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.
With sticky inflation plaguing Australian and global markets, super funds have seen their first negative monthly return since October 2023.
There were 25 winners at the first-ever Australian Wealth Management Awards, held in Sydney last night.
Over 90 finalists have been chosen to compete at the 36th annual Fund Manager of the Year Awards.
The asset manager is bolstering its investments in the global energy transition and climate opportunities.
Add new comment