JPMorgan to provide clearing for Knight Capital on Pipeline MTF

Source: JPMorgan

J.P. Morgan Worldwide Securities Services today announced that its GlobeClear business has been appointed to provide clearing and settlement services for Knight Capital Europe Limited when executing trades on Pipeline's Block Board, the pan-European multilateral trading facility (MTF) for equity blocks.

With the addition of Pipeline's Block Board, GlobeClear supports over 60 OTC and 50 trading venues, providing access to the major European exchanges and MTFs. It provides clearing and settlement agency services covering all fixed income and equity securities for banks, brokers and hedge funds that want to trade in the global markets.

"The provision of clearing and settlement services for Knight on Pipeline's Block Board is an important component of GlobeClear's market coverage and connectivity," said Mike Reece, Market Manager for Banks and Broker Dealers for J.P. Morgan Worldwide Securities Services in EMEA. "A choice of venues and services is more important than ever for our clients; it is vital for market participants to connect to a range of exchanges and MTFs to access liquidity across a fragmented market."

Marcus Hooper, Executive Director of Pipeline Europe, said: "Pipeline's Block Board services 14 European markets and over 3,500 stocks. As block MTF trading continues to grow in Europe, members like Knight will be able to reduce their risk exposure by using GlobeClear to clear block trades."

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