Artificial Intelligence: Aiden, The AI-Powered Electronic Trading Platform From RBC
RBC’s traders worked with AI scientists to develop the platform.
RBC Capital Markets has leveraged Artificial Intelligence (AI) to achieve improved trading results and insights for its clients. Aiden, RBC’s electronic trading platform uses a deep neural network, centralized learning, a robust reward system, and exploration as the four key components in its global framework. The platform can learn from its interactions with the market and adjusts itself on the fly to fast-changing trading conditions. (The TRADE)
Aiden is capable of its real-time learning on an action-by-action basis. It also has the ability to discover new trading relationships through processing the data.
These features enable Aiden to be proactive – it can anticipate events and take calculated action.
Aiden handled well the immense market volatility experienced during COVID-19.
“Aiden was able to recognize the sudden changes in the market and adapt to them, allowing it to preserve performance,” said Shary Mudassir, Co-Head of Global Equities Execution, RBC Capital Markets in a statement. “The Aiden platform is part of our vision to be one of the best in the world at unlocking the potential of Artificial Intelligence and delivering those insights to our clients in an explainable way.”
One of the first algorithms to run on Aiden is designed to reduce slippage against the market volume-weighted average price (VWAP).
According to Jas Sandhu, Head of Equities Algorithmic Trading, RBC Capital Markets, the algorithm significantly reduced slippage in the US equity market.
The Aiden platform utilizes hundreds of pre-programmed data inputs and can make more than 32 million calculations per order. It does not need continuous re-coding like traditional trading algorithms.
RBC Capital Markets and Borealis AI jointly developed the Aiden platform.
RBC created Borealis AI, a world-class AI research center. It is led by award-winning inventor and entrepreneur Dr. Foteini Agrafioti.
Dr. Agrafioti has been named in “Forbes’ List of Women Defining AI.”
She also finds a place in “IT World’s 10 Women Advancing AI in Canada.”
“Aiden is a big scientific milestone, demonstrating that new technology based on reinforcement learning can succeed in complex environments,” says Dr. Agrafioti.
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