Someone made a $100 million trade with JPMorgan on their cell phone

JPMorgan is investing in technology in a big way ' and it's paying off.The CEO of the firm's corporate investment bank, Daniel Pinto, stressed the importance of technology in an annual letter to shareholders Tuesday.Specifically, he noted, one client leveraged the firm's technological capabilities to make a $100 million trade ' from a mobile phone."Our profitable Markets business, which generated an overall ROE of 17% last year, enables us to invest in innovation and the client experience," Pinto wrote."Eighty three percent of notional FX trading is now done electronically. We have seen a $100 million trade done on a mobile phone, and on peak days in 2016, $200 billion in FX was traded through our electronic channels, including our own J.P. Morgan Markets platform, which provides a range of services from research to pre- and post-trade reporting."The firm spends more than $9.5 billion on technology with an increasing percentage of that budget going towardsnew investments and innovation, according to a letter from COO Matt Zames Tuesday.Pinto said the firm fundamentally believes clients should be able to choose how to trade with JPMorgan. He emphasized that it's the firm's strong technical capabilities thatallowclients trade through turbulent times like Brexit and the US presidential election last year."The electronic evolution is advancing, and the investments we've made, and will continue to make, already are proving their merit to our clients," Pinto wrote.SEE ALSO:DIMON: We fear the EU will split apart, and it could have 'devastating economic and political effects'Join the conversation about this storyNOW WATCH: Robert Shiller on what a rate hike will do to asset prices and who Trump shouldn't put in charge of the fed
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