J.P. Morgan Securities, LLC receives AA-/A-1+ rating
Jul 14, 2011
New York, — J.P. Morgan announced today that credit rating agency Standard & Poor’s has rated J.P. Morgan Securities LLC (JPMS), the firm’s primary trading U.S. Broker-Dealer and Futures Commission Merchant, as AA-/A-1+.
“This standalone rating reflects the financial strength and strategic importance of JPMS as a regulated operating entity,” said Carlos Hernandez, Global Head of Equities for J.P. Morgan, which includes prime services and the futures commission merchant. “We expect that it will reinforce client confidence when engaging J.P. Morgan in trading and clearing activities and will further enhance the firm’s brand, and position us to grow our business in an increasingly competitive marketplace.”
JPMS converted from a Delaware corporation to a limited liability corporation as part of a routine internal restructuring in September 2010. The conversion was unrelated to any changes in J.P. Morgan’s business or to financial regulatory reform. J.P. Morgan Futures, Inc. then merged with the broker-dealer on June 1, 2011, creating a combined Broker-Dealer/Futures Commission Merchant.