Financial Services Industry
Industry: Email Alert RSS FeedJP Morgan builds link to Omgeo's CTM.
Financial News, September, 2003
Byline: Heather McKenzie
JP Morgan Investor Services (JPMIS), the custody and securities services arm of JP Morgan Chase, has become the first custodian to establish a settlement instruction interface with Omgeo Central Trade Manager (CTM), a central matching system.The link enables instructions for trades that are confirmed in CTM to be sent directly to JP Morgan, improving straight-through processing rates. Previously, investment managers would have to create and send a separate trade instruction to JPMIS.
The custodian built the link using the Swift financial messaging network and ISO 15022-based messages. Eligible trades are entered by investment managers into Omgeo CTM and matched with broker dealers. A matched trade is then instructed to JPMIS....
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