J.P. Morgan joins with Calastone for money market funds

J.P. Morgan Asset Management has partnered with Calastone, the largest global funds network, to introduce new levels of automation to money market funds via its Morgan Money trading platform.

The asset manager will initially use Calastone to enhance its entire settlements process, bringing automated settlements to their platform. Morgan Money will be the first in the market to offer automated settlements to its users via Calastone’s technology.

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

Calastone chief revenue officer, Ed Lopez, said: “Traditional models remain under immense pressure and have very quickly been seen to come up short. 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.”

“To see J.P. Morgan share in our vision and champion innovation is fantastic – and it gives us even greater confidence of the real potential for how far our money markets services can go long-term,” he said.