ASX OTC Client Clearing Launched by J.P. Morgan

ASX OTC Client Clearing Launched by J.P. Morgan

ASX OTC Client Clearing Launched by J.P. Morgan

The FINANCIAL -- 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.

ASX 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.