Artificial Intelligence: Broadridge Launches LTX, an AI-Powered Bond Trading Platform

June 18, 2020 | Artificial Intelligence, News

Broadridge teamed with Tradeweb founder Jim Toffey to create the new platform for trading corporate bonds.

Broadridge Financial Solutions, Inc., (NYSE: BR), a global fintech company with over $4 billion in revenues, unveiled its LTX platform for trading in corporate bonds. The AI-driven platform has already traded successfully in recent weeks. (THE TRADE)

AI for insight on much-needed liquidity in bonds

Liquidity is the need of the exchequer in the U.S. corporate debt market. Though the size of the market is nearly $10 trillion, only a very small portion is traded every day. Of that, only about a quarter trades electronically.

Further, according to The Trade, bond traders need more efficient access to liquidity. This is because of the complexity and opacity of the market, as well as regulatory requirements.

LTX, the new bond trading platform from Broadridge, combines artificial intelligence with RFX, a new digital execution protocol. RFX goes beyond the request for quote (RFQ) protocols.

Tim Gokey, Broadridge CEO shared some details with CrowdFund Insider on how the platform provides a 360-degree view of available liquidity:

“LTX’s RFX protocol allows dealers to unlock more value from their data and customer network by smartly identifying and efficiently aggregating liquidity across multiple buyers bidding for their desired amount, which in turn helps improve BestEx for their customers.”

“In addition, LTX AI and the new LTX Liquidity Cloud® provide a more complete view into pre-trade and post-trade liquidity, further enhancing dealers’ ability to aggregate liquidity from natural counterparties and better servicing their customers.”

LTX, a three-year project

Gokey told The Trade that Broadbridge had collaborated with several dealers and buy-side customers over the past three years to develop the AI-enabled digital platform.

Furthermore, LTX created liquidity, digitized workflows, and increased efficiency in corporate bond trading, Gokey said.

Tradeweb founder Jim Toffey will lead the LTX team.

Assisting him will be Vijay Mayadas, president of global fixed income and analytics at Broadridge, and support staff.

Related Story:     AI Fintech AiX Wants To Put Voice Brokers Out of Business

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Fintech: Indonesian, Agent-Driven Banking Network PAYFAZZ Raises $53 Million
July 6, 2020     FinTech, News

PAYFAZZ, an Indonesian fintech start-up, scooped up $ 53 million in a Series B funding round led by B Capital Group and Insignia Ventures Partners. Existing investors Tiger Global Management,…
Artificial Intelligence: Baricitinib, An AI-flagged Rheumatoid Drug, Could Treat COVID-19
July 6, 2020     Artificial Intelligence, News

Back in February 2020, researchers at BenevolentAI, a British company that uses artificial intelligence in drug discovery, were sifting through its drugs database. The objective: to find one that could…
Digital Assets: Cubans Take to Cryptos Amidst Food Shortage; Over 2,500 Austrian Merchants to Accept Cryptos
July 6, 2020     Digital Assets, News

Cuba is grappling with a national food crisis stemming from Venezuela’s decision to cut off its aid to the country. Problems have been compounded by the nonavailability, due to the…
Venture Capital: Food Delivery Start-Up Postmates Sells Out to Uber for $2.65B
July 6, 2020     News, Venture Capital

Uber Technologies Inc. (NYSE: UBER) is acquiring food delivery start-up Postmates for $ 2.65 billion in an all-stock deal, according to reports by Bloomberg and the New York Times. Uber…