Helping you adapt to conditions
The intelligent, liquidity-seeking algorithm for equities
Aqua helps you navigate the liquidity landscape across the globe
while minimizing market impact.
Using real-time analytics and advanced statistical modeling, Aqua adapts to market conditions
to maximize liquidity capture efficiently.
With six user-specified urgency levels ranging from passive dark participation to aggressive liquidity taking, you can configure the strategy around your individual trading objectives.
Maximizing access to block liquidity can improve your execution performance in today’s fragmented market. Use Aqua Blocks — an urgency level in J.P. Morgan’s Aqua — to source sizable liquidity and gain comprehensive access to block venues.
|Price (USD)||< 500K||500–2M||2M+|
|Percentage of Large In Scale (LIS)2|
|Minimum Order Size (% of LIS)||Minimum Execution Size (% of LIS)|
|Turquoise Plato Block Discovery||100||100|
JPM-X is J.P. Morgan’s fully dark, continuous crossing platform that offers enhanced liquidity and the opportunity for price improvement. Our customizable, tiered structure supports selective crossing so you can control the order flow types with which you interact.
Tap into JPM-X directly or through J.P. Morgan’s suite of algorithms and smart order router.
Learn more about the quantitative models that drive Aqua.
Requires access to J.P. Morgan Markets
Equities analytics solutions across the trade life cycle available on J.P. Morgan MarketsLearn more about J.P. Morgan Analytics+
Aqua takes advantage of optimal liquidity scenarios, managing impact and adverse price selection with the principal objective of managing implementation shortfall.Learn more about Aqua for Futures
Market-leading research and trade execution across multiple asset classes, including credit, equities and FX.Learn more about Markets
FOR INSTITUTIONAL & PROFESSIONAL CLIENTS ONLY – NOT INTENDED FOR RETAIL CUSTOMER USE
The products, services and/or materials contained on this site may not be suitable for your particular circumstances and may not be available in all jurisdictions or to all clients.
The content on this site is provided for informational purposes only and is subject to change without notice. It is not intended as research, a recommendation, advice, offer or solicitation to buy or sell any financial product or service, or to be used in any way for evaluating the merits of participating in any transaction. Please consult your own advisors regarding legal, tax, accounting or any other aspects including suitability implications for your particular circumstances. J.P. Morgan disclaims any responsibility or liability whatsoever for the quality, accuracy or completeness of the information herein, and for any reliance on, or use of this material in any way. No information on this site may be reproduced, redistributed or transmitted, in whole or in part, without the prior written consent of J.P. Morgan. Any unauthorized use is strictly prohibited. Clients should contact their salespersons at, and execute transactions through, a J.P. Morgan entity appropriately licensed in the client’s home jurisdiction unless governing law permits otherwise. This material is a “solicitation” of derivatives business only as that term is used within CFTC Rule 1.71 and 23.605. Where this material is an “investment recommendation” as that term is defined in MAR visit: www.jpmm.com/#mardisclosures. This site is subject to terms at: www.jpmorgan.com/salesandtradingdisclaimer.
J.P. Morgan is a marketing name for investment banking businesses of J.P. Morgan Chase & Co. and its subsidiaries and affiliates worldwide. Bank products and services, including certain lending, derivative and other commercial banking activities, are offered by JPMorgan Chase Bank N.A. (JPMCB), including through its authorized branches and other global affiliates registered with local authorities as appropriate. Securities products and services, including execution services, are offered in the United States by J.P. Morgan Securities LLC (JPMS LLC), in EMEA by J.P. Morgan Securities plc (JPMS plc) where permitted and in other jurisdictions worldwide by other appropriately licensed global affiliates. JPMCB, JPMS LLC and JPMS plc are principal subsidiaries of JPMorgan Chase & Co. For information on which legal entities offer investment banking products and services in each jurisdiction, please consult: www.jpmorgan.com/ib-legal-entities. For important disclosures in respect of securities transactions, please consult: www.jpmorgan.com/securities-transactions and in respect of over-the-counter equity derivatives transactions, please consult: www.jpmorgan.com/otc-equity-derivative-transactions.
For additional regulatory disclosures, please consult: www.jpmorgan.com/disclosures.