JPMorgan achieves milestone with implementation of Global Market Reference Data central repository to facilitate STP for clients.Business Editors NEW YORK--(BUSINESS WIRE)--July 24, 2002 JPMorgan Investor Services announced today that it has built and put into place a global repository to streamline reference data for improved quality, accuracy and reduced operational risk. This repository enables Investor Services' global custody clients to access superior asset reference data which will assist them in achieving straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. (STP STP or standard temperature and pressure, standard conditions for measurement of the properties of matter. The standard temperature is the freezing point of pure water, 0°C; or 273.15°K;. ). The centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. repository, known as Global Market Reference Data (GMRD GMRD Guards Motorized Rifle Division ), is one of the first of its kind. JPMorgan said that it demonstrates technological innovation and thought leadership by enhancing client service, providing value-added information, and contributing significantly to STP through the improvement of asset data quality. "The successful implementation of GMRD demonstrates our continuing commitment to provide state-of-the-art technology that facilitates straight-through processing for clients and offers them the best data quality and consistency in the marketplace," said Neil Henderson, Funds Services and Securities Processing Executive for Investor Services. "Many companies have tried to build a central repository for reference data and failed. We are very proud to have successfully implemented this incredible technology solution that will enable our clients to do their jobs better." GMRD works by centralizing cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. the capture, cleansing and delivery of asset indicative data--a composite of descriptive information that uniquely identifies a security and how it will operate over time. It thus establishes data consistency Data consistency summarizes the validity, accuracy, usability and integrity of related data between applications and across the IT enterprise. This ensures that each user observes a consistent view of the data, including visible changes made by the user's own transactions and across Investor Services' core applications, leading to greater straight-through processing and operating efficiency. GMRD, which supports 4.5 million securities and actively maintains 1.2 million, enhances Investor Services' data coverage by subscribing to 12 of the top automated data vendor products. It also increases data quality by applying more than 900 business rules to ensure the data meets the requirements of the subscriber applications. While it currently supports only asset indicative data, GMRD will eventually support institution information, prices, asset servicing notifications and client account data. GMRD was launched under Investor Services' global technology architecture program. The application's high-quality security master information is being leveraged for other JPMorgan STP products such as the Concentrator and Instruction Management. "As one of our strategic business process and technology reengineering programs, GMRD was a challenge to launch because of its scale, but the outcomes of our efforts will significantly improve our ability to deliver consistent, quality data across our core applications," said Phil Fasano, Investor Services Global Executive for Technology. Fasano added that the advent of GMRD sends a powerful message to the industry. "It says we are a vigorous technology company with the scale, global breadth, talent and resources to create innovative and flexible technology solutions that are truly the best solutions for our customers." An Investor Services centralized data management unit in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. will provide 24-hour global operation support for the GMRD application. JPMorgan Investor Services is a division of J.P. Morgan Chase & Co., a leading global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm with assets of $741 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, and retail and middle market financial services. A component of the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. , JPMorgan Chase JPMorgan Chase (NYSE: JPM TYO: 8634 ) is one of the oldest financial services firms in the world. The company, headquartered in New York City, is one of the leaders in investment banking, financial services, asset and wealth management and private equity. With assets of $1. is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients. Information about JPMorgan Investor Services is available on the Internet at www.jpmorgan.com/investorservices. |
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