Jennings Execution Management Systems
and compliance track record that began operations in April of 2005 in Sarasota, Florida. JCM was created with the
sole purpose of developing and executing algorithmic and discretionary trading systems and strategies for the
benefit of our clients. JCM’s President, Burr Jennings is a registered series 3 and has worked within the field of
electronic trading in significant roles since 1997.
In 2014 work began at JCM on the development of a new suite of algorithms aptly named JEMS - Jennings
Execution Management Systems. JEMS is an add-on Execution Management System (EMS) application that can
be used with most institutional and retail trading platforms such as Bloomberg, Trading Technologies, REDI, CQG,
Cunningham, TradeStation, Ninja and many others. JEMS purpose is to isolate objective market opportunities in
which risk can be reduced to a level so low that it is nearly impossible to manage outside of the digital arena.
What makes JEMS so special?
JEMS is a software application borne from the detrimental anomalies of the 2008 financial crisis, the 2010 flash
crash and from over 30 years of active trading and investing. JEMS is a specific solution for methodically reducing
risk while exponentially increasing profitability in both bull and bear markets. JEMS integrates a dynamic order
execution process with proprietary risk and money management algorithms unavailable on even the most
expensive commercial trading applications. JEMS was designed intentionally to facilitate the very best execution
possible within Index, ETF and Commodity products that offer excellent liquidity and the capacity to mitigate risk
JEMS reduces the need for user intervention before and during the execution process, thereby eliminating latency
and the vast majority of costly errors. There is no limit to the number of different markets traded at any given time
affording tremendous scalability.
JEMS can mitigate risk to less than 1/10th of 1% of cash value in desired markets with the capacity of returning
profits in excess of 1 to 20 risk-to-reward ratios in any economic environment including recessions. JEMS utilizes a
proprietary fixed-fractional risk management system that has a dynamic money management component which
methodically adds to existing winning positions while maintaining the original low-risk parameters. JEMS is never
reliant on a strong win-to-loss ratio to be successful.
Significant influence for JEMS originally came from Ralph Russell, Ed Thorpe and Ralph Vince, each a legend
within the risk and money management arena. JEMS subscribes to the concept that “if it is not objective and easily
understandable then the long-term outcome will likely not be robust.” JEMS has a very clear and objective mission.
What JEMS Is Not
JEMS does not decide on the market or products to be traded nor directional bias. These decisions are always
made in advance by an experienced end-user.
JEMS profitability is not predicated on the capacity to pick winning scenarios. Its success comes from a set of
proprietary risk and money management algorithms and not from a high percentage of winners. JEMS can
operate with less than a 25% win rate and be quite profitable.
JEMS is not a high-frequency trading (HFT) application. While it can benefit from expensive server collocation at
exchanges, it is not necessary.
For more than 2 decades Burr Jennings has been a trading technology EMS architect working in various
significant capacities in the design and assimilation of electronic trading platforms for both retail and institutional
end-users. Below is a time-line representing Mr. Jennings vast accomplishments within this extraordinary field.
1997 TradeStation Technologies, retail end-user – Strategy development
1998 REDI Plus, institutional user – Spear, Leeds and Kellogg (sold to Goldman Sachs)
1999 Cybercorp Cybertrader, institutional developer & licensee (sold to Charles Schwab)
2000 Real Tick, institutional end-user – Townsend Analytics (sold to Lehman)
2001 Direct Access Trading Academy, Founder – Education for self-directed investors
2001 InstaQuote, institutional developer and licensee (Sold to Bank of America)
2003 Strategy Runner, retail developer
2004 Sarasota Futures Group, Co-Founder, brokerage sold in 2008 to focus on CTA
2005 Jennings Capital Management, Founder, Commodity Trading Advisor (CTA)
2008 A top CTA in the U.S. with a nearly 100% average return to clients after all fees
2009 Again, a top CTA in the U.S. with a nearly 100% average return to clients during the most difficult year since
the great depression.
2010 First migration to fully autonomous trading – with disastrous results on May 6th (The Flash Crash)
2013 Abandonment of fully autonomous trading and the gravitation to what is now JEMS
2014 First lines of code are written initially in Excel and ultimately in C++ for JEMS
2015 JEMS begins simulation trials
2017 JEMS begins beta trials
2018 JCM launches JEMS live in the JCM Index program
2019 JCM introduces The JCM Micro Index program
1. Is this a finished and working product or under development?
JEMS is a finished product. Currently JEMS can be demonstrated “live” in any commodity market under real-time
conditions. Most notable and frequently traded are the equity indexes of the S&P 500, Nasdaq 100 and Dow 30.
2. Is this “day-trading” software?
Yes and no. The mitigation of risk will always be executed on an intra-day basis. The profit side of the equation
may be held for several days, weeks, even months
3. Who owns JEMS?
Burr Jennings (a registered Series 3 representative) and Jennings Capital Management (a 14-year-old registered
CTA) own 100% of JEMS proprietary technology and IP with no JEMS debt or liabilities.
4. Does JEMS have a focus or mastery beyond risk and money management?
JCM designed JEMS specifically for commodity and index trading including ETF’s. JEMS thrives in any liquid
market that offers reasonable characteristics to mitigate risk and expand reward. JEMS operates within the
confines of a specific robust methodology tailored to take maximum advantage of both bull and bear markets.
5. In summary, how would you best describe JEMS?
JEMS is a professional end-user application, hyper-focused on the mitigation of risk with the end-result being
extraordinary returns in both bull and bear markets. JEMS works!
For additional information please contact:
Jennings Capital Management