JPMorgan debuts new electronic client platform
07 January 2013 | 9033 views | 2
JPMorgan has begun the roll-out of a new electronic multi-asset client trading system, consolidating more than 30 individual platforms into a single user interface.
JPMorgan Markets brings pre-trade, trade and post-trade functionality onto a single platform for the first time, representing a complete redesign and consolidation of the firm's existing e-trading offerings from front to back.
Troy Rohrbaugh, global head of FX & rates trading at the bank says: "By having a high degree of automation at every stage of a trade, clients will be able to focus on trading ideas rather than the increasing complexity of a post-regulatory world in trade execution, post-trade clearing, settlement and reporting."
The huge undertaking underlines JPMorgan's continual investment in electronic trading, and also in technology more generally, which typically has a budget of several billion US dollars each year. The bank believes that the high tech spend will be a competitive differentiator in an increasingly complex, highly regulated market, as sell-side institutions look for streamlined, efficient, and lower cost routes to trading venues.
Functionality available in the first phase roll-out includes pre-trade research and analytics, FX, rates, commodities trade execution and a number of post-trade services.
Other pre- to post-trade functionality will be added throughout the rest of the year, says the bank, with most existing clients and products fully on-board by the end of 2013.