The JPMorgan sweep transfers cash from clients’ current accounts into AAA rated offshore funds domiciled in Luxembourg. Clients automatically invest or redeem via the sweep on a same day basis in accordance with specific cut-off times for each currency. The service is a 2-way automated sweep that ensures surplus current account funds are automatically invested when money markets are most liquid to enhance returns while also facilitating redemptions from the money market funds when current account short positions prevail. Clients can elect to sweep all surplus funds or leave a target balance on their current account. The service also offers a variety of online reports that enable clients to closely track the movement of their funds and holdings throughout the process.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.