JPMorgan, Societe Generale invest in Wematch

Trading FinTech Wematch has announced new funding from big banks.

In Brief:

• Wematch has 40 banks and around 750 traders on its platform.

• It helps traders and banks match, negotiate and manage trades.

• The FinTech came out of a program by JP Morgan and an incubator by Societe Generale.

What does this mean?

The firm aims to transform trading which is traditionally still done over the phone – the new investment will help roll its service out across markets.