(Reuters) – JPMorgan Chase & Co has made a strategic funding in Mosaic Sensible Information, an organization that has developed know-how to assist banks make their fixed-income gross sales and buying and selling companies extra worthwhile.
The financial institution, whose fixed-income income slumped final yr, has taken a minority stake within the London-based startup, the businesses mentioned in London on Wednesday.
The monetary phrases of the deal weren’t disclosed.
Mosaic will use the funding to double its headcount and increase its platform to cowl extra asset courses for brand spanking new and current shoppers, in keeping with an individual accustomed to the deal.
The funding comes after JPMorgan revealed in October that it had signed a multiyear deal to make use of Mosaic’s know-how globally.
Mosaic sells know-how that collects and analyzes information from the fixed-income buying and selling divisions of banks to assist them make extra knowledgeable choices and safe extra offers.
The platform helps visualize information and can be utilized merchants to determine which shoppers usually tend to be fascinated by a given deal. It will also be utilized by financial institution bosses to find out which buying and selling desk or dealer has been performing higher.
The funding comes as monetary establishments look to undertake extra know-how that may assist them make the most of the huge quantities of information they retailer.
Banks have additionally been in search of methods to take care of a liquidity crunch in fixed-income markets. More durable post-financial disaster capital necessities have made it dearer for them to behave as market makers in some fixed-income belongings, main their fixed-income divisions to hunch.
Reporting by Anna Irrera; Enhancing by Jonathan Oatis