JPMorgan Treasury Services today announced that it has successfully completed its first transactions through its CLS* third party service. The first trades were instructed on Monday 4th November and completed at 06:37 CET today.
Brian Wedge, Senior Product Manager, JPMorgan comments, “This is an important milestone for the industry and is the culmination of extensive preparation from both ourselves and our client. Everything has gone to plan from trade submission, status reporting to final settlement. We have a number of other institutional clients that are in the final stages of CLS preparation and will go live before year-end. We expect to see a steady increase in CLS volumes from now on as our clients agree to settle with their counterparties in CLS. From the outset, JPMorgan Treasury Services has been totally committed to CLS, the global clearing business and to delivering the most robust and advanced services for our global client base.”