JPMorgan has launched FXPrime, an automated foreign exchange prime brokerage service aimed at hedge funds, pension funds, banks, broker-dealers and corporate currency managers.
FXPrime will provide clients with a single, operational, legal and credit relationship accessible via JPMorgan's MorganMarkets Web site. Designed as a fully automated straight-through process, FXPrime also features real-time FX positions and credit utilisation reporting.
The service is supported by a client team of eight professionals headed by Victoria Kuhn Whalen, formerly manager of customer support at AIG International Inc.