Standard Chartered Bank has been awarded the mandate for handling E*TRADE Capital Markets’ institutional custody business in Japan, extending its relationship in Asia with the company. E*TRADE Capital Markets chose to expand its arrangement with Standard Chartered Bank for its scope and flexibility in executing in the Asian institutional markets.
“We are placing significant priority on technology and efficiency for our institutional securities clearing needs in Japan, which is a key strategic market,” said John Lord, vice president of Asia-Pacific at E*TRADE FINANCIAL. “We are achieving an exceptionally high STP rate at over 99% efficiency with the seamless transition to and deployment of Standard Chartered technology.”
The contract is particularly significant for Standard Chartered as it broadens its presence in Asia and Asia Pacific, with 15 major and emerging markets in Asia.