AiX Completes First AI Brokered Trade
AiX, the artificial intelligence broker, announces today that it has completed the first ever trade brokered by an AI powered chatbot.
The trade is the first of its kind to use AI technology instead of the traditional human brokerage model, completing a successful cryptocurrency transaction between Rockwell Capital Management and TLDR Capital.
Jos Evans, founder and CEO of AiX, said: “This trade is a milestone in AI innovation coming to the forefront of financial services. The potential for AI to revolutionise and benefit the sector is huge and we are proud to be a part of pushing this change forward.
Enabling AI technology to disrupt the inter dealer brokerage will make trading more efficient, transparent and cheaper for professionals and over time this will trickle down to deliver savings for investors everywhere.”
The AiX broker executes trades through emulating human decision-making and natural language to handle thousands of conversations simultaneously, both with traders and systems. AiX communicates with multiple traders for the best price, allows for tailored bidding, and feeds real time information when conditions fluctuate, all in a fraction of the time it would take when dealing with traditional brokers.
Informed by machine learning, the technology autonomously discovers the best and most relevant deals for traders and over time will anticipate decision making. The trade recording feature provides a complete, auditable record of the data and decisions used to facilitate the trade, enhancing transparency in the industry.
Jon Knipper, partner at TLDR Capital, added: “This is a historic moment for market making. Not only for crypto assets, but with the potential to change traditional equity and fixed income markets. The way that AiX has integrated AI into the trading process at this level vastly simplifies the work of the investor and helps us save on the bottom line.”
“AiX represents a key step in exploring the use of AI in cryptocurrency trading,” said Brian Sewell, chief investment officer at Rockwell Capital Management. “The chatbot exemplifies how AI can help make the cryptocurrency markets more efficient.”
Concurrently to this first AI brokered trade, AiX today announced that it is currently finalising its series A investment round.
A complete regulatory audit trail of every trade will be immutably written onto the blockchain in the form of an Evidence Tree.
AiX’s artificial intelligence engine is powered by Rainbird, the first auditable cognitive reasoning engine.
With AiX, an AI-powered engine will promote greater efficiency and democratisation in the financial markets.
Velocity is a specialist accelerator for asset managers.
Compliance reporting is still largely manual.
The US exchange completed the acquisition of Sybenetix a year ago.
BIS highlights MiFID II data challenges.
Four core technologies could transform banks and the industry.