Best Execution Award – JP Morgan

Many of the reasons for this award has been covered in our write up for Best FX Platform, but it needs to be reiterated just how good the trading experience is on Execute.

While basket creation is probably the stand out feature, mainly because it speaks to how customers want to execute certain of their trades in certain conditions – systematic accounts especially – the quality of more prosaic features should not be forgotten.

Pricing tablets are sharp and easy on the eye with good information held within, there is also the Activity Feed, which offers targeted content for users thinking about trading (especially in size or at tricky times). Away from the client experience (visually), users also tell us that pricing in general from JP Morgan remains tight and backed by good depth of liquidity – something that is very important as it represents a significant advantage over many ECNs and even some multi-dealer venues.

The algos remain excellent, with in-flight analysis available as well as pre- and post-trade analytics – and the decision to fold this back into Execute some five years ago has paid off, providing a much more seamless experience. The bank is also reaping the benefits of its position in the FX markets, especially in e-FX, with increasing use of is adaptive algo strategy.

Ultimately, JP Morgan’s sheer presence in the FX market helps it win this award, because not only does it offer deep liquidity and an in-depth look at the market, it has overlaid this with state-of-the-art tools to help clients with both their analysis and, importantly, execution.