JP Morgan looks to commercialise front-office risk system
JP Morgan is looking to commercialise a front-office system called Athena that was built for its traders, making it available to clients as early as 2018, according to unnamed sources. The system covers commodities, credit, foreign exchange and rates books, integrating pricing, deal entry and risk management. BlackRock reported returns of $529m after licensing its Aladdin platform to other asset managers, Goldman Sachs also commercialised its front-office system, SecDB, last year. Sources suggest JP Morgan is considering a subscription fee for Athena that targets the buy side as well as smaller regional banks.

Athena system could unlock range of functions for clients – but how will they pay for it?

JP Morgan is planning to let clients use its front-office risk system, according to three sources familiar with the project – the second big dealer to look at commercialising technology that was originally built to give the bank's traders an edge.

Goldman Sachs made its front-office system, SecDB, available to clients last year. Both banks can look to the example of BlackRock, which made $529 million in 2015 by licensing its Aladdin platform to other asset managers, according to the firm's