NEW YORK and LONDON, May 27,
2020 /PRNewswire/ -- J.P. Morgan Asset Management has
partnered with Calastone, the largest global funds network, to
introduce new levels of automation to money market funds via its
"Morgan Money" trading platform.
The global leader in investment management – with assets under
management of $1.9 trillion – will
initially use Calastone to enhance its entire settlements process,
bringing automated settlements to their platform. Morgan Money will be the first in the market to
offer automated settlements to its users via Calastone's innovative
technology.
Calastone digitalises the investment and reporting process for
money market portals, fund providers and investors. The
service enables the highest levels of automation, comprising of
trade placement, settlement, reporting and cash balance sweeps.
Today's announcement strengthens the relationship between the
two the firms. Where today Calastone enables trade automation for
JP Morgan funds globally, this new partnership enables Morgan Money to leverage new features, including
automated settlements, which enhance the service available to its
users.
The current pandemic has heightened the need to adopt greater
levels of automation amongst fund providers and their investors.
Calastone's solution provides a fully digitalised market ecosystem
offering firms greater immediacy, accuracy and certainty of
execution through automated workflows. Through this partnership,
Morgan Money is able to provide
customers with industry leading experience, optimised for current
and future market needs.
Dan Kramer, Calastone's Vice
Chair, Americas
"We are delighted to welcome JP Morgan onto our new suite of
Money Markets Services – and as the first to make automated
settlements available to their users. Now more than ever, it is
essential for fund providers to stay competitive, attractive and
meet the future needs of investors. We are thrilled that, through
our technology, we can help JP Morgan provide its users with a
market-leading customer experience across Europe, USA,
Asia and other global
markets."
Ed Lopez, Calastone's Chief
Revenue Officer, comments;
"Traditional models remain under immense pressure and have
very quickly been seen to come up short. The key to managing this
new post-COVID world, and to staying attractive in it, sits in
embracing new, smart technologies – and making the switch from
manual to automated. To see JP Morgan share in our vision and
champion innovation is fantastic – and it gives us even greater
confidence of the real potential for how far our Money Markets
Services can go long term."
Paul Przybylski, Head of
Product Strategy and Development at J.P. Morgan Asset Management
adds;
"Morgan Money has been
designed to deliver a best in class customer experience, centred on
seamless integration and operational efficiency.
"With that in mind, we are excited to partner with Calastone
to bring automated settlements to the platform, allowing our users
to settle trades in real time, with automated trade workflow,
initiated from one Morgan Money
platform."
About Calastone
Calastone is the largest global funds
network, connecting the world's leading financial
organisations.
Our mission is to help the asset management industry transform
by creating innovative new ways to automate and digitalise the
global investment funds marketplace, reducing frictional costs and
lowering operational risk to the benefit of all. Through this, we
generate the opportunity for the industry to deliver greater value
back to the end investor.
Over 2,100 clients in 42 countries and territories benefit from
Calastone's services, processing £190 billion of investment value
each month.
Calastone is headquartered in London and has offices in Luxembourg, Milan, Hong
Kong, Taipei, Singapore, New
York and Sydney.
About Morgan
Money
Launched October
2019, Morgan Money combines
open-architecture access to top managers worldwide with
cutting-edge technologies from across J.P. Morgan Chase. The result
is a powerful online tool that enables users to easily view
accounts, efficiently execute trades and effectively manage risks.
For more information visit www.jpmorgan.com/morganmoney
About J.P. Morgan Global Liquidity
J.P. Morgan Asset
Management – Global Liquidity is the largest global provider of
institutional short-term fixed income solutions, with $773.4B billion in assets under management as of
March 31, 2020. The dedicated global
team of liquidity professionals, with over 30 years of money market
experience through all market cycles, works with clients to build
effective short-term fixed income solutions using rigorous credit
and risk management combined with access to J.P. Morgan Global
Liquidity's global resources and expertise.
www.jpmgloballiquidity.com
About J.P. Morgan Asset Management
J.P. Morgan Asset
Management, with assets under management of $1.9 trillion (as of March
31, 2020), is a global leader in investment management. J.P.
Morgan Asset Management's clients include institutions, retail
investors and high net worth individuals in every major market
throughout the world. J.P. Morgan Asset Management offers global
investment management in equities, fixed income, real estate, hedge
funds, private equity and liquidity. J.P. Morgan Asset Management
is the marketing name for the asset management businesses of
JPMorgan Chase & Co. (NYSE: JPM), and its affiliates worldwide.
www.jpmorgan.com/am
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SOURCE J.P. Morgan Asset Management