JP Morgan wins Taiwan clearing mandate

JP Morgan will provide Taiwan's over-the-counter trading system -- the GreTai Securities Market (GTSM) -- with clearing, settlement and custody services for foreign government bonds. Banks, broker-dealers and bills companies will initially be able to trade US Treasuries through GTSM, with JP Morgan clearing and settling those trades at the US Federal Reserve and holding the assets under custody. The solution uses UK broker Icap's electronic fixed-income trading platform BrokerTec and…