2026 · Evidence audit

J.P. Morgan e-FX (Morgan Markets) — institutional liquidity provider

J.P. Morgan e-FX operates under JPMorgan Chase & Co., founded in 1799. It holds Tier-1 licenses in both the US and UK. Self-measured claims include $40bn in daily FX volume and a broad market share across multiple currency pairs.

JPMorgan Chase & Co. (FX via J.P. Morgan Securities LLC, US; J.P. Morgan Securities plc → J.P. Morgan Europe Ltd, UK) · New York, USA · last re-checked 2026-09 · evidence score 98/100

Licence, read on the register

Regulator	Licence number	Jurisdiction	Tier	Source
SEC/FINRA (BrokerCheck, J.P. Morgan Securities LLC)	8-35008	US	tier-1	open source ↗
FCA (J.P. Morgan Securities plc)	155240	UK	tier-1	open source ↗
SEC (EDGAR, JPMorgan Chase & Co.)	0000019617	US	tier-1	open source ↗

Tier classification follows the same scale as the retail register: tier-1 = FCA/ASIC/CFTC-class supervision, tier-2 = CySEC/FSC-Mauritius/MFSA-class, tier-3 = offshore registration. A tier-2 licence is genuine supervision without an investor compensation scheme — never misread it as tier-1 protection.

What the firm commits to

Claims specific enough to be falsified — and the ones that remain the venue's own measurement.

Testable claims

J.P. Morgan's FX platform trades a breadth of orders across 300+ currency pairs as a leading liquidity provider (jpmorgan.com markets/execute/fxtrading)
J.P. Morgan Markets Transact spans the complete pre-trade, trade and post-trade FX workflow, executing across 20 global J.P. Morgan branches (markets.jpmorgan.com)
JPMorgan Chase traces its founding to New York City's first water company in 1799 (jpmorganchase.com our-history)

Claims we cannot verify from outside

$40bn daily rates / FX volume figures on markets.jpmorgan.com (self-measured)
FX market-share rankings (self-measured)

Perimeter and coverage

Asset classes	Venues	Connectivity	Clients accepted	Explicitly refused
FX spot, FX forwards, FX swaps, NDFs, FX options	EBS, Reuters, CME FX, CLS	FIX, REST/API, J.P. Morgan Markets (Transact) platform, FX Aggregator tool	Banks, Institutional investors, Asset managers, Hedge funds, Corporates	Retail clients

A firm that publishes its own negative space — who it refuses, where it is not licensed — is materially easier to diligence than one that doesn't. The refusal list is treated here as a disclosure, not a defect.