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JP Morgan automates to get real-time trade data

Nick Huber
Investment bank JP Morgan Chase has deployed new trading technology to automate transactions to allow straight-through processing and speed up its software development.

The investment technology, supplied by Apama, will be used by hundreds of the bank's traders to generate and manage orders in real time. The desktop software lets users deal with more complex orders that are traditionally serviced by brokerage trading desks.

Financial firms worldwide are investing heavily to automate the different transactions involved in the trade cycle - known as straight-through processing.

Alison Pothier, global head of electronic trading for futures and options at JP Morgan, said the Apama software would help reduce the bank's software development costs because it can be updated quickly and link more easily with other systems, compared to customised software.

"Tools built before the Apama installation were often made to meet a specific need or reach a specific target audience," she said. "This meant we had to invest in a number of small solutions, which required a lot of maintenance and investment. Making changes to these solutions became increasingly difficult and limiting.

"The cost associated with building these individual solutions and subsequently amending them grew expensive. With the Apama software, changes can be made in real-time and code can be redeployed within a day.

"Both of these factors decrease the cost of building, maintaining and deploying trading solutions," said Pothier.

The dashboard-style Apama software allows traders to analyse data in real time and helps them develop their own trading strategies.

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