JPMorgan Chase & Co. (JPM), the biggest U.S. bank by assets, plans to consolidate its electronic trading system for corporate bonds with other asset classes in the early part of this year as lenders seek to adapt to regulatory changes and reduce costs.
“We’re trying to figure out how our customers would like to execute,” Scott Wacker, the London-based head of FX Sales EMEA at JPMorgan, said today in a telephone interview. “Our target is the end of the first quarter, maybe into the second quarter that we intend to start to offer the ability to execute online for fixed-income products.” . . .