BNP Paribas and J.P. Morgan onboard with CTM triparty workflow
10 September 2025 US
Image: Tanvir/stock.adobe.com
BNP Paribas and J.P. Morgan have joined CTM鈥檚 automated triparty matching workflow for prime brokers, says the Depository Trust & Clearing Corporation (DTCC).
The CTM is DTCC Institutional Trade Processing鈥檚 central matching service for cross-border and domestic transactions across multiple asset classes, and is designed to streamline trade communications between hedge funds, prime brokers, and executing brokers.
According to the firm, it provides greater levels of efficiency to the global markets as the UK, EU, Switzerland, and Liechtenstein prepare for the move to T+1 by October 2027.
Val Wotton, DTCC managing director and global head of equities solutions, says: 鈥淭his is a pivotal step in further automating and accelerating settlement processes, and we anticipate it will greatly enhance automation for prime brokers in EMEA and globally as additional financial markets transition to a T+1 settlement cycle.鈥�
Prime brokers often receive trade details from hedge funds in various formats and at different times which can extend to T+1, says DTCC, causing delays in post-trade processing.
CTM鈥檚 triparty matching capabilities standardise and automate the delivery of hedge fund trade files to prime brokers, this aims to ensure timely communication of trade details and an efficient trade processing flow.
The workflow uses CTM鈥檚 automated central matching functionality, supplying prime brokers with a golden copy of transaction details when a trade match occurs between a hedge fund and an executing broker.
Both BNP Paribas and J.P. Morgan will go live on the workflow by the end of 2025.
Wayne Howard, global head of prime brokerage operations client services at BNP Paribas, comments: 鈥淛oining DTCC鈥檚 CTM triparty matching workflow as a prime broker aligns with BNP Paribas continuing commitment to deliver the best in class experience for our clients.
鈥淭his solution will enable us to further enhance post-trade processing as we work towards ensuring support for T+1 settlement across markets.鈥�
Anthony Fraser, global head of prime financial services operations at J.P. Morgan, adds: 鈥淒TCC's initiative to incorporate CTM into the prime broker environment will enable our teams to optimise post-trade processes, emphasising accuracy and speed, which will drive efficiencies for our clients.
鈥淎s a client-centric business, we are dedicated to supporting innovative solutions that enhance the client experience and maintain our service quality, at scale.鈥�
The CTM is DTCC Institutional Trade Processing鈥檚 central matching service for cross-border and domestic transactions across multiple asset classes, and is designed to streamline trade communications between hedge funds, prime brokers, and executing brokers.
According to the firm, it provides greater levels of efficiency to the global markets as the UK, EU, Switzerland, and Liechtenstein prepare for the move to T+1 by October 2027.
Val Wotton, DTCC managing director and global head of equities solutions, says: 鈥淭his is a pivotal step in further automating and accelerating settlement processes, and we anticipate it will greatly enhance automation for prime brokers in EMEA and globally as additional financial markets transition to a T+1 settlement cycle.鈥�
Prime brokers often receive trade details from hedge funds in various formats and at different times which can extend to T+1, says DTCC, causing delays in post-trade processing.
CTM鈥檚 triparty matching capabilities standardise and automate the delivery of hedge fund trade files to prime brokers, this aims to ensure timely communication of trade details and an efficient trade processing flow.
The workflow uses CTM鈥檚 automated central matching functionality, supplying prime brokers with a golden copy of transaction details when a trade match occurs between a hedge fund and an executing broker.
Both BNP Paribas and J.P. Morgan will go live on the workflow by the end of 2025.
Wayne Howard, global head of prime brokerage operations client services at BNP Paribas, comments: 鈥淛oining DTCC鈥檚 CTM triparty matching workflow as a prime broker aligns with BNP Paribas continuing commitment to deliver the best in class experience for our clients.
鈥淭his solution will enable us to further enhance post-trade processing as we work towards ensuring support for T+1 settlement across markets.鈥�
Anthony Fraser, global head of prime financial services operations at J.P. Morgan, adds: 鈥淒TCC's initiative to incorporate CTM into the prime broker environment will enable our teams to optimise post-trade processes, emphasising accuracy and speed, which will drive efficiencies for our clients.
鈥淎s a client-centric business, we are dedicated to supporting innovative solutions that enhance the client experience and maintain our service quality, at scale.鈥�
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