Press Room

About » Press Room » Press Release

« Back to current press releases

Patricia Campbell
Peregrine Financial Group, Inc. (PFGBEST)
(312) 775-3411

FOR IMMEDIATE RELEASE Wins FX Operational Efficiency Award from JPMorgan

Chicago, July 24, 2008 — JPMorgan has awarded its "2007 Elite Quality Recognition Award." effected greater than 20 percent efficiency improvements in multi–currency clearing in 2007 and continues to increase its volumes of multi–currency wire and payment transactions requiring the use of the Bank's system. This award is given annually to a JPMorgan client which has a volume greater than 10,000 payments and improvement greater than 20 percent, meaning a larger number of wires had accurate payment instructions and were successfully transmitted with no human intervention.

Handling customer wiring instructions electronically through the JPMorgan web–based system has streamlined the process and speeds the effort to convert from one currency to another and have the wire sent the same day to the customer — an important benefit for futures clients, forex clients, and currency delivery customers. "It makes us more competitive, and improves our customer retention," said President Russ Wasendorf, Jr. is one of the largest non–clearing U.S. futures commission merchants, with customers, affiliates and brokerage offices in more than 80 countries. It offers a range of trading and investor products and services for retail investors as well as for commercial and institutional clients. The company is a leader in sustainable investing through diversified products including managed funds and forex, full–service brokerage, trader education, research, and direct online futures trading through its BESTDirect platform, now celebrating its 10th anniversary.  Please visit

The Treasury Services business of JPMorgan is a top–ranked, full–service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide.