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JPMorgan to launch trading robot in Asia: “significantly better” than humans

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Clients at JPMorgan may soon have some of their trades executed by a “first-of-its-kind” robot. The global investment bank is launching artificial intelligence (AI) programme LOXM across the US and Asia after a successful European trial, the Financial Times reports.

The bank has been using the AI in its European business since the first quarter of this year. Its job is to execute client orders “with maximum speed at the best price, using lessons it has learnt from billions of past trades — both real and simulated.” Thanks to this experience it can reportedly handle issues such as having to offload big equity stakes without moving market prices.

Speaking to the Financial Times (FT), David Fellah, of JPMorgan’s European Equity Quant Research team, provided some insight into the impact of the robots capabilities: “Such customisation was previously implemented by humans, but now the AI machine is able to do it on a much larger and more efficient scale.”

JPMorgan’s head of global equities electronic trading Daniel Ciment added that, so far, the European trials showed that the pricing achieved by LOXM was “significantly better” than its benchmark.

While the AI may be better at deciding how to buy and sell things, it currently cannot decide what is bought and sold, leaving that in the hands of human employees and their clients.

Human Resources magazine has reached out to JPMorgan for comment.

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