You Haven’t Lived Until You’ve Placed A $100 Million Trade On Your Cell Phone - Dealbreaker

You Haven’t Lived Until You’ve Placed A $100 Million Trade On Your Cell Phone

There's no thrill like moving nine digits of forex assets from the can.

Jamie Dimon wants you to know that Goldman Sachs isn’t the only tech firm on Wall Street. “We are a technology company, too,” Dimon told a group of overeager business students after the release of his magisterial letter to shareholders Tuesday. To underscore the now-obligatory point, Dimon cited some notable recent activity on JPMorgan’s mobile trading platform: “We had someone do a $100 million forex trade on their mobile phone.”


JPMorgan investment banking CEO Daniel Pinto expanded on the point in his own letter:

Eighty three percent of notional FX trading is now done electronically. We have seen a $100 million trade done on a mobile phone, and on peak days in 2016, $200 billion in FX was traded through our electronic channels, including our own J.P. Morgan Markets platform, which provides a range of services from research to pre- and post-trade reporting.

Forget skydiving or cocaine or whatever – you haven’t really truly lived until you’ve disregarded a Facebook notification and a Tinder message in order to move nine digits in the foreign exchange markets at the touch of a single pudgy thumb. All they need to do is teach Carl Icahn to use a cell phone and we'll be hearing about a billion-dollar mobile trade soon enough. 

Someone made a $100 million trade on their cell phone [Business Insider]