ASX and J.P. Morgan today announce that J.P. Morgan is the first ASX OTC Clearing participant to launch an agency clearing service for Australian and New Zealand dollar denominated OTC derivatives, having successfully cleared a trade for one of its clients.
ASX operates a fully developed OTC Clearing service, providing global standard API connectivity, 24-hour clearing, AUD and NZD product coverage, and a fully automated cross-margining facility.
Today confirms the first cleared client transaction. ASX’s dealer to dealer service has been in operation since 2013, clearing $6.3 trillion in notional value last financial year.
Helen Lofthouse, Executive General Manager Derivatives and OTC Markets at ASX, said: “J.P. Morgan’s access to ASX’s OTC Client Clearing service demonstrates its [JPM’s] commitment to providing the best solutions for its clients. It also shows ASX’s determination to develop services valued by the market, which includes local clearing that’s open throughout the Australian and New Zealand time zone.”
Please see the attached announcement for further information.
