How the financial sector sees technology as its saviour

Here’s a snippet from a really thought provoking article by Francesco Guerra (click here for the full article from yesterday’s FT – requires subscription or free registration) .

When, a few months ago, I asked Jes Staley, head of JPMorgan Chase’s investment bank, how his industry would survive in an era of lower returns, he answered with two words: “technology” and “revolution”.

Last week, Mr Staley put his servers where his mouth was.  Speaking to a roomful of investors, he revealed that JPMorgan was midway through a five-year plan to reduce its foreign exchange trading platforms from 10 to 2 by using more efficient IT systems.

It raises a lot of questions…..firstly – is a move like this indicative of the growing trend towards single-dealer platforms, or does it represent an opportunity for SDPs?

One Response

  1. Good day! I could have sworn I’ve been to this blog before but after going through a few of the posts I realized it’s new to me.

    Regardless, I’m certainly happy I came across it and I’ll be book-marking it and checking back frequently!

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