Mondo Visione Worldwide Financial Markets Intelligence

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J.P. Morgan To Provide Clearing Services On UBS MTF For Knight Capital

Date 14/04/2011

J.P. Morgan Worldwide Securities Services today announced that its GlobeClear business has been appointed to provide clearing and settlement services for Knight Capital Europe Limited when executing trades on UBS MTF, the pan-European equities trading venue.  This represents the continuation of J.P. Morgan’s on exchange strategy to offer clients access to multiple exchanges and trading platforms, providing them with greater flexibility and choice.
 
“Our clients want access and solutions that support diverse trading strategies as they look for opportunities across a fragmented market,” said Mike Reece, Market Manager for Banks and Broker Dealers for J.P. Morgan Worldwide Securities Services EMEA. “Providing clearing and settlement services for Knight on UBS MTF represents another important step in our market coverage and provides our clients with even more choice.”
 
Robert Barnes, CEO of UBS MTF, said: “UBS MTF aims to provide participants with the benefits of choice, fair access and innovation, which led us to establish, among other unique features, our CCP model. Through J.P. Morgan’s GlobeClear, members will find it easy to connect to UBS MTF through a major GCM, accessing cost-efficient matching of multi-country shares spanning blue chips to small caps, ETFs and more.”
 
Kee-Meng Tan, Managing Director, Knight Capital Europe Limited, said: “J.P. Morgan has been a long-standing partner for our European clearing and settlement needs and we are pleased that they will be extending their services to support our trading activity on UBS MTF.”
 
GlobeClear supports over 50 trading venues, providing access to the major European exchanges and MTFs.  It provides global clearing and settlement agency services covering fixed income and equity securities for banks, brokers and hedge funds that trade in the global markets.