JP Morgan to deploy Calastone tech for automated settlement
JP Morgan has signed a partnership agreement with Calastone which will see it deploy the latter’s technology to enhance its settlements processes.
The global bank’s Morgan Money trading and analytics platform will deploy Calastone’s software, which the two claim will make it the only one on the market providing automated settlement.
Calastone and JP Morgan are existing partners, with the technology firm providing its automation services to the bank’s global funds.
Calastone claims that its software digitalises the investment and reporting process for money market portals, fund providers and investors.
“Morgan Money has been designed to deliver a best in class customer experience, centred on seamless integration and operational efficiency,” says Paul Przybylski, product strategy and development at JP Morgan Asset Management.
“With that in mind, we are excited to partner with Calastone to bring automated settlements to the platform, allowing our users to settle trades in real time, with automated trade workflow, initiated from one Morgan Money platform.”
“Traditional models remain under immense pressure and have very quickly been seen to come up short,” says Ed Lopez, chief revenue officer at Calastone.
“The key to managing this new post-COVID world, and to staying attractive in it, sits in embracing new, smart technologies – and making the switch from manual to automated.”