Volatile markets are driving buy-side firms to adopt faster, more integrated fixed income trading tools says JP Morgan’s Marie Linehan and Francesco Lucherelli. Speaking at this year’s Fixed Income Leaders’ Summit in Amsterdam the executives highlighted growing demand for platforms that combine data, analytics, execution and post-trade functions in a single workflow.
During periods of market stress year, they have seen a uptick in demand from buy-sides seeking reliable liquidity, automation and personalized dashboards. Looking to 2026, the bank has plans to expand its multi-asset capabilities, including fixed income and credit, while exploring future applications of advanced analytics and artificial intelligence.
Interview
Jo Gallagher – Welcome to Trader TV. We’re here at the Fixed Income Leaders’ Summit in Amsterdam, and I’m joined by Marie Linehan and Francesco Lucherelli at J.P. Morgan. Marie, Francesco, welcome to the show.
Marie Linehan – Thanks for having us.
Francesco Lucherelli – Thank you very much.
Jo Gallagher – So we’ve had, you know, a really busy year for fixed income to say the least. How have you seen tech and data needs evolve?
Marie Linehan – So as market volatility increases, buy-side firms are under increasing pressure to act faster and with greater precision. In response to this, we’ve seen a strong shift towards more integrated workflows that combine proprietary data, real-time markets insights, execution tools and post-trade capabilities together in a single platform. With J.P. Morgan Markets, we’ve delivered a holistic front-to-back bank platform that empowers traders to move seamlessly from insights to execution. So instead of having to move between different systems, they can now benefit from proprietary data, real-time analytics, and execution tools such as Execute together in one integrated platform, combining the entire trade life cycle. And we’ve really seen the usage of the platform grow this year, during these heightened periods of market volatility. And I know, Fra, that’s something that you’ve also seen on the execution side, as clients move continuously towards electronic channels during market stress.
Francesco Lucherelli – Absolutely. In Execute this year, across asset classes, including fixed income, there has been more and more demand of stable and reliable liquidity during high and low volatile markets, as well as data and content the client can use to make their trading decision. I believe that there are three main reasons for clients relying on our solutions. First one is the access to reliable and streaming liquidity through high and low volatile times. The second one is the ability to utilize data and analytics from a pre- to post-trade scenario, which help them with their decision when executing. And then the last one is the automation of the workflow. With a few clicks, you can look at the commentary and the information that you need, get a price, and then execute and access your post-trade capabilities. So, all in all, it helps you with a few clicks to get the whole process done. So definitely a growth on that side.
Jo Gallagher – Okay. I understand personalization and customizable tools are also a big theme as well. So how have you seen those types of tools actually make a big impact to trader’s performance?
Marie Linehan – Traders no longer rely on a one-size-fit-all tool. They expect tailored dashboards, relevant insights, automated workflows, and analytics that are dynamic to their trading strategies. So with J.P. Morgan Markets, we’ve enabled personalization at the platform level, which enables us to provide a holistic client experience across all of our products. The other key advancement is the integration and automation of content across our research sales and trading desks. So by the intelligent tagging of this content and then contextually mapping that content to the trader’s interest, we can deliver relevant, actionable insights at the right time in the right way. We deliver this across the products in the platform and also down into Execute alongside our trading tools as well.
Francesco Lucherelli – Clients will find the space that they log into is a lot more customized and tailored to what they need on their trading day. And we help clients to basically create their view the way that they need it, access the content that they find most relevant, and decide what they want to trade[PE(S1] , or at least monitor the markets.
Jo Gallagher – There’s this big push to multi-asset desks, as we’ve seen over the last few years. How do you see technology solutions and tech generally evolving as a result of that?
Francesco Lucherelli – Multi-asset is definitely at the core of our agenda, and what we would like to explore, and are exploring. Execute was born as a purely FX platform, and then we have slowly moved into other asset classes by listening to client demand and market trends. We’ve seen in the Fixed Income space a growth and a potential to grow. We have developed the ability to transact in government bonds, repo, and are exploring more and more into the credit space. We took the solution that our sales people would use internally at J.P. Morgan and exported to them, and that worked. I think the secret sauce is the combination of electronic pricing made in partnership and by our algorithmic trading strategies team, as well as the ease of use of the platform, where a client can load up a long list of hundreds of transactions and get a price back and trade them – and all in all, that has helped them improve their workflow. Looking forward, we continue expanding. We have an interest in derivatives, we think there is potential for growth. And as many others are doing, we started exploring using large language model. But this is something I hope we will get to talk about it next time.
Jo Gallagher – I’d like to thank Francesco and Marie for their insight and, of course, you for watching. To catch our other shows, including Trader TV This Week, every Monday at 6:45am UK time go to tradertv.net.
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