JPMorgan has signed a multi-year contract with UK-based Mosaic Smart Data - the first graduate of the Wall Street bank's 'In-Residence' technology startup programme - spanning its global fixed income trading business.
Mosaic's MSX platform unlocks insights in bank transaction and market data, drawing out inferences and correlations from aggregated client account activity. The product is being rolled out to JPMorgan's rates, sales and trading business desks to help teams to better understand, monitor and anticipate their clients’ needs.
Troy Rohrbaugh, global head of macro at JPMorgan, comments: “Having a more holistic view of trading data will improve our service delivery for clients. The Mosaic platform integrates securely with our existing technology infrastructure, and enables our teams to quickly make better informed decisions.”
The data and analytics industry is booming. In 2016, global spending on financial market information and analysis topped $27 billion for the first time in history. As the volume of data linked to trading activity and interactions with clients increases, the challenge to harness and analyse that data in real time becomes ever more critical, no more so than in the increasingly fragmented fixed income markets.
Sanoke Viswanathan, chief administrative officer of the Corporate & Investment Bank at JPMorgan, comments: “We review hundreds of fintech companies for our In-Residence programme but ultimately only partner with a handful. Mosaic has been successful because they demonstrated the ability to partner closely with us and co-develop the product.”