J.P. Morgan Launches DerivClear™

London, April 1, 2010 – J.P. Morgan’s Worldwide Securities Services business today announced it has launched DerivClear™, a centralised OTC derivatives platform supporting its Global Derivatives Services business. A number of existing clients have already migrated to the new platform.

Building on J.P. Morgan's leadership in OTC derivatives processing, DerivClear™ offers an end-to-end OTC derivatives solution providing trade capture and lifecycle management, confirmation control, settlements and reporting. Clients can access it online for a wide range of OTC products across multiple asset classes including credit, rates, equity and FX.

“With the OTC industry undergoing significant change, clients are required to review their infrastructure to address new connectivity, reporting and timing challenges,” said Susan Ebenston, Global Fund Services Executive for J.P. Morgan.  “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.”

Since the J.P. Morgan/Bear Stearns merger in 2008, the firm has been strategically investing in the development of DerivClear™. The platform was awarded 'The Banker' magazine's Innovation in Custody and Settlement Technology award for 2009 and currently has over 10 clients live, with substantial growth through new clients and migrations planned in the coming months.

About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of J.P. Morgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $14.9 trillion in assets under custody and $6.5 trillion in funds under administration. For more information, go to www.jpmorgan.com/visit/wss.
  
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.