A pair of JPMorgan Chase coders have been given the green light to bring their data skills to the trading floor.
The coders - one in London and one in New York - have received regulatory approval to to trade cash equities, according to Bloomberg.
Both come from the bank's Analytics, Automation and Optimization team, which is tasked with using data to help in areas such as derivatives and cash trading in the equities unit.
Jason Sippel, head, global equities, JPMorgan, tells Bloomberg: "This is about convergence of the trader and quant. It’s moving at warp speed and re-inventing what the trading floor looks like."
JPMorgan is looking to get trading licenses for another eight coders by the end of the year, as the bank looks to "tap into the reams of data we have to provide ideas," says Sippel.
The rise of the coders within JPMorgan was seen last year when the bank introduced mandatory coding courses for all employees in its asset management division.