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JP Morgan Offers Third-Party Clearing

For SmartPool and Arca Europe trading platforms

JP Morgan has announced that its GlobeClear business is offering third-party clearing and settlement services for trades executed on the SmartPool and NYSE Arca Europe trading platforms.

Reportedly, with this service extension, JP Morgan’s GlobeClear now supports 29 trading venues, including five MTFs, three of which are cleared through EuroCCP and/or LCH Clearnet as central counter parties. It said that clients interested to trade on these MTFs can opt for cross-platform netting, enabling them to reduce their net settlement cost.

The bank said that the SmartPool Trading is a pan-European Multilateral Trading Facility (MTF) and dark liquidity pool covering 15 markets. It was created by NYSE Euronext in partnership with JP Morgan, HSBC and BNP Paribas. It has added that the NYSE Arca Europe, another pan-European MTF integrated with NYSE Euronext, provides access to the liquid securities across 11 markets.

Kelly Mathieson, global head of clearance and collateral management for JP Morgan Worldwide Securities Services, said: “Supporting investors on these trading platforms is in line with GlobeClear’s strategy to further expand its clearing and settlement offering, providing our clients with quick, pan- European access to several trading platforms through a single global window. Through GlobeClear, clients benefit from a wide market coverage, both off and on-exchange, at low cost.”