JPMorgan Chase & Co.'s (NYSE:JPM) J.P. Morgan Asset Management penned a deal to enhance its Morgan Money offering through a strategic partnership with GLMX, a global money market trading platform.
Morgan Money is a global trading platform that provides effective short-term investment management solutions tailored for institutional investors.
With $313 billion in assets under management as of June 30, 2024, the platform facilitates efficient liquidity and cash investment management, allowing clients to maximize outcomes with fewer resources.
This collaboration allows clients to access GLMX's advanced trading technology directly, broadening their short-term investment options.
The integration offers a comprehensive suite of money market instruments, including money market funds, repurchase agreements, time deposits, CDs, commercial paper, and government securities.
Glenn Havlicek, CEO and Co-founder of GLMX, said, "This collaboration with J.P. Morgan Asset Management is a result of investors' desire to access the entire investable universe of short-term instruments with a seamless experience."
"We bring GLMX's $3 trillion ecosystem to J.P. Morgan's client base as we seek to collaborate with industry leaders to provide innovative and easily accessible solutions for our collective clients."
Also Read: JP Morgan Takes Stake In Australian Casino Operator Star Entertainment: Details
Last week, J.P. Morgan expanded its Canadian business with the launch of two active ETFs on the Toronto Stock Exchange.
Investors can gain access to the stock via iShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).
Price Action: JPM shares are down 0.07% at $210.78 at the last check Tuesday.
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