The award is given each year following a continual review process of industry suppliers undertaken by JPMorgan Chase Bank. It is designed to identify and reward companies that have demonstrated specific levels of operating excellence.
The review was undertaken in 2005. It showed that Clearstream had met its operating challenges and exceeded the stringent criteria for the ‘MT202 Quality Recognition Award’ with a 99.46 percent straight-through processing (STP) rate for its funds transfer operations area.
JPMorgan Chase Bank has been awarding Institutions and Corporates with the ‘Quality Recognition Award’ since 1997. According to JP Morgan Chase, less than 1% of their total funds transfer clients were able to meet the criteria to qualify for the award.
Matthias Ganz, Chief Operating Officer, Deutsche Börse Group said, “This award, for the seventh consecutive year, is a recognition that the quality of service is a key word for Clearstream. We are particularly pleased to see our continuous efforts being appreciated by key customers. We will continue to work on improving our performance in order to keep our customers satisfied.”
