J.P. Morgan’s Worldwide Securities Services business today announced it has launched DerivClearTM, a centralised OTC derivatives platform supporting its Global Derivatives Services business. A number of existing clients have already migrated to the new platform.
Building on J.P. Morgan’s leadership in OTC derivatives processing, DerivClearTM offers an end-to-end OTC derivatives solution providing trade capture and lifecycle management, confirmation control, settlements and reporting. Clients can access it online for a wide range of OTC products across multiple asset classes including credit, rates, equity and FX.
“With the OTC industry undergoing significant change, clients are required to review their infrastructure to address new connectivity, reporting and timing challenges,” said Susan Ebenston, global fund services executive for J.P. Morgan. “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 DerivClearTM platform which uses proprietary technology and provides direct client access via a web front end.”
Since the J.P. Morgan/Bear Stearns merger in 2008, the firm has been strategically investing in the development of DerivClearTM. The platform was awarded ‘The Banker’ magazine’s Innovation in Custody and Settlement Technology award for 2009 and currently has over 10 clients live, with substantial growth through new clients and migrations planned in the coming months.
