At the world’s biggest debt dealer, traders can have trouble making sense of all the action as it happens. So JPMorgan Chase is bringing in artificial intelligence to give them a picture of the whole trading floor - and even predict where markets are going.
Bloomberg News reports that MSX, a data analytics and machine-learning program, is being deployed in the bank’s fixed-income sales and trading operations, New York-based JPMorgan said Monday in a statement.
It will compile data from all desks and orders to give salespeople and traders a clearer picture in real time and help them anticipate market moves. Developed by London-based startup Mosaic Smart Data, the program is already used in JPMorgan’s rates trading.
JPMorgan, which generated $15 billion in revenue from its fixed-income business last year, is among banks introducing machine learning and artificial intelligence in capital-markets units. The latest move is about improving the performance of salespeople, not replacing them, said Mosaic Chief Executive Officer Matthew Hodgson.
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