Electronic trading surges with traders eyeing the impact of machine learning

Professional traders are anticipating artificial intelligence and machine learning to be the most influential technology over the next three years.

JP Morgan’s flagship survey reveals more than half of professional and institutional traders anticipate machine learning to lead technology.

Currently a third of client traders predict mobile trading applications to be the most influential this year. Certainly the Reddit Gamestop rally powered by low cost trading platform is already testament to just how quickly the environment has changed.

Electronic trading picked up last year and all surveyed expect to increase electronic volumes this year. FX electronic trading to increase six per cent over the next two years to 84 per cent while credit should climb 12 per cent to 40 per cent.

“Year-on-year, the first half of 2020 saw a 45 per cent increase in volume of transactions and March, perhaps unsurprisingly, saw a new high water mark for notional value traded on the bank’s Execute on Mobile channel,” Richard James, JP Morgan’s head of macro markets execution said.

“The surge in activity was driven by what was also a new high in external client logins, about 30 per cent of the bank’s user base were actively transacting over the channel with the balance accessing market information and analytics.”

Banks and other financial institutions are already starting to use AI to execute trades quicker and more efficiently. The vast majority of surveyed traders – 71 per cent – agree that machine learning provides deeper analytics while just over half agree it optimises trade execution.

Looking forward to this year, just under half of those surveyed believe the pandemic will continue to have the biggest impact on markets this year. In a sign of just how much the pandemic has taken over market discussions, international trade tensions come just fourth in traders’ concerns, with only nine per cent concerned over the prospect of trade wars.

When it comes to traders’ day-to-day life 55 per cent will continue to work from home for average of four days a week.

Published at Tue, 09 Feb 2021 06:11:15 +0000

FDA Begins Phase Two of Artificial Intelligence Imported Seafood Pilot Program

FDA is beginning phase two of its Artificial Intelligence Imported Seafood Pilot Program. The program, which is expected to run from February 1 through July 31, intends to improve FDA’s response in quickly and efficiently identifying potentially harmful imported seafood products.

Phase one of the pilot looked at using machine learning to find violative seafood shipments. “The pilot program will help the agency not only gain valuable experience with new powerful AI-enabled technology but also add to the tools used to determine compliance with regulatory requirements and speed up detection of public health threats,” FDA stated in a news release. “Following completion of the pilot, FDA will communicate on our findings to promote transparency and facilitate dialogue on how new and emerging technologies can be harnessed to solve complex public health challenges.”

The pilot program is part of the agency’s efforts that fall under the New Era of Smarter Food Safety.