JP Morgan’s global custody business, which operates in more than 100 markets, has improved over 2,100 traduce instruction deadlines for global custody clients 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 United States, United Kingdom, 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 7-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,” says Kelly Mathieson (pictured), 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.”
Mathieson notes that the in-depth market review JP Morgan completed has resulted in additional enhancements. The firm can now support more instruments in certain markets, such as India, which were previously impacted by short settlement cycles and regional processing hour restrictions. Manual instruction deadlines were also improved within the existing local and regional processing hours in certain markets.
