JP Morgan Asset Management has partnered with the global funds network Calastone to increase the automated settlement of its money market funds.

In an industry first, the Morgan Money platform will enable its users to settle trades in real time, via an entirely automated process, offering, what it claims will be “best in class user experience”.

Calastone digitalises the investment and reporting process for money market portals, fund providers and investors. The service enables high levels of automation, comprising of trade placement, settlement, reporting and cash balance sweeps.

According to a joint statement from both companies, the current pandemic has “heightened the need to adopt greater levels of automation amongst fund providers and their investors”.

Ed Lopez, Calastone’s chief revenue officer, said: “The key to managing this new post-Covid world, and to staying attractive in it, sits in embracing new, smart technologies – and making the switch from manual to automated."

Paul Przybylski, head of product strategy and development at JP Morgan Asset Management, said: “We are excited to partner with Calastone to bring automated settlements to the platform, allowing our users to settle trades in real time, with automated trade workflow, initiated from one Morgan Money platform.”

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