POWERED BY MOMENTUM MEDIA
J.P. Morgan obtains tier 1 direct clearer status
J.P. Morgan Treasury Services has announced that it has become a tier 1 direct clearer within the Australian Payments Clearing Association.
Effective in the third quarter this year, the firm stated that its tier 1 status will enhance its domestic processing capability by improving daily cut-off times and introducing additional exchanges within the market.
The firm added that its low value electronic payments will no longer be required to be cleared through a third party clearing bank.
J.P. Morgan head of treasury services Australia and New Zealand Nadia Schiavon said the status gives the firm "a head start on meeting a range of new industry imposed intra-day settlements" which are due to come into force in 2013-14.
Recommended for you
Infrastructure well-positioned to hedge against global uncertainty, says investment chief.
The fund manager remains positive on the outlook for gold and believes ongoing market volatility will provide opportunities to acquire small-cap stocks in promising sectors.
T. Rowe Price Group VP said investment strategies must adapt to an ageing population, as Australians outlive their retirement savings.
The international asset manager expects AI will reach a point in the near future where it can autonomously manage investments within certain parameters set by fund managers.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.24 3 y p.a(%)
4
Pengana High Conviction Equities B
40.36 3 y p.a(%)
5
Pengana High Conviction Equities A
40.34 3 y p.a(%)
