Broadridge’s LTX Trading Platform Tabs 7 Chord for Pricing
Broadridge’s AI-driven Corporate Bond Trading Platform LTX® Selects 7 Chord as Third-Party Pricing Provider
Platform offers greater insights into pre-trade liquidity
BondDroid’s AI-generated prices are integrated directly into LTX’s pre-trade analytical tools, giving dealers and institutional investors a complete view into actual market liquidity before they trade, while controlling information leakage and at no additional cost to LTX users.
“The LTX platform empowers dealers and institutional investors to better connect and trade corporate bonds digitally using AI that offers greater insights into pre-trade price transparency and liquidity,” said Vijay Mayadas, President, Capital Markets at Broadridge. “BondDroid’s AI provides our clients with a more reliable baseline to measure the quality of execution they achieved through our digital trading protocol, RFX®.”
LTX works by combining powerful AI to connect natural counterparties with a new digital trading protocol, RFX, that enables dealers to efficiently aggregate liquidity across multiple counterparties in seconds. Identifying the natural counterparties for a trade depends on a realistic understanding of fair market value. Built on streaming data and optimized for live trading, BondDroid uses AI to quickly adapt its behavior in real-time to variations in pricing.
“BondDroid is a next-generation pricing solution built for a modern institutional fixed income trader,” said Kristina Fan, CEO and Founder, 7 Chord. “2020 provided us with the ultimate test, and BondDroid passed with flying colors. While many traditional vendors struggled to produce accurate prices in March in a timely manner, BondDroid had no issues handling elevated transaction volume, wildcard events and unprecedented volatility.”
Announced in June, the LTX platform uses its patent-pending AI (LTX AISM) to create liquidity, digitize workflows and increase efficiency in the corporate bond market and is being embraced by leading broker-dealers and asset managers.
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4 billion global Fintech leader, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. Broadridge’s infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than U.S. $8 trillion in fixed income and equity securities trades per day. Broadridge is part of the S&P 500® Index and employs over 12,000 associates in 17 countries.
For more information about Broadridge, please visit www.broadridge.com
For more information about LTX, please visit www.ltxtrading.com
About 7 Chord
7 Chord, Inc. is an independent provider of predictive pricing and analytics. BondDroid®, its award-winning proprietary AI engine, is used by traders and investors to stream predictive prices and signals for bonds. Optimized for the live trading environment, BondDroid Auto-Pricer can be installed as a customizable software package that extracts signals from public, vendor, and a client’s proprietary data without ever leaving their corporate environment. Don’t want to manage AI in house? We offer a cloud solution that streams prices and signals while leveraging 7 Chord’s computing power and curated data sources. www.7-chord.com.
AI/ML on the buy-side trading desk is a long-term program with short- and mid-term deliverables.
Aiden uses the computational power of deep reinforcement learning to improve trading results and insights.
Fintech firm has partnered with Jim Toffey, founder of Tradeweb Markets, to create LTX.
Tradeweb AI tool makes it possible to calculate reference pricing in seconds based on dynamic market data.
Markets Choice Award winning product is a pioneering and innovative data visualization tool.