Category Archives: Innovation

Jamie Dimon on JPMorgan’s Big Data Strategy

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Large banks like JPMorgan have always had big data, but in a letter to shareholders released Wednesday, JPMorgan CEO Jamie Dimon likened the difference between yesterday’s and today’s big data to the difference between a rotary phone and a cellphone.

“To best utilize our data assets and spur innovation, we have built our own extraordinary in-house big data capabilities – we think as good as any in Silicon Valley – populated with more than 200 analysts and data scientists, which we call Intelligent Solutions,” Dimon wrote.

Dimon outlined at least five ways the firm has incorporated big data into improving business processes. In the corporate and investment bank, big data is being deployed to improve operational efficiency by analyzing errors. In custody for example, the firm uses big data to identify and find the root cause of breaks in processes or variances in the net asset values of funds. The result has reduced the operational burden and improved client service, Dimon wrote. Continue reading

Crude Oil Continues Falling at 6 year lows in Jan2015

Houston, Texas: US Crude oil prices fell on Thursday after weak US economic data spurred worries over crude oil demand. The US crude declined $2.23, or 4.6 percent, to settle at $46.25 a barrel. Brent crude was last down $1 to trade around $48 a barrel. Early in today’s trading session, US crude moved higher, breaking above $50 a barrel on a fall in the dollar. And very interestingly, the US crude also briefly traded at a premium to Brent, rather than the discount it normally sustains, as the Brent front-month contract traded in its last day before expiry.  Read More >>

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VIX Products in High Demand by Investors

Volatility arbitrage though not new, has taken on a new dimension, as several new hedge funds have begun to deploy strategies involving VIX futures and options. We’ve seen the VIX universe continue to expand in surprising ways. For instance, a major investment group that principally trades energy and interest rate products, recently became a Trading Privileged Holder, or TPH at CFE. Other new users include European investors trading VIX products against fee stocks, a measure of volatility of the Euro Stocks 50. And banks in Brazil, now actively using VIX products for macro hedging. We also see increasing numbers of customers that sell implied volatility short, which has been an active topic in many trading forums. Its important to note we are still in the early stages of developing previously-identified customer segments globally, such as hedge funds, CTAs, proprietary trading firms and institutional investors. Many customers in these categories are early adopters meaning there is considerable room to further expand every category of VIX user. Quite simply, we believe investors of every type can potentially benefit from the added dimension of pure volatility provided by VIX futures and options, and that education is the key to unlocking that potential. – Ed Tilly CEO, CBOE (Q1’2014 Earnings Call, source: www.SeekingAlpha.com)

Mongo: Meet On The Go

Mongo is an exciting new mobile networking, location-based services and location-based advertising platform. With Mongo’s location-based search & matching capability and the unique concept of “Mongo Codes”, you can find and connect with colleagues, ex-colleagues, school or college mates, people attending an event or conference, people from your hometown or country, people who speak your language, people who share your lifestyle choices, fans of your favourite team, activity partners at a club, etc… all on the go. You can also buy, sell or exchange goods and services with people near you.  Download links for iPhone & iPad version:
http://itunes.apple.com/us/app/mongo-meet-on-the-go/id555269976?ls=1&mt=8

President Obama Speaks on the US Debt Ceiling Compromise

This afternoon, Congress approved a compromise to reduce the deficit and avert a default that would have devastated the economy. Speaking from the Rose Garden, President Obama thanked the American people for reaching out to their elected officials during the debate, and stressed that this compromise guarantees more than $2 trillion in deficit reduction, and will ensure that as a nation we live within our means, while still making key investments in things that lead to new jobs, like education and research. Continue reading