NEW YORK and LONDON (MO.Properties) – J.P. Morgan Asset Management has partnered with Calastone, the largest global funds network, to introduce new levels of automation to money market funds via its “Morgan Money” trading platform.
The global leader in investment management – with assets under management of $1.9 trillion – will initially use Calastone to enhance its entire settlements process, bringing automated settlements to their platform. Morgan Money will be the first in the market to offer automated settlements to its users via Calastone’s innovative technology.
Calastone digitalises the investment and reporting process for money market portals, fund providers and investors. The service enables the highest levels of automation, comprising of trade placement, settlement, reporting and cash balance sweeps.
Today’s announcement strengthens the relationship between the two the firms. Where today Calastone enables trade automation for JP Morgan funds globally, this new partnership enables Morgan Money to leverage new features, including automated settlements, which enhance the service available to its users.
The current pandemic has heightened the need to adopt greater levels of automation amongst fund providers and their investors. Calastone’s solution provides a fully digitalised market ecosystem offering firms greater immediacy, accuracy and certainty of execution through automated workflows. Through this partnership, Morgan Money is able to provide customers with industry leading experience, optimised for current and future market needs.
Dan Kramer, Calastone’s Vice Chair, Americas
“We are delighted to welcome JP Morgan onto our new suite of Money Markets Services – and as the first to make automated settlements available to their users. Now more than ever, it is essential for fund providers to stay competitive, attractive and meet the future needs of investors. We are thrilled that, through our technology, we can help JP Morgan provide its users with a market-leading customer experience across Europe, USA, Asia and other global markets.”
Ed Lopez, Calastone’s Chief Revenue Officer, comments;
“Traditional models remain under immense pressure and have very quickly been seen to come up short. The key to managing this new post-COVID world, and to staying attractive in it, sits in embracing new, smart technologies – and making the switch from manual to automated. To see JP Morgan share in our vision and champion innovation is fantastic – and it gives us even greater confidence of the real potential for how far our Money Markets Services can go long term.”
Paul Przybylski, Head of Product Strategy and Development at J.P. Morgan Asset Management adds;
“Morgan Money has been designed to deliver a best in class customer experience, centred on seamless integration and operational efficiency.
“With that in mind, we are excited to partner with Calastone to bring automated settlements to the platform, allowing our users to settle trades in real time, with automated trade workflow, initiated from one Morgan Money platform.”
Calastone is the largest global funds network, connecting the world’s leading financial organisations.
Our mission is to help the asset management industry transform by creating innovative new ways to automate and digitalise the global investment funds marketplace, reducing frictional costs and lowering operational risk to the benefit of all. Through this, we generate the opportunity for the industry to deliver greater value back to the end investor.
Over 2,100 clients in 42 countries and territories benefit from Calastone’s services, processing £190 billion of investment value each month.
Calastone is headquartered in London and has offices in Luxembourg, Milan, Hong Kong, Taipei, Singapore, New York and Sydney.
About Morgan Money
Launched October 2019, Morgan Money combines open-architecture access to top managers worldwide with cutting-edge technologies from across J.P. Morgan Chase. The result is a powerful online tool that enables users to easily view accounts, efficiently execute trades and effectively manage risks. For more information visit www.jpmorgan.com/morganmoney
About J.P. Morgan Global Liquidity
J.P. Morgan Asset Management – Global Liquidity is the largest global provider of institutional short-term fixed income solutions, with $773.4B billion in assets under management as of March 31, 2020. The dedicated global team of liquidity professionals, with over 30 years of money market experience through all market cycles, works with clients to build effective short-term fixed income solutions using rigorous credit and risk management combined with access to J.P. Morgan Global Liquidity’s global resources and expertise. www.jpmgloballiquidity.com
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of $1.9 trillion (as of March 31, 2020), is a global leader in investment management. J.P. Morgan Asset Management’s clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. J.P. Morgan Asset Management is the marketing name for the asset management businesses of JPMorgan Chase & Co. (NYSE: JPM), and its affiliates worldwide. www.jpmorgan.com/am