JPMorgan has been granted approval by the Taiwan Futures Exchange (TAIFEX) to provide settlement services for futures and options transactions.
TAIFEX offers futures and options contracts for major Taiwan stock indices, government bonds, equities, interest rates, and commodities. TAIFEX is in a unique position to provide investors with highly efficient services for the expansion of their product lines and market scale, and the deployment of high-performance trading systems.
Pursuant to this arrangement, JPMorgan will provide TAIFEX with a fully integrated host-to-host platform to facilitate seamless and secure settlement processing. The platform is supported by a rigorous business continuity plan and allows easy access to detailed customised reports. The web-based user interface is also designed to enhance the users’ experience.
JPMorgan became the first foreign clearing member of TAIFEX in 2006. Acting through its Treasury Services business, JPMorgan is now one of the two foreign banks to provide TAIFEX with settlement services. JPMorgan position as a global leader in settlement, its strong credit rating and quality customer service will also attract more foreign investors and facilitate their settlement requirements in Taiwan futures market.
“We are pleased to support TAIFEX’s settlement process,” says Simon Jones, Asia Pacific head of JPMorgan Treasury Services. “We believe that our expertise combined with our complete suite of account receivables and liquidity management services will also strengthen the internal control and liquidity efficiency among our customers.
“This agreement also represents an important step for our expansion plans in Taiwan. We are looking to strengthen our position in-country by providing settlement, clearing and cash management solutions to local Futures houses in Taiwan.”
JPMorgan leverages the services and products of its Worldwide Securities Services division, as well as its Investment Bank and Asset Management lines of business to provide its customers with one-stop solutions.
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