Payment news, October 12

J.P. Morgan announces liquidity platform milestone, while Chi-East obtains regulatory approval from the Monetary Authority of Singapore.

J.P. Morgan liquidity platform now live in Asia

J.P. Morgan has announced that its liquidity management platform is now live in Asia. The bank expanded its treasury services in Malaysia and began installing the platform in Australia, China, Hong Kong, India, New Zealand and Singapore earlier this year.

“The financial crisis put a spotlight on the treasurer’s need for visibility and control of global liquidity,” said Randy White, head of J.P. Morgan’s liquidity management business, in a statement. “We’ve made a significant investment in developing a single global platform that delivers the real-time information clients need to make effective liquidity and investment decisions, and the tools to put those decisions into action.”

The liquidity platform will continue to be rolled out in Asia, the US, Canada, Europe and Latin America in 2011.

Chi-East to begin operations with approval from MAS

Chi-East, an independent and non-displayed venue for select securities listed in Australia, Hong Kong, Japan and Singapore, is expected to begin trading in the final quarter this year. The joint venture between Chi-X Global and the Singapore Exchange has been approved as a recognised market operator by the Monetary Authority of Singapore (MAS).

“We are delighted that Chi-East has received regulatory approval to launch Asia’s first exchange-backed, non-displayed trading venue in Singapore,” said Ned Phillips, chief executive of Chi-East, in a statement. “By offering a cost-efficient execution venue combined with efficient clearing and settlement processes, Chi-East should deliver lower trading costs to both our clients and their end investors.”

“Chi-East will play a key role in enhancing the trading infrastructure in this region, thereby stimulating trade flows and deepening liquidity. Singapore Exchange is proud to be part of this innovative venture for our customers,” said Gan Seow Ann, chairman of Chi-East and president of Singapore Exchange added.

Sybase 365 and Western Union ink partnership

Sybase 365, a subsidiary of global mobile messaging and commerce service provider, Sybase, announced an extension of its partnership with Western Union. Western Union is a leading money transfer service provider in Asia-Pacific and has a total of 380,000 agent locations through 200 countries globally. Sybase 365 will support Western Union mobile wallet services.

“In developing markets, enterprises and financial institutions are focused on reducing customers’ dependency on cash and encouraging financial inclusion strategies,” said Matthew Talbot, vice president of mCommerce at Sybase 365, in a statement. “The alliance with Western Union will enable new customers in emerging market economies to more securely and effectively use mobile devices to send money to friends and relatives around the world.”

Western Union recently announced that it will launch a mobile transfer service with the State Bank of India in 2011.

¬ Haymarket Media Limited. All rights reserved.

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