Galen Stops digs a little deeper into the results of the recent JP Morgan e-trading survey and finds some surprising statistics.
For those of you who missed it, there were some noteworthy nuggets of data contained within JP Morgan’s recent e-trends survey. But digging a little deeper beyond the headline figures reveals some even more interesting trends emerging in the FX market.
The first thing to point out is that the survey raises some curious questions about algo usage amongst clients. On the surface, it presents good news for algo providers – although only 8% of respondents said that they currently use algos for execution, 24% said that they plan to increase their usage of them in 2018.
As mobile trading continues to grow in popularity, Scott Wacker, global head of e-commerce sales and marketing at JP Morgan, talks about how client demands for this product have changed.
Profit & Loss: How have you seen client demands regarding mobile trading evolve in recent years?
Scott Wacker: Initially, it was about showing clients what was going on in the market. We felt that there were a lot of traders who might be trading on our platform who would go into meetings and then want to monitor the markets during those meetings. So we looked at mobile as a way of differentiating our platform from competitors by offering them access to this market data.