New York , August 15, 2011– J.P. Morgan Worldwide Securities Services today announced significant enhancements to trade instruction deadlines for global custody clients. J.P. Morgan’s global custody business, which operates in more than 100 markets, has improved over 2,100 deadlines in more than 80 markets, providing market-leading cut-off times in the majority of those markets. As a result of ongoing significant investment in its technology and operational centers, J.P. Morgan clients now have greater flexibility in instructing trades. Bringing trade instruction deadlines closer to market deadlines allows more time for pre-matching and identification of potential settlement issues.
The vast majority of enhancements are to instructions transmitted electronically as clients’ electronic trade instructions can move freely between global operating sites in the United States, United Kingdom, India and Australia. This effectively removes the limitations previously imposed by local and regional processing hours, resulting in improvements that range from 30 minutes to more than 24 hours. In addition, electronic trade instructions can now be processed and repaired almost continually through a 7-day week and 24-hour day.
“This initiative leverages the full power of J.P. Morgan’s global processing capabilities and technology to improve our clients’ trading experience across the vast majority of J.P. Morgan’s global custody network,” said Kelly Mathieson, global custody and clearing business executive, J.P. Morgan. “Clients who instruct their trades electronically, using either standard electronic industry formats or J.P. Morgan’s proprietary tools, will see a significant and immediate benefit.”
Mathieson notes that the in-depth market review J.P. Morgan completed has resulted in additional enhancements. The firm can now support more instruments in certain markets, such as India, which were previously impacted by short settlement cycles and regional processing hour restrictions. Manual instruction deadlines were also improved within the existing local and regional processing hours in certain markets.
A leading global custodian, J.P. Morgan has over $16.9 trillion in assets under custody.
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. Worldwide Securities Services leverages the firm's unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $16.9 trillion in assets under custody and $7.5 trillion in assets under administration. For more information, go to www.jpmorgan.com/wss.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 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 and Chase brands. Information about JPMorgan Chase & Co. is available at jpmorganchase.com.
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