Hey, I think JPMorgan may be getting it

Press release from JPM

JPMorgan Introduces Algorithmic Trading Alert Service
NEW YORK – September 26, 2006 – JPMorgan's Electronic Client Solutions (ECS) announced today the launch of AlgoAlert, an instant messaging service that provides unique charts as well as real-time updates of algorithmic trading performance and trading conditions such as halts and oversized orders. AlgoAlert can be received via a variety of email and instant messaging platforms including, AOL's AIM service, the BLOOMBERG PROFESSIONAL® service's messaging system, and the Google Talk ™ instant messaging service.

"AlgoAlert is a tool that tracks algorithmic trading performance when traders need it the most – while they trade," said Carl Carrie, head of product development in ECS. "It gives traders a competitive edge by ensuring they receive information they need for split-second decision-making. The result is improved awareness, better execution and improved transparency in algorithmic trading."

AlgoAlert requires no software to install and is available for JPMorgan's suite of algorithmic trading products, including Aqua and Arid, the firm's recently announced "dark pool" algorithms. It can also be used with Trading Algorithm Optimizer (TAO), a tool that selects algorithms and executes strategies. AlgoAlert works in conjunction with any execution management or order management platform, including Neovest, JPMorgan's own broker-neutral execution management system.

"Our focus continues to be providing clients with top-notch service, coupled with cutting-edge trading tools," said David Conner, head of electronic sales in ECS. "AlgoAlert is just the latest example of our innovative and expanding platform."

JPMorgan's Electronic Client Solutions provides a comprehensive suite of electronic execution products to institutional clients, including direct market and algorithmic access, pre- and post- trade analytics as well as a variety of algorithmic trading tools and services. For more information, please visit www.jpmorganequities.com.

Slight problem - most traders will tell you them are already overwhelmed with email; that they can't access IM services other than Bloomberg's due to corporate concerns about the lack of automatically arhived chat histories; and if other houses play "me too" they'll be swamped! Still, hats off to JPM for being innovative - wonder if it actually works?

posted by John Wilson @ 11:18 PM Permanent Link newsvine reddit


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