J.P. Morgan Worldwide to Clear Knight Capital's Trades on UBS MTF

Providing clearing and settlement services on UBS MTF continues JPM's strategy to offer access to multiple exchanges and trading platforms.

J.P. Morgan Worldwide Securities Services said its GlobalClear business was hired to provide clearing and settlement services for Knight Captial Europe Limited when executing trades on pan-European equities trading venue UBS MTF.

This continues J.P. Morgan’s on-exchange strategy to offer clients access to multiple exchanges and trading platforms, providing them with increased flexibility and choice.

“Our clients want access and solutions that support diverse trading strategies as they look for opportunities across a fragmented market,” commented 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,” further stated Reece. In the same release, 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 (global clearing member), accessing cost-efficient matching of multi-country shares spanning blue chips to small caps, ETFs and more.”

According to Knight Capital Europe’s Managing Director Kee-Meng Tan, who is quoted in the release, J.P. Morgan has been a long-standing partner for our European clearing and settlement need, and now it will be extending their services to support Knight’s 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.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio