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J.P. Morgan approved by the Taiwan Futures Exchange to provide settlement services

Jan 12, 2009

Taipei, 12th January 2009 — J.P. Morgan announced today that it has been granted approval by the Taiwan Futures Exchange (TAIFEX) to provide settlement services for futures and options transactions.

TAIFEX offers futures and options contracts for major Taiwan stock indices, government bonds, equities, interest rates, and commodities. TAIFEX is in a unique position to provide investors with highly efficient services for the expansion of their product lines and market scale, and the deployment of high-performance trading systems.

Pursuant to this arrangement, J.P. Morgan will provide TAIFEX with a fully integrated host-to-host platform to facilitate seamless and secure settlement processing. The platform is supported by a rigorous business continuity plan and allows easy access to detailed customised reports. The web-based user interface is also designed to enhance the users’ experience.

J.P. Morgan became the first foreign clearing member of TAIFEX in 2006. Acting through its Treasury Services business, J.P. Morgan is now one of the two foreign banks to provide TAIFEX with settlement services. J.P. Morgan’s position as a global leader in settlement, its strong credit rating and quality customer service will also attract more foreign investors and facilitate their settlement requirements in Taiwan futures market.

Simon Jones, Asia Pacific head of J.P. Morgan Treasury Services, said: “We are pleased to support TAIFEX’s settlement process. We believe that our expertise combined with our complete suite of account receivables and liquidity management services will also strengthen the internal control and liquidity efficiency among our customers.”

“This agreement also represents an important step for our expansion plans in Taiwan. We are looking to strengthen our position in-country by providing settlement, clearing and cash management solutions to local Futures houses in Taiwan,” added Jones.

J.P. Morgan leverages the services and products of its Worldwide Securities Services division, as well as its Investment Bank and Asset Management lines of business to provide its customers with one-stop solutions.