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JPMorgan extends tri-party clearance arrangement to Nordic region

06 June 2006  |  1373 views  |  0 Source: JPMorgan

JPMorgan today announced that GlobeClear, its securities clearance business, has launched a fully-integrated clearance and settlement solution for on-exchange trades across the Nordic region. Its tri-party clearance arrangement now covers the entire Nordic region.

A broker-dealer has already signed on as the first client to use JPMorgan's new capabilities in the region through a tri-party arrangement. As part of JPMorgan's new Nordic arrangement, SEB will act as sub-custodian.

Christiane Macedo, senior vice president and Global Head of the GlobeClear Product said, "We are delighted to have our first broker dealer for our extended fully-integrated on-exchange product in the Nordic region. This is further confirmation of our strategy to provide our broker dealer clients with an integrated on and off exchange clearing capability which now covers 18 regulated Exchanges in Europe."

JPMorgan offers a market-leading suite of products for global clearance, collateral management and integrated financing via a single interface through GlobeClear. GlobeClear has a global reach with a presence in all major financial markets, whose platform provides on- and off-exchange securities clearance and integrated collateral management capabilities for securities finance and derivatives trading.

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