$100 million trade with JPMorgan done on cell phone!


JPMorgan is investing in technology in a big way — and it’s paying off.

The CEO of the firm’s corporate investment bank, Daniel Pinto, stressed the importance of technology in an annual letter to shareholders Tuesday.

Specifically, he noted, one client leveraged the firm’s technological capabilities to make a $100 million trade — from a mobile phone.

“Our profitable Markets business, which generated an overall ROE of 17% last year, enables us to invest in innovation and the client experience,” Pinto wrote.

“Eighty three percent of notional FX trading is now done electronically. We have seen a $100 million trade done on a mobile phone, and on peak days in 2016, $200 billion in FX was traded through our electronic channels, including our own J.P. Morgan Markets platform, which provides a range of services from research to pre- and post-trade reporting.”

Pinto said the firm fundamentally believes clients should be able to choose how to trade with JPMorgan. He emphasized that it’s the firm’s strong technical capabilities that allow clients trade through turbulent times like Brexit and the US presidential election last year.

“The electronic evolution is advancing, and the investments we’ve made, and will continue to make, already are proving their merit to our clients,” Pinto wrote.


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