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

It will initially use Calastone to enhance the entire settlements process, becoming the first in the market to offer automated settlements to its users.

Calastone digitalises the investment and reporting process for money market portals, fund providers and investors. The service comprises trade placement, settlement, reporting and cash balance sweeps.

Calastone already enables trade automation for JPMorgan funds globally, but this new partnership enables Morgan Money to leverage new features.

Ed Lopez, Calastone’s chief revenue officer, commented: “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."

Paul Przybylski, head of product strategy and development at JPMorgan Asset Management, added: “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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