J.P. Morgan announced Monday during Sibos an expansion of its direct custody and clearing capabilities, as well as expanded global payment capabilities.
J.P. Morgan's Worldwide Securities Services (WSS) will grow its direct custody and clearing footprint by expanding its local services presence in markets including Australia, India, New Zealand, Taiwan, Russia, the United Kingdom and United States. The company already has custody and clearance services available to institutional investors in more than 100 markets.
“Expanding our local services into additional markets is a natural extension of our existing business and is compelling: it gives clients an integrated solution across a range of markets supported by our world-class client service, a unified technology platform and local market expertise,” said Rowena Romulo, head of Direct Custody & Clearing at WSS.
Meanwhile J.P. Morgan Treasury Services announced it has launched several offerings to help financial institutions streamline global payment processing, improve efficiency and mitigate risk. Those solutions include direct clearing of high value payments, indirect euro clearing services, a new International Demand Deposit Account platform and expanded coverage in Asia.
"It is imperative to continue to invest in Treasury Services to ensure our solutions, service and technology are market-leading and best meet our clients' needs," said Donald McCree, Chief Executive of J.P. Morgan's Treasury Services business. "We have kept up our level of investment, even during the market uncertainty in the last two years, and will continue to do so. These offerings will help us ensure we continue to be placed as an industry leader in Treasury Services."