JPMorgan is partnering with Dublin-based Cognotec to offer white label foreign exchange dealing services to correspondent banking customers.
JPMorgan clients will be able to access prices from an independently-hosted server using Cognotec Liquidity Linq technology, thus preserving client confidentiality. Clients will be able to configure their white label service either to outsource flows automatically, or to maintain positions, based on currency, trade size, time of day, instrument and other factors.
The bank says its entry into the own-brand foreign exchange market is part of a strategy to expand its white label franchise globally.
John Beckert, president of Cognotec International, comments: "As the cost of participation at the wholesale end of the business increases, we expect the number of banks looking to leverage the inherent advantages of white label service to continue growing at an accelerated rate."