jp-morgan-launches-asia-offshore-clearing-service

J.P. Morgan launches Asia offshore clearing service

The new service will help expedite the time it takes to process payments from initiation to settlement.
J.P. Morgan has launched a new offshore clearing service in Asia, which will enable transactions to be cleared within the trading and clearing times that apply to the local currency.

The service will enable clients to keep liquidity in the region, clear in multiple regional infrastructures, concentrate their accounts and benefit from same-day finality, the bank said.

Rising intra-regional payment flows is a noticeable trend in the markets. These flows are growing much faster than the payment flows between the US and Asia and between Europe and Asia,ö says Simon Jones, managing director and regional product executive for J.P. Morgan's Treasury Services, Asia-Pacific.

ôClients increasingly want to be able to efficiently clear dollar payments within...
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