JP Morgan Treasury Services, a unit of JP Morgan Chase Bank, has been selected by CLS shareholder Banco Popular Español to provide CLS third party services. Banco Popular Español, the third largest banking group in Spain, claims it selected JP Morgan after an extensive review of third party services providers because of its reputation within the market and competitive pricing, as well as its liquidity and credit offering.

Brian Wedge, CLS product manager at JP Morgan, comments, “This is a significant win for us, particularly because Banco Popular Español is a CLS shareholder and has been highly involved with CLS since inception. The fact that JP Morgan was selected is testimony to the strength of our offering and our commitment to CLS and the third party services market.”