JP Morgan and Societe Generale invest in trader fintech Wematch
JP Morgan and Societe Generale have invested in fintech for traders Wematch, which is changing the way voice-traded financial markets operate.
Wematch now has 40 banks and more than 750 traders using the platform
The Israeli company has created plug-and-play technology which finds the best trading opportunities and gives users an opportunity to negotiate and manage trades with the audit and control benefits of electronic tools.
Wematch now has 40 banks and more than 750 traders using the platform, bringing e-trading to another traditionally over-the-phone sector of investing.
“We are delivering the next generation in trading protocols, with an intuitive graphical user interface (GUI) and workflow tools to give voice trading professionals the edge,” says Wematch CEO, Gregory Mimoun.
He adds: “Everything we build is designed to support the trader’s decision, giving them the tools to make the right call with confidence and certainty.”
Wematch secured its investment after going through JP Morgan’s in-residence programme and Societe Generale’s Global Markets Incubator.
Having previously just been users of the fintech’s platform, now JP Morgan and Societe Generale will be investors in it.
JP Morgan’s markets lab head, Pasquale Cataldi, is proud to be an early supporter of WeMatch. “The platform showed real potential to transform the interbank interest rate dealing market through automation, resulting in audit and control benefits. The level of market adoption has already been encouraging and we’re delighted to continue the journey with them,” says Cataldi.
