JP Jenkins (www.jpjenkins.com), the liquidity venue for unlisted assets, has this morning announced that more than 40 UK brokers are now accessing the platform, including 16 who have completed a full digital integration, allowing for buy and sell orders to now be lodged on a fully automated basis. This coincides with a move by the company to now prioritise electronic dealing to ensure maximum liquidity, transparency and scalability for the venue as it looks to harness a significant uptick in both issuer numbers and volumes traded. This coincides with a move by the company to now prioritise electronic dealing to ensure maximum liquidity, transparency and scalability for the venue as it looks to harness a significant uptick in both issuer numbers and volumes traded.
Mike McCudden, CEO of JP Jenkins, commented:
“For the past 12 months, the team at JP Jenkins has been working hard with both the broker community and capital market infrastructure providers to ensure we can fully automate our trading processes. Following the completion of this, I am delighted to announce that as from today, we are now a digital-first platform where any regulated broker or other financial institution can connect into our venue, enabling them to view indicative prices and lodge buy or sell orders against relevant securities.”
Although automation has been a popular theme in financial markets for decades, it required the deployment of specialist applications from FinTech provider InfinitX to migrate JP Jenkins from voice based services to a wholly digital approach. In addition to being able to connect via a direct API, brokers can also access JP Jenkins’ issuers via their existing connections to Order Management Systems providers IRESS and Winterflood Securities.
Andrew Stancliffe, Head of Execution Services at Winterflood Securities, added:
“2024 is now on course to be a pivotal year for venues catering to the liquidity needs of private companies. This week HM Treasury is expected to launch a consultation starting this week into the role these disruptors can play in helping to reinvigorate London’s position as a booming capital market. Winterflood looks forward to supporting JP Jenkins and InfinitX in their mission to facilitate greater liquidity in private companies”
The brokers now connected on an automated basis to the JP Jenkins platform include IG, Jarvis, AJ Bell, Charles Stanley, James Sharpe, Hargreaves Lansdown, Investec, Kyte, Rathbone, Ramsey Crookall, Interactive Investor, ITI, Intrinsic, Albert E Sharpe, Killik, Raymond James, FIS Global, Winterflood Securities and Shore Capital
