Bank Systems & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Core Systems

11:30 PM
Connect Directly

J.P. Morgan Signs on for DTCC’s Loan/SERV to Automate Syndicated Loan Services

J.P. Morgan (New York) has signed on for The Depository Trust & Clearing Corporation's (DTCC) (New York) Loan/SERV and will begin using the new suite of services to automate and streamline the processing of their syndicated commercial loans.

DTCC has been working with a group of global banks for support and guidance in the development and launch of Loan/SERV products on a global basis. These banks are The Bank of New York Mellon, Barclays Capital, Citi, Deutsche Bank and The Royal Bank of Scotland. With J.P. Morgan, these banks historically account for more than a third of the global syndicated loan market, according to Childs.

DTCC also works with a European consultation group, which includes 12 European agent banks, five fund managers and three major custodian/trustees, to assist with the European development and deployment of Loan/SERV later in 2008.

The Depository Trust & Clearing Corporation (DTCC), through its subsidiaries, provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities, money market instruments and over-the-counter derivatives. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with financial firms and third parties who market these products. DTCC's depository provides custody and asset servicing for more than 3.5 million securities issues from the United States and 110 other countries and territories, valued at $40 trillion. Last year, DTCC settled more than $1.8 quadrillion in securities transactions. DTCC has operating facilities in multiple locations in the United States and overseas.

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.