Otkritie Uses JP Morgan for Clearing and Settlement Services on Chi-X
Otkritie Capital, the Russian financial services group, will use JP Morgan Worldwide Securities Services’ GlobeClear business to provide clearing and settlement services when executing trades on Chi-X Europe, a pan-European equities exchange.
“We are seeing increasing interest in the Russian depositary receipts market as clients look to broaden their trading strategies and associated connectivity. Otkritie’s membership of Chi-X Europe will help them meet this demand for trading depositary receipts listed overseas,” said Mike Reece, market manager for banks and broker dealers for JP Morgan Worldwide Securities Services Europe, Middle East and Africa (EMEA). “GlobeClear provides clients with access to multiple markets and ever greater freedom and flexibility in their trading needs. We look forward to working with Otkritie and helping their clients to access new pools of liquidity.”