London, 3 August 2004 - JPMorgan Chase Bank today announced the launch of COMET2, its enhanced collateral optimisation platform. Now live with several clients, COMET2 enables broker-dealers to allocate assets within their portfolios more efficiently to enhance the value from their collateral.
Rajen Shah, global head of collateral management at JPMorgan, said, "Broker-dealers seek to maximise the use of less liquid assets to enhance returns, while also meeting lenders' rules governing eligibility, asset concentration, volatility and quality of collateral. COMET2 adds liquidity by satisfying both requirements."
While predecessor product COMET1 was able to allocate assets in just over an hour, the improved speed of COMET2 can enable broker-dealers with a significant client base to optimise their entire portfolio from initial request to movement settlement in minutes. In addition, the increased flexibility of COMET2 allows JPMorgan clients to more actively manage their portfolios across multiple counterparts.
For more information please contact:
Stefanie Davidson/Liz Larvin
+44 (0)20 7832 0800