J.P. Morgan Selects Unix For Program-Trading Group
MANAGEMENT AND STRATEGY
J.P. Morgan Securities Inc. has begun laying a UNIX foundation for its first New York-based program-trading operation. The group will be led by Leslie Durschinger, a trader who left Merrill Lynch & Co. to join Morgan three weeks ago.
Morgan will first develop applications for proprietary trading of listed options and futures, eventually extending the system to include sales-trader access and a block-trading application. A longer-term goal is to integrate the listed- equities system with Morgan's
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