Clearance & Collateral Management

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U.S. Clearance

Accurate, rapid settlements, day-in and day-out
As the number one clearing bank for U.S. government securities, J.P. Morgan settles, on average, over 110,000 trades daily and more than triple that volume at peak times. To consistently expedite such high transaction volumes, J.P. Morgan offers a dependable, rapid trade settlement system that moves book-entry deliveries within seconds to the Federal Reserve Bank of New York. Known as the Broker Dealer Automation System (BDAS), this system offers our customers the level of automation required to expedite trades efficiently and accurately. Not only does BDAS facilitate quick turnaround, it provides user-friendly commands to expedite the handling of exception items such as unmatched receives, DK’s and partial trades. It also provides end-of-day reports, a wide variety of intra-day queries and the ability to initiate funds transfers and book transfer payments.

Automated settlements, maximize efficient trading
The J.P. Morgan BDAS system provides clients with flexible options to accommodate a variety of settlement activity. By directing the BDAS system to indicate “autosettle” and “automatch” options, the system will automatically determine pairoffs with appropriate contraparties. BDAS also provides intra-day summary totals by contraparty that also help facilitate netting activities. Upon viewing the options provided by BDAS, you can make the final determination of settlement strategies that work best for you. The exceptional speed of the BDAS system will also allow you to react to securities that are arriving late or other late occurring conditions. As such, failed trades and intra-day borrowing situations are brought to your attention the moment they arise.

Worldwide access, from Wall Street to London Wall
Our clearance services can be accessed on a global basis regardless of time zone differences. By using our proprietary global communications system, clients can initiate trading activity from any location in the world.

Contact Info

U.S. Clearance Contacts »