The Depository Trust & Clearing Corporation (DTCC), announced that J.P. Morgan is leveraging CTM’s automated trade matching workflow for U.S. Listed Options and realizing efficiencies in commissions reconciliation through greater automation and standardization of post-trade processing.

As volumes in U.S. Listed Options continue to grow, firms across the industry are seeking ways to reduce manual intervention, streamline reconciliations and accelerate post-trade processing. By leveraging CTM’s automated matching capabilities, J.P. Morgan is helping advance straight-through processing (STP) while improving operational efficiency and mitigating risk.

“We’re pleased to see J.P. Morgan leveraging CTM to drive greater efficiency in commissions reconciliation for U.S. Listed Options,” said Val Wotton, DTCC Managing Director and Global Head of Equities Solutions. “As firms face increasing trading volumes and continued pressure to improve operating efficiency, automation of post-trade processes is becoming increasingly important. J.P. Morgan’s use of CTM demonstrates how standardization and automated matching can help reduce operational friction while enabling more scalable processing.”

Adoption of CTM’s automated workflow to support the submission and matching of U.S. Listed Options has continued to accelerate since DTCC introduced the capability in 2023. Today, 32 buy-side clients are live in production on the workflow, and monthly matched volume for U.S. Listed Options through CTM has increased by 525% since July 2024. The growth reflects increasing industry demand for automated solutions that can help firms standardize commissions reconciliation processes, reduce manual effort and improve downstream operational efficiency.

“At J.P. Morgan, we continually evaluate opportunities to enhance operational efficiency and deliver a better client experience,” said Vincenzina Megna, Head of Equity Operations at J.P. Morgan. “By leveraging CTM’s automated matching capabilities for U.S. Listed Options, we have been able to streamline commissions reconciliation processes, reduce manual touchpoints and improve overall workflow efficiency. As market volumes continue to grow, automation will remain a key component of supporting scalable and resilient post-trade operations.”

CTM’s automated U.S. Listed Options trade matching workflow enables STP, enhancing operational efficiency and reducing risk through standardization and automation. By leveraging CTM, existing and new clients can standardize reconciliation processes, especially commission breaks, eliminating the need for custom reports and file reconciliations for each trading partner. The accelerated matching process can lead to faster submission times to clearing.

Further, CTM enriches the Clearing Member Trade Assignment  (CMTA) process, which facilitates the transfer of options trades / positions between Clearing Members,  with an Options Clearing Corporation (OCC) Actionable ID (identifies account at the Clearing Member that originated an options transaction) and the contraparty clearing member firm number of the Clearing Broker (for clients that use ALERT), facilitating automated communication of allocation details to executing brokers, and reducing clearing delays and mismatches.

CTM is DTCC Institutional Trade Processing’s central matching service for cross-border and domestic transactions across multiple asset classes. Today, there are 6,000+ clients in more than 85 countries using CTM to streamline workflows.

Source: DTCC