FX market round-up: JPM launches new platform, becomes CCP to Currenex
JPMorgan has unveiled a new e-commerce offering. Developed internally, the platform, MorganDirect, can be used to trade spot, forwards and outrights from either desktops or BlackBerries, 24 hours a day. MorganDirect will provide streaming rates for more than 300 currency pairs and the bank says that other products and assets will be added in due course. Elsewhere, JPMorgan has replaced AIG as the central counterparty on Currenex’s FXTrades platform.