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JP MORGAN CHASE & COMPANY (JPM)
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JP Morgan Chase mpany : JPMorgan invests in fixed-income data startup

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03/14/2018 | 01:06am CEST

(Reuters) - JPMorgan Chase & Co has made a strategic investment in Mosaic Smart Data, a company that has developed technology to help banks make their fixed-income sales and trading businesses more profitable.

The bank, whose fixed-income revenue slumped last year, has taken a minority stake in the London-based startup, the companies said in London on Wednesday.

The financial terms of the deal were not disclosed.

Mosaic will use the funding to double its headcount and expand its platform to cover additional asset classes for new and existing clients, according to a person familiar with the deal.

The investment comes after JPMorgan revealed in October that it had signed a multiyear deal to use Mosaic's technology globally.

Mosaic sells technology that collects and analyses data from the fixed-income trading divisions of banks to help them make more informed decisions and secure more deals.

The platform helps visualise data and can be used traders to figure out which clients are more likely to be interested in a given deal. It can also be used by bank bosses to determine which trading desk or trader has been performing better.

The investment comes as financial institutions look to adopt more technology that can help them take advantage of the vast amounts of data they store.

Banks have also been looking for ways to deal with a liquidity crunch in fixed-income markets. Tougher post-financial crisis capital requirements have made it more expensive for them to act as market makers in some fixed-income assets, leading their fixed-income divisions to slump.

(Reporting by Anna Irrera; Editing by Jonathan Oatis)

By Anna Irrera

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Financials ($)
Sales 2018 112 B
EBIT 2018 45 927 M
Net income 2018 31 347 M
Debt 2018 -
Yield 2018 2,34%
P/E ratio 2018 12,41
P/E ratio 2019 11,56
Capi. / Sales 2018 3,46x
Capi. / Sales 2019 3,33x
Capitalization 385 B
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 120 $
Spread / Average Target 5,6%
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Managers
NameTitle
James Dimon Chairman & Chief Executive Officer
Gordon A. Smith Co-President & Co-Chief Operating Officer
Daniel E. Pinto Co-President & Co-Chief Operating Officer
Marianne Lake Chief Financial Officer & Executive Vice President
Lori A. Beer Chief Information Officer
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