JP Morgan To Provide Clearing and Settlement Services For Otkritie On Chi-X Europe

JP Morgan Worldwide Securities Services' GlobeClear business has been appointed to provide clearing and settlement services for Otkritie Capital (Otkritie), the Russian financial services group, when executing trades on Chi-X Europe, the pan-European equities exchange.

Mike Reece, market manager for banks and broker-dealers for JP Morgan Worldwide Securities Services EMEA, says his firm is seeing increased interest in the Russian depositary receipts market, as clients look to broaden their trading strategies and associated connectivity.

GlobeClear supports over 50 trading venues, providing access to the major European exchanges and MTFs. It provides clearing and settlement agency services covering all fixed income and equity securities for banks, brokers and hedge funds that want to trade in the global markets.

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