J.P. Morgan has launched MorganDirect, a new proprietary foreign exchange trading platform that can be used from a client’s desktop or Blackberry 24 hours a day from any location.
MorganDirect provides access to real-time executable streaming rates for spot, forward and swap transactions for over 300 currency pairs and combines access to liquidity and straight-through processing.
It has a new pricing engine that produces real-time prices based on algorithms and controls. J.P. Morgan said the platform has been designed to be flexible with speed of execution in mind and to ensure stability, security, and low-maintenance upgrades. MorganDirect will be able to accommodate other products and asset classes in the near future.
“MorganDirect responds to our clients’ demand for a flexible, fast and safe FX trading tool that complements the existing J.P. Morgan offering of analytics, risk management and research,” said Eddie Wen, global head of e-commerce, FX and Rates, J.P. Morgan, in a statement.