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Charles Schwab, JPMorgan extend agreement

Charles Schwab (SCHW) has extended its agreement with J.P. Morgan (JPM) to provide Schwab clients with access to a broad range of J.P. Morgan’s fixed income securities. The agreement, originally signed in 2010, gives Schwab’s 9.1 million client brokerage accounts access to J.P. Morgan’s new issue and secondary municipal bonds and corporate debt securities. Schwab clients have had access to more than 800 new corporate issues through J.P. Morgan since 2011. In 2013, total orders for these corporate new issues saw an increase of 70% over 2012, and the total face value of those orders well more than doubled in that time.