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JP Morgan Unveils New OTC Derivatives Platform Derivclear

JP Morgan's Worldwide Securities Services business, a division of JP Morgan Chase Bank, has launched a centralised OTC derivatives platform DerivClear to support its global derivatives services business.

DerivClear offers an OTC derivatives solution providing trade capture and lifecycle management, confirmation control, settlements and reporting. Clients can access it online for a range of OTC products across multiple asset classes including credit, rates, equity and FX.

Since the JP Morgan/Bear Stearns merger in 2008, the firm has been investing in the development of DerivClear.

Susan Ebenston, global fund services executive for JP Morgan, said: “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.”