JPMorgan Taps AI Startup to Help Traders Predict Market Moves
- Bank to use data analytics program MSX in debt trading
- Software compiles real-time data from firm’s trading floor
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At the world’s biggest debt dealer, traders can have trouble making sense of all the action as it happens. So JPMorgan Chase & Co. is bringing in artificial intelligence to give them a picture of the whole trading floor -- and even predict where markets are going.
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.