U.S.-based fintech Broadridge Financial Solutions announced on Tuesday its new artificial intelligence (AI)-driven digital trading platform, LTX, has been integrated with the Charles River Investment Management Solution (Charles River IMS. According to Broadridge, the integration is part of a strategy to improve efficiency in the corporate bond market.
“Integrating with LTX enables Charles River’s order and execution management system (OEMS) users to digitize workflows in order to help improve liquidity, efficiency and best execution for illiquid corporate bonds. Traders can route orders to LTX via FIX connectivity and connect to a dealer of their choice when they are ready to trade.”
Broadridge further revealed LTX was built on its U.S. Fixed Income post-trade platform, which notably processes more than $7 trillion in notional volume per day across over 40 dealer clients. The fintech also stated that LTX uses patent-pending AI and next-gen protocols that provide the buy-side and sell-side with a more complete view into pre-trade and post-trade liquidity to promote “best execution.” While sharing more details about the integration, Spiros Giannaros, CEO, Charles River Development, stated:
“By leveraging growing volumes of trade data and harnessing the next-gen AI capabilities in LTX, traders can make better informed decisions and more easily demonstrate best execution to regulators and investors. Streamlining interoperability with the sell-side enables us to be at the forefront of delivering market structure innovation.”
The integration comes just weeks after Broadridge joined forces with PPI AG to launch payments-as-a-service in Europe. As previously reported, Broadridge claimed that the new solution has already secured its first customer, a Europe-headquartered commercial bank active in corporate and private banking.
“Banks are increasingly seeking a mutualized, shared services approach to advance their core payments platform technology and operations; something that previously may have seemed out of reach is now a viable option.”