JPMorgan Speeds Up US Dollar Clearing in Asia

JPMorgan has enhanced its US Dollar Clearing – Asia Direct solution to further assist clients seeking fast and efficient means of making US dollar payments to banks in Asia. As part of the enhancements, clients now have direct access to a larger number of banks as the solution’s coverage has been expanded to members of Japan’s Tokyo dollar clearing system. In addition, JPMorgan has invested in an intelligent routing technology, which streamlines processing and speeds settlement by enabling the fastest channel for delivery.

The solution is the first payment solution to provide direct access to multiple regional and in-country US dollar clearing systems in China, Hong Kong, Japan and Taiwan from a single US dollar account, claims the bank. Clients are not required to establish separate accounts in each country of clearing, resulting in better cash concentration, lower fees, simplified funding arrangements and decreased time spent on reconciliation activities.

“Clients are able to capitalise on the significant growth in payment flows to and across Asia with US Dollar Clearing – Asia Direct,” said Abdul Roaf Latiff, Asia head of treasury services clearing and foreign exchange, JPMorgan Treasury Services. “By expediting their payments, our clients also are positioned to improve their relationships with customers, counterparties and suppliers, and thus negotiate better terms.”


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