JP Morgan form new Electronic Trading Team of 150 People!
(WSJ) JP Morgan Chase is learnt to be forming a team of about 150 employees that will monitor trades across asset classes and electronic platforms, look for opportunities and identify threats to the bank’s market share.
The new group, to be called JP Morgan Execution Services, will be led by trading veteran Frank Troise, and will work with clients who trade equities, fixed income, currencies, commodities and other asset classes, sources told The Wall Street Journal.
Troise said that his team will work to help clients determine how and where they will put their trades. For instance, the desk will work with customers to advise whether to send a trade to an electronic platform that would use an algorithm to execute the trade or to a human trader. The group will include traders, but they will not manage books or determine prices.