Eighteen Institutions Sign Up for JP Morgan’s Third-Party CLS Services

A total of 18 financial institutions have selected JPMorgan Treasury Services to provide third party CLS (Continuous Linked Settlement) services. JP Morgan anticipates that its third party services client list will expand ‘significantly’ in 2003. Third-party CLS services allow institutions that are not members of CLS to settle their trades in CLS without the complex and time-critical aspects settlement members have to perform. Steve Wilder of JPMorgan said: ‘Our strategy has been to insulate our customers from the complexities that CLS introduces through end-to-end project management and exceptional implementations.’


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