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JPMorgan Backs Fintech Seeking to Disrupt Trillion-Dollar Market

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One of the world’s biggest banks wants to boost profits by cutting out voice brokers acting as middlemen in the largest derivatives market.

JPMorgan Chase & Co. signed startup Wematch Interest Rates to its in-house fintech program, which helps new firms build products for use across the banking industry. New York-based JPMorgan and other dealers will eventually be able to use Wematch’s platform to negotiate trades in interest-rate markets.