A new proprietary e-trading platform that allows clients to access real-time executable streaming foreign exchange rates (forex) from their desktops and Blackberry devices was launched on Wednesday by JP Morgan.The platform, called MorganDirect, supports FX spot, forward, and swaps trading, providing real-time rates for over 300 currency pairs. The bank intends to expand the service to other products and asset classes, including vanilla options, interest rates, and fixed income.
JP Morgan said the new platform will replace its previous FX trading service, JPEX. The principle change between MorganDirect and the old platform is a new pricing engine that produces real-time prices based on algorithms and controls.
Topics: JP Morgan Chase
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