JP Morgan Adds TT Order Entry

By Karla L. Yeh, Reporter

By Karla L. Yeh, Reporter

JP Morgan, the investment banking unit of JP Morgan Chase & Co., has agreed to offer order entry software from Trading Technologies International Inc. on its internal trading desks and to global futures and options clients.

JP Morgan said on Tuesday it will integrate Trading Technologies' FIX connectivity and high-speed exchange access through its X_TRADER platform into its MORCOM eXtraTrade offering, which provides derivatives trading.

Peter Johnson, JP Morgan's co-head of Global Futures and Options, said its distribution partnership with Trading Technologies “enhances our world-class platform with tools and solutions that our clients have come to expect.”

"We look forward to expanding our relationship with JP Morgan and working closely to distribute X_TRADER to their growing customer base via TTNET. JP Morgan's global presence, established relationships within the hedge fund community and dedication to offering best-of-breed technology solutions make them an ideal partner,” said Harris Brumfield, chief executive officer of Trading Technologies.

Chicago-based Trading Technologies develops trading software for banks, proprietary traders, brokers, Futures Commissions merchants and hedge funds focused on derivatives. The company also operates in New York, Stamford, Houston, London, Geneva, Frankfurt, Singapore and Tokyo.

JP Morgan operates under JP Morgan Chase & Co., which manages more than $2.3 trillion in assets. On Sept. 25, JP Morgan acquired struggling bank Washington Mutual for $1.9 billion.

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Posted on Oct. 22, 2008