of business to provide its customers with one-stop solutions.
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan 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 a presence in 39 countries, J.P. Morgan Treasury Services is the world’s largest provider of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.
JPMorgan Chase & Co. (NYSE: JPM), is a leading global financial services firm with assets of $2.3 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and Washington Mutual brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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