In Brief, May 3, 2010
Currency clearing hits Indonesia
JP Morgan is now offering currency clearing for its Indonesian clients using Hong Kong's cross-border payment versus payment (PvP) settlement system. Established by Bank Indonesia and the Hong Kong Monetary Authority, the PvP system works by linking the gross settlement systems in both economies to deliver rupiahs and US dollars within the Asia business day. Simon Jones, regional treasury services executive for Asia-Pacific at JP Morgan, said the bank is
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