JPMorgan at the forefront of Continuous Linked Settlement

A leader in the provision of cash management services to financial institutions and companies in Asia, JPMorgan is at the forefront of the introduction of the global Continuous Linked Settlement (CLS) initiative. Due for launch in the third quarter of 2002, CLS promises to remove the risk in settling cross border foreign currency transactions by providing instantaneous settlement of several key currencies through a network of member banks linked electronically around the globe. JPMorgan is one of 70 shareholders in the initiative and will be rolling out the CLS service to its clients in Asia and the rest of the world.