JPMorgan's PB product supported by PBWire offers clients and executing brokers the benefit of real time trade notifications, STP and electronic confirmations. SwapsWire expects several other prime brokers to follow soon. Currently 15 dealers use PBWire to provide trade notifications and electronically confirm executed trades.

Stephanie Ercegovic, managing director and Head of Prime Brokerage at JPMorgan, said, "We're pleased to be at the forefront of providing an efficient and automated intermediation service for our Prime Brokerage clients using PBWire."

Executing brokers use PBWire to send trade details to prime brokers and their clients in real time. The client and prime broker can use PBWire to signal their agreement to the trade immediately, meaning give-up trades are agreed and fully documented within minutes of execution. Catherine Bartzos, managing director in Interest Rate Derivatives at JPMorgan said, "We use PBWire as a Prime Broker and an Executing Broker and have seen the benefits of the product from both sides."

Chip Carver, SwapsWire's CEO, added, "We are delighted that PBWire is the product of choice for JPMorgan, proving its capabilities in the marketplace. JPMorgan demands the very best in all its services and the fact that they chose PBWire is a testament to the product. PBWire is the only service offering true T+0 confirmations available to the OTC community and we are pleased to set the market standard. We are particularly delighted that dealers are quickly embracing the latest technology and look forward to expanding the service."