JP Morgan Worldwide Securities Services has enhanced trade instruction deadlines for global custody clients. JP Morgan’s global custody business 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 centres, JP 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 US, UK, 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 seven-day week and 24-hour day.
“This initiative leverages the full power of JP Morgan’s global processing capabilities and technology to improve our clients’ trading experience across the vast majority of JP Morgan’s global custody network,” said Kelly Mathieson, global custody and clearing business executive, JP Morgan. “Clients who instruct their trades electronically, using either standard electronic industry formats or JP Morgan’s proprietary tools, will see a significant and immediate benefit.”
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