Jpmorgan Announces Successful Pilot of Announcement Capture
Boston, 3 October 2007 - JPMorgan Worldwide Securities Services today announced it has successfully completed a pilot program of Announcement Capture, which captures global corporate actions announcements from multiple sources and generates a "golden record".
Announcement Capture is part of JPMorgan's global straight-through processing program to standardise, consolidate and deliver timely, comprehensive and accurate corporate actions announcement information to clients.
The service collects and compares global corporate actions announcements from a variety of sources. If there are no discrepancies between the sources and full validation checks are met, the information is passed on as the "golden record" (an accurate depiction of the corporate action) in SWIFT formats, thus achieving high straight-through processing rates for clients. If there is a discrepancy between sources, a member of JPMorgan's corporate actions team in Bournemouth will contact Issuers and local market information providers to resolve the difference and agree the "golden record".
David Kane, JPMorgan Worldwide Securities Services' Operations Executive, said: "Formulating the golden record of a corporate action historically has been a labour-intensive process. JPMorgan developed Announcement Capture to achieve the highest possible quality and STP rates when creating the record for our clients. Now that the pilot program has been a success, we are rolling out Announcement Capture across the 90-plus markets where we support our clients' investments."
About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $15.2 trillion in assets under custody. JPMorgan provides innovative custody, fund accounting and administration and securities services to the world's largest institutional investors, alternative asset managers and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 90 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services. For more information, please visit www.jpmorgan.com/wss.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.5 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.
Media Contact:
Juliana Wheeler
+44 (0) 20 7325 5755
Juliana.R.Wheeler@jpmchase.com