JP Morgan and BlackRock have rolled out a same day settlement platform in Asia Pacific, Mondovisione reports. The Asian Same Day Settlement service, provided by JP Morgan’s transfer agency business, will allow BlackRock’s institutional clients based in Asia to process trades during Asian business hours and to receive the same day use of the funds.

The service will be initially available for BlackRock’s two USD cash funds, the ICS Institutional U.S. Dollar Liquidity Fund and the ICS Institutional U.S. Treasury Fund. Through the service, JP Morgan Hong Kong will be able to notify investors about the incoming payment and will release payments to the bank of the underlying investor on a best effort basis to ensure receipt of funds on the same day.

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