J.P. Morgan announced today the extension of MorganDirect AlgoX, its advanced algorithmic order execution tool, to the Bloomberg platform.

Eddie Wen, global head of e-commerce for foreign exchange and rates at J.P. Morgan said: “With AlgoX now available via both Bloomberg and MorganDirect, J.P. Morgan’s institutional FX and rates trading platform, traders have a choice of venues through which to access our algorithms. Algorithmic execution provides a way for clients to efficiently access liquidity and achieve optimal execution within the FX market and we believe it is the next big wave in e-commerce innovation.”

Two new algorithmic strategies have been added to the AlgoX suite: TWAP+, Time Weighted Average Price with optimized execution, and TimeSlicer, an aggressive time weighted average strategy. TWAP+ has an innovative execution style that can be specified by users, such as passive, balanced or aggressive. The TimeSlicer strategy routes orders to the liquidity sources offering the best price and prioritises J.P. Morgan’s liquidity pool in order to minimize market impact.