Artificial Intelligence: Broadridge Brings AI To Bond Trading Via BondGPT
BondGPT is an application powered by OpenAI GPT-4 that can identify corporate bonds on the LTX trading platform.
Broadridge Financial Solutions has introduced an AI-powered application called BondGPT on its LTX platform, aiming to revolutionize bond selection and portfolio construction processes. BondGPT utilizes OpenAI GPT-4 technology to provide a conversational interface that helps traders identify corporate bonds based on specific criteria.
By combining generative AI with cutting-edge analytics and a comprehensive dataset, BondGPT enhances liquidity and price discovery in the $10.3 trillion US corporate bond market.
The LTX platform has established a substantial liquidity pool, with over 30 dealers and more than 80 asset managers. It has generated significant market activity, with over $7 billion in firm orders initiated and an average daily volume surpassing $25 billion in the Liquidity Cloud during Q1 2023. As a result, LTX has successfully attracted numerous prominent asset managers and dealers from around the world.
Broadridge plans to release more products and services leveraging AI in the future. The adoption of AI in the financial industry is a growing trend, with companies like Bitget and Tiger Brokers also exploring AI solutions.
AI is expected to have a significant impact on various financial applications, including fraud detection and customer service.
Related Story: Tidal Files For ETF (CHAT) To Capture The Conversational AI Theme
Photo by Mariia Shalabaieva on Unsplash
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