Calastone inks JP Morgan deal
JP Morgan Asset Management’s trading and analytics platform is set to be powered by the automation capabilities of Calastone, after the two firms formed a partnership.
Calastone has added the business of JP Morgan Asset Management to its money markets service, in a deal that will see “new levels of automation” introduced to the firm’s Morgan Money trading platform.
As a result, Morgan Money will initially use Calastone’s capabilities to enhance its entire settlements process. The firm will also implement automated settlements, and will become the first in the market to use Calastone’s technology to do so.
“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,” Calastone vice chair Americas Dan Kramer said.
“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.”
JP Morgan Asset Management head of product strategy and development Paul Przybylski said the Calastone deal would help the firm deliver the best in class experience it designed Morgan Money to provide.
To read more, please click on the link below…
