JP Morgan creates failed trade analysis platform
US – JPMorgan Investor Services has launched the JPMorgan Trade Settlement and Relative Ranking System (JPMorgan TradeSTARR), a web based analytical platform designed to alleviate the problem of failed trades, which cost the investment industry an estimated US$1bn (€1.1bn) each year, according to JPMorgan.
Using a series of ten metrics based on JPMorgan’s global trade settlement database to measure, analyse and statistically rank settlement efficiency among brokers across markets, the JPMorgan TradeSTARR is an internet application designed to assist asset management and brokerage firms reduce their operational risk and the cost of failed trades.
Says Mary Beth Campau, global information products manager: “With the rising volume and complexity of global trading, the cost of failed trades will continue to increase.”
Other features of the new application include benchmarking and viewing broker settlement performance and counter-party risk management.