In February 2023, J.P. Morgan’s Securities Services announced the successful completion of the company’s migration to direct market access in the Danish capital markets via Euronext Securities Copenhagen. One year on, the two companies can reflect on a first step that laid the groundwork for harmonisation and increased efficiency, shortening the value chain between issuers and investors.
“We’re all interested in maintaining market stability and efficiency when we embark on these types of migrations,” comments Niels Hjort Rotendahl, CEO at Euronext Securities Copenhagen. “This shared focus provided an excellent foundation for our cooperation and helped us ensure J.P. Morgan’s smooth transition to direct market access. This has been an excellent example of how Euronext Securities supports custodians in getting closer to the capital markets and infrastructure.”
Tom Casteleyn, Head of Global Custody EMEA at J.P. Morgan agrees, stating, “Providing our customers’ with efficient and secure access to the capital markets is our ultimate goal. Our cooperation with Euronext Securities Copenhagen has enabled J.P. Morgan to bring efficiencies for our clients, and enhance our growth plans across the Nordic Region.”
Danish model paves the way for further harmonisation
During 2023, the two companies also worked on a joint project to transition J.P. Morgan from an indirect participant set-up to a direct participant set-up on the T2S platform. “With the close partnership with Euronext Securities Copenhagen, J.P. Morgan has been able to evolve its connection in the Danish market” Tom Casteleyn explains. “By having a direct link to T2S, we are future proofing our settlement messaging and setting ourselves up for subsequent synergies.”
According to Niels Hjort Rotendahl, this method of reusing solutions across different markets is a core part of Euronext Securities’ convergence strategy. “We really enjoy these types of collaborations because we develop solutions together with our customers,” he says. “We want to make it easier for our customers to access the European capital markets, and taking a process that’s tested and proven locally and scaling it across multiple markets is an excellent way of doing so.”
For more information, please contact Henrik Ohlsen, Customer Relations & Sales Director.
- Phone number: +45 2910 1202
- Email address: HOhlsen@euronext.com