JPMorgan Securities has signed a two year contract with Lava Trading's order management system, ColorPalette, which it will use to support its cash equities business in the US.
ColorPalette is a equities trading and order management platform designed as a high throughput, extensively automated system for managing institutional and retail customer orders.
Jeffrey Wallis, VP, North America cash equities business technologist, JPMorgan Securities, says: "ColorPalette will add tremendous value to our domestic equities business, positioning JPMorgan to better respond to the evolving and increasingly competitive equities marketplace."
In addition to deploying ColorPalette internally, JPMorgan will also participate in Lava's Sponsored Broker Programme, which will provide customers with direct market access as well as the ability to use algorithmic trading strategies developed by the bank's Electronic Execution Services (EES).
JPMorgan also uses Lava's core products for routing and execution.