JPMorgan has made major investments in innovative technologies in order to give clients the broadest possible choices and their gamble certainly seems to be paying off big in a big way.
Daniel Pinto, CEO of JPMorgan Corporate Investment Bank, emphasized in an annual shareholders’ letter last Tuesday that investing in technology continues to be a top priority for the company.
He made specific mention of one client having taken advantage of the company’s technological advances when they used their cell phone to make a $100 million Forex trade.
Pinto wrote, “Our Markets business is definitely generating profits for us, having made an ROE of 17% in 2016. This allows the company to keep investing in innovative technologies in an effort to continually improve the clients’ options and experience.”
“In the digital world of today, 83% of notional Forex trading is being done electronically. Last year on a busy day $200 billion in FX trades were easily being done through our various electronic channels. We even saw a $100 million FX trade completed with just the use of a cell phone.”
The Bullboard platform offers a wide range of services for users. Clients can even conduct research and receive comprehensive trade reports using our platform.
In a letter Tuesday from Matt Zames COO, he reported that the firm is currently budgeting $9.5 billion for technology, with a large percentage of that earmarked for investments in exciting new innovations.
According to Pinto, the company firmly believes that clients should be allowed to choose the manner in which they trade with JPMorgan. He stressed that it is the company’s advanced technical capabilities that enable clients to confidently trade through the company, even through unpredictable times like last year’s presidential election in the US and Britain’s vote to exit the EU.
Pinto wrote, “The electronic revolution continues to advance, and so far the investments we’ve made in technology are already proving to be worthwhile for our clients, which bodes well for our future in this highly competitive industry.”