JP Morgan OTC derivatives platform DerivClear
JP Morgan (NYSE:JPM) announced it has launched its new OTC derivatives platform DerivClear, a centralized support system to offer support to the derivative services business of the company.
Susan Ebenston, global fund services executive for JP Morgan, had this to say about the new platform: “With the OTC industry undergoing significant change, clients are required to review their infrastructure to address new connectivity, reporting and timing challenges.
"Clients need to reduce costs associated with OTC processing and require the scale and control of an industrialized infrastructure and support operation to manage their portfolios. We are pleased to offer a highly scaleable, end-to-end processing infrastructure with the DerivClear platform which uses proprietary technology and provides direct client access via a web front end.”
This is the latest of a number of new products and services banks have been rolling out, not only to cut costs, but to squeeze every bit of liquidity out of each deal.
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