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JPM is deploying AI software developed by London-based startup Mosaic to help its fixed income traders anticipate market moves. Fixed income trading, a $15b revenue business for JPM in 2016, has lagged behind areas such as equity trading in terms of AI adoption.
Mosaic previously partnered with JPMorgan through the bank’s “In-Residence” fintech startup development program created in 2016. Mosaic is the first company to complete the program, which gives startups six months of access to JPMorgan’s people, facilities and systems. “The Mosaic platform integrates securely with our existing technology infrastructure, and enables our teams to quickly make better informed decisions,” JPMorgan’s head of global macro trading, Troy Rohrbaugh, said in a statement.
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