J.P. Morgan Enhances U.S. Dollar Clearing – Asia Direct Solution

Enhancements further strengthen market leading service

Osaka, October 25, 2012 – J.P. Morgan Treasury Services today announced a range of enhancements to its U.S. Dollar Clearing – Asia Direct solution, further assisting clients seeking fast and efficient means of making and receiving U.S dollar payments to and within Asia. As a result of the enhancements, the reach of the solution has expanded four-fold. 

The enhancements deploy J.P. Morgan’s state-of-the-art technology to optimize routing and further integrate with J.P. Morgan’s leading Book Transfer capabilities. Asia Direct automatically determines the quickest route to make payments to Asian beneficiary banks. Clients now enjoy greater reach for expedited payments to more than 25,000 sub-branches across China, Hong Kong, Taiwan, Japan and the Philippines. In addition, the enhancements to the U.S. Dollar Clearing – Asia Direct solution provide clients with additional options in determining payment qualification, translating to improved payment flexibility and customization in implementing the service. 

Thomas Wiles, Head of Clearing and Foreign Exchange, Asia Pacific for J.P. Morgan Treasury Services, said: “Our clients are looking for efficiency and assurance of same-day settlement of payments to and within Asia. Asia Direct, which seamlessly integrates the leading reach of J.P. Morgan’s Book Transfer capabilities with local U.S. dollar clearing systems across Asia, is designed to provide a singularly effective and far-reaching way to meet these needs. We have already seen great confidence in this product, with volumes ramping up almost 60 percent over the last year, and expect the recent enhancements to accelerate this even further.”  
The U.S. Dollar Clearing – Asia Direct solution allows clients to leverage J.P. Morgan’s latest technology, strong client relationships and access to multiple clearing systems to expedite payments to beneficiary banks in China, Hong Kong, Japan, Taiwan and the Philippines from a single USD account in the U.S. This leads to reduced delays, maximized liquidity efficiency, efficient payment processing and simplicity of implementation. The enhancements to U.S. Dollar Clearing – Asia Direct are part of J.P. Morgan Treasury Services’ ongoing investment in systems, innovation and services designed to benefit its clients around the world.

J.P. Morgan Treasury Services is a business that resides within J.P. Morgan’s Corporate & Investment Bank (CIB).

About J.P. Morgan Treasury Services
J.P. Morgan’s Treasury Services business is a full-service provider of innovative cash management, trade, liquidity and escrow services -- specifically developed to meet the challenges treasury professionals face today.   More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their business to J.P. Morgan.  J.P. Morgan Treasury Services is one of the world's largest providers of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts.

About J.P. Morgan’s Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18.2 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world.  Further information about J.P. Morgan is available at www.jpmorgan.com.

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