According to the firms, the new system will address the challenge of having to tie-up excess funds across the clearing workflow by integrating settlement instructions for custodians and other funding sources into existing treasury platforms.
The resulting end-to-end automation of workflows provides “full visibility” of the asset flows between JP Morgan and clearing houses, with “complete audit trails and real-time notifications”.
“The technology we have developed reduces the time needed to process the entire collateral workflow from hours to near real-time,” says Anthony Fraser, head of global clearing operations and trading cost management at JP Morgan.
