JPMorgan Seeks to Become Among Top Three in Cash Equities
This article is for subscribers only.
JPMorgan Chase & Co. is seeking to become one of the world’s three biggest stock brokers, lifting a division that has fallen behind its capital markets, equity derivatives and investment banking units.
The largest U.S. bank is trying to boost electronic trading and increase commission pools to climb from sixth place in cash-equities trading, said Tim Throsby, global head of equities in London. JPMorgan is ranked first in investment banking, equities origination, fixed income, commodities and currencies, while it comes second for derivatives products, according to research firm Coalition Ltd.