JPMC and ABN add CLS clients

PFI selected JP Morgan as its CLS provider in April and began live trials on May 31. “It was key for us to be able to participate in the next quarterly settlement at the CME [Chicago Mercantile Exchange] and the NYCC [New York Clearing Corporation],” said Michael Murwill, first vice-president at PFI.

PFI achieved this goal and completed settlement with the CME and the NYCC on June 16.

Brian Wedge, global product manager for CLS at JP Morgan Treasury Services in London, said he believed the speed