JP Morgan Treasury Services becomes direct clearer



JP Morgan Treasury Services has announced that it has become a Tier 1 direct clearer within the Australian direct entry payments system.
The company said the Tier 1 status within the Australian Payments Clearing Association would be effective from the third quarter of this year, and would enhance JP Morgan’s domestic processing capability – with the firm no longer required to clear low value electronic payments through a third party clearing bank.
Commenting on the achievement, JP Morgan head of treasury services in Australia and New Zealand Nadia Shiavon said the Tier 1 status would deliver significant benefits to clients.
She said these benefits included improved daily cut-off times, the introduction of additional exchanges with the market, and a resilient transaction processing framework.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.