Lates News

J.P. Morgan has formed a new quantitative trading and research group aimed at accelerating its development in electronic trading and defending against non-bank competitors. According to an internal memo on Thursday, Chi Nzelu, formerly the global head of fixed income, foreign exchange, and commodities electronic trading, will be in charge of this work. The former head of quantitative research, Olivier Robert, will assist in the transition before "seeking other opportunities." J.P. Morgan's Global Markets head, Pranav Thakur, said, "Our goal is to make J.P. Morgan a leader in the systematic, data-driven trading field." J.P. Morgan has the largest trading business on Wall Street, with revenues in 2025 just hitting a historical high of $35.8 billion. However, in recent years, with the increasing electronification of markets, non-bank market makers such as Citadel Securities and Jane Street have rapidly expanded their operations and profited from it.