Corporate & Investment Bank

Foreign Exchange (FX) Services

J.P. Morgan is one of the world's leading banks in the $3.2 trillion a day foreign exchange market. J.P. Morgan offers a variety of FX services, including:

Automated FX Services

J.P. Morgan's automatic foreign exchange service, AutoFX, is a convenient alternative to dealing directly with an FX desk and is designed for clients who value flexibility and convenience along with competitive rates.

It enables existing J.P. Morgan accounts to be used for executing FX payments, receipts and drafts without the need to book and confirm an FX rate. It combines J.P. Morgan's FX and global funds transfer capabilities to provide convenient processing of FX payments without the need for a client to establish FX lines.

The key features of AutoFX are:

  • No FX credit required - payments are made from clients' available balances
  • Payments can be made and funds received in a wide range of currencies without opening or managing additional accounts
  • A streamlined and automated process without need for formal booking and confirmations
  • Operational and settlement risk is reduced with direct processing
  • Ability to initiate FX payments from virtually any location using J.P. Morgan's internet banking or host to host payment processing channels

The key benefits of AutoFX are that it:

  • Reduces cost
  • Streamlines operations
  • Requires minimal or no system changes
  • Is flexible and convenient
  • Uses competitive rates provided directly by the dealing room

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Desk-based Foreign Exchange (Direct Dealing)

J.P. Morgan's Direct Dealing FX service delivers a comprehensive product range including spots, forwards, options, non-deliverable forwards, cross-currency swaps. These services are geared towards more sophisticated clients who need advice and broad access to a range of currencies, products, time zones and risk management strategies. This service therefore includes:

  • Market-leading economic, fundamental and technical analysis
  • Research-based information, strategies and recommendations
  • 24-hour coverage with dealing operations
  • Broad range of exotic currency capabilities
  • Innovative currency options services, fully integrated with J.P. Morgan's spot and forward FX operations

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Online Foreign Exchange Trading

J.P. Morgan's Foreign Exchange trading platform, MorganDirect, is for corporate treasuries looking for a fully functional FX trading system. MorganDirect gives clients the power to efficiently execute FX transaction online using a firm streaming price.

 

MorganDirect

 

MorganDirect's features include:

  • Executable streaming rates for Spot, Forward and Swap FX transactions
    Streaming Rates
  • Optional partial fills, dynamic display of orders in progress and the ability to modify at any time
    Dynamic Display
  • Convenience of single or double click trading and personalised trade size warning limits
  • Electronic order book for execution against J.P. Morgan's firm streaming prices
  • User friendly order management blotter including orders-in-progress, cancel-all and export-all functions
    Order Management Blotter
  • Customised reporting with full audit trail of every single request/trading action, trade blotter and position blotter
  • Secure encryption and online customer hotline
  • Designed to efficiently remain 'always on top' if desired
  • Ability to leave and monitor spot orders remotely with Blackberry
  • Fractional pricing providing precision pricing with the addition of an extra decimal place
  • Comprehensive task bar providing confirmation of orders executed, requested and active, with the ability to modify live orders
  • Block trading functionality

The benefits of MorganDirect are that it:

  • Enables clients to efficiently execute FX transactions online
  • Gives clients the ability to execute on a fractional price
  • Offers convenience and customisation to the client
  • Involves no usage or transactions fees

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