Chase Selected by J.P. Morgan as its Euro Cash Management Supplier
This represents one of the first contracts of this size to be won by an international bank involving euro banking services. Chase’s centralised euro hub, in Frankfurt, will give J.P. Morgan direct access to the real-time and net settlement systems in Germany and France, as well as CHAPS euro in the UK and the Euro Banking Association’s (EBA) euro clearing system. Other clearing systems in the euro zone will be accessed via TARGET. This arrangement offers in-depth contingency and provides flexible intraday liquidity management capabilities.