NEW YORK - (Business Wire) J.P. Morgan Worldwide Securities Services today announced that its GlobeClear business has been selected to provide securities clearing and settlement services for foreign trades to J.J.B. Hilliard, W.L. Lyons, LLC (Hilliard Lyons). Based in Louisville, KY, Hilliard Lyons is a full-service financial services firm, offering comprehensive service and advice with an extensive menu of investments, including professionally managed accounts by the country’s premier managers, in addition to stocks, bonds, options, mutual funds, annuities and insurance, to facilitate the strategies recommended by its network of more than 400 financial consultants. J.P. Morgan’s GlobeClear will provide clearance and settlement for foreign trades for Hilliard Lyons’ retail investors in 25 markets. Hilliard Lyons previously had a U.S. government clearance relationship with J.P. Morgan. Now Hilliard Lyons will clear all U.S. government and foreign securities with J.P. Morgan.
“The simplicity and ease of one contact and one clearing agent – no matter how many markets our clients are in today or plan to be in tomorrow – solidified this deal” said Bob Doll, director of operations at Hilliard Lyons.
Tony Amato, vice president and manager of securities processing at Hilliard Lyons, added, “We are also pleased that as a result of this deal, Hilliard Lyons gains access to a number of new technological conveniences, such as online intraday settlement reports and online corporate action elections.”
“We look forward to extending our relationship with Hilliard Lyons,” said Kelly Mathieson, global head of clearance and collateral management for J.P. Morgan Worldwide Securities Services. “This deal helps demonstrate that regional investment firms can benefit from the same clearing functionality and expertise that J.P. Morgan can offer its larger multinational broker dealer clients.”
For more information about GlobeClear, please visit www.jpmorgan.com/globeclear. GlobeClear enables clearance for over 30 exchanges and more than 65 OTC markets – including Federal Reserve and DTCC clearance – through a single access point.
About Hilliard Lyons
Founded in Louisville, Kentucky in 1854, the firm has a long and distinguished history in the American marketplace. Hilliard Lyons operates 70 branches in 13 states. The firm’s Financial Consultants use original and purchased research tools and state-of-the-art software -- coupled with their own knowledge and experience -- to advise their clients through the financial challenges that life brings. Hilliard Lyons is a member of the New York, American and Chicago stock exchanges, the Financial Industry Regulatory Authority (FINRA), and the Securities Investors Protection Corp. (SIPC).
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $14.9 trillion in assets under custody and $5.1 trillion in funds under administration. For more information, go to www.jpmorgan.com/visit/wss.
About J.P. Morgan Chase & Co.
J.P. Morgan Chase & Co. (NYSE: JPM), is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, J.P. Morgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about J.P. Morgan Chase & Co. is available at www.jpmorganchase.com.
Media:
J.P. Morgan
John Johmann, 212-270-8371
john.johmann@jpmorgan.com
