In February, J.P. Morgan said 99 percent of equities orders were now electronic, which typically are a fraction of the cost of voice orders to execute.
Helped by investments in electronic trading, prime brokerage and quantitative services, J.P. Morgan has climbed the global rankings. It had 10.3 percent of the market for equities and prime brokerage last year, compared with 7.7 percent in 2012.
Berthe and Fitzgerald will rely on the company’s investments in big data, quantitative research and other technologies, the memo said. The company has a $10.8 billion budget for technology spending across its businesses this year.
The bank also created a new group, Americas execution services, led by Adam Englander and Matthew Mallgrave, to make sure that clients can easily transact in any way, whether it’s with humans or by electronic means.
“We believe that the new organizational structure and the people in it are perfectly suited to gain competitive share from the rapid evolution that is occurring all around us,’” Sippel and Leung said in the memo.