JP Morgan launches FX algo execution service on Bloomberg App portal

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  • 14.02.2019
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JP Morgan has made its execution services application for foreign exchange (FX) algos, Algo Central, available to users of the Bloomberg App Portal.

Users of Bloomberg Terminal will have access to the JP Morgan algo execution suite, which provides analytics and execution controls for real-time execution strategies, through the Bloomberg {APPS } portal.

Algo Central is the first institutional FX algo execution services application offered by a global bank on the Bloomberg App Portal.

“While Algo Central is available through our trading platform Execute, in order to enhance choice for our clients, the tool is also accessible on the Bloomberg App Portal. Integration with Bloomberg Terminal user authentication services and FX execution capabilities enables us to deliver a value-added service to the global financial community as a feature of the Terminal,” commented Richard James, co-head of macro markets execution at JP Morgan.

A recent survey from consultancy Greenwich Associates found that FX algos have “materially reduced” the overall cost of trading FX for many investors and, as the buy-side becomes increasingly open to using algos, dealers are also investing in the necessary technology.

“Client usage of FX algo strategies has grown at an unrivalled pace over the last 18 months, driven by increased awareness of the benefits of algo execution, a more analytical approach to evidencing best execution and advances in pre-trade TCA tools,” said JP Morgan’s James.

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