JPMorgan Electronic Trading Committee

Posted on April 21, 2013 by Paul Blank

JP Morgan has recently established a new cross asset class electronic trading management committee (ETMC).

According to an article in Advanced Trading:

The purpose of the ETMC is to share best practices in electronic and algorithmic trading across asset classes and to serve as a decision-making body for the CIB’s electronic trading investments and resources, according to the bank.

In terms of FX ranking, JP Morgan sits in 6th place according to the EuroMoney FX 2012 polls, and interestingly in January JP Morgan wrote to clients telling them that they no longer intend to lobby clients to vote for them in the 2013 annual EuroMoney FX Polls!

EuroMoney 2012 FX Ranking

The latest JP Morgan Investor Presentation provides great insight (which we already quoted from in discussion on mandatory clearing here) into their Investment Bank strategy, and has some nice screen shots (pg 40-41) of the new cross asset platform JP Morgan Markets. We covered the new platform in an earlier post here

JP Morgan estimated that it could add $300-to-$400 million in revenue as it gained a leadership position in electronic trading.

New JP Morgan Markets platform

FX Trade Tile
(interesting central dial, perhaps momentum or trend indicator?)

Athena: A next generation pricing, risk management, analysis and trade management platform that spans many asset classes. It is currently used in foreign exchange and commodities businesses, and is being rolled out more broadly across the fixed income businesses. Athena includes a globally replicated object-oriented database, a powerful dependency graph, and a fully integrated stack across pricing, risk and trading tools.

The code is a combination of Python, C++, and Java: C++ and Java for speed, and Python for flexibility and rapid but controlled releases. Athena is designed to pull developers close to the business to help increase revenues, whilst improving operational processes and controls to reduce costs. (from JP careers website here), see page 41 of the investor presentations.