JP Morgan says it is now offering tri-party clearing and settlement for on and off-exchange trades throughout the Nordic region through GlobeClear, its securities clearing business.
The bank says a broker-dealer has already signed on as the first client to use the new capabilities in the region through a tri-party arrangement. SEB will act as sub-custodian.
“We are delighted to have our first broker dealer for our extended fully-integrated on-exchange product in the Nordic region,” says Christiane Macedo, senior vice president and Global Head of the GlobeClear Product. “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.”
JP Morgan offers clearing, collateral management and financing as an integrated set of products through GlobeClear.