J.P. Morgan is adding a tailored version of its Auto Allocation automation system to its collateral management platform in Japan.
The system, previously only available outside of Japan, will allow automatic allocation of collateral to multiple counterparties, easy access to domestically held securities and funds, as well as legal clarity as to the collateral recipients rights to the collateral.
Available to counterparties who wish to use Japanese equities for collateralizing repos or loans of securities or cash, it is intended to provide a seamless substitution and recall process for Japanese securities. It will also afford lenders with protection of their collateral, made possible through registration in the Japan Securities Depository Center (JASDEC).
This is an important development for our existing collateral management offering in Japan, says Fumihiko Yonezawa, head of Worldwide Securities Services at J.P. Morgan in Japan. By further extending key functionalities from our global collateral management platform to this market, our domestic Japanese clients significantly benefit from greater automation of the entire collateral management process.
These platform enhancements in Japan underscore our ongoing commitment to supporting our clients with innovative solutions, with a view to making the collateral management process easier, simpler and faster. This development showcases one of J.P. Morgans core strengths: the ability to bring global efficiency to our clients, tailored to meet local market requirements, says Blair Harrison, head of Collateral Management at J.P. Morgan Worldwide Securities Services Asia Pacific.
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