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
More on Derivatives
UBS in Australia sold off CDS portfolio in fixed income scale-back
Corporate bond and commodity derivative sectors are the prize
Two-thirds of respondents say clearing will increase the cost of derivatives trades by up to 5%
Banks look for clarity on collateral interest payments
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.