Further building on its GenAI focus in the fixed income market, LTX, an AI-powered corporate bond trading platform backed by global Fintech Broadridge Financial Solutions Inc. (NYSE:BR), announced GenAI-powered List Trading functionality.
The new feature allows users “to leverage GPT technology to generate and execute multi-asset class, multi-directional trade lists seamlessly via RFQ+.”
Jim Kwiatkowski, CEO of LTX said:
“In response to clients’ positive engagement with our GenAI-powered app BondGPT and their request for similarly innovative trading capabilities, we developed GenAI-powered List Trading. This new functionality builds on LTX’s foundation leveraging powerful AI and advanced trading protocols like RFQ+ and RFX to improve efficiency, increase time savings and offer greater flexibility in trading strategies.”
This new capability addresses the ongoing need “to streamline workflows, as clients consistently seek to integrate GenAI into their pre-trade and trade execution processes.”
The introduction of this functionality coincides “with the one-year anniversary of LTX’s GenAI application, BondGPT.”
Within the LTX platform, traders can “use BondGPT to generate lists of bonds based on their specific criteria easily and quickly, then seamlessly construct and execute their list of trades.”
Traders can define rules for auto-execution, “allowing greater workflow efficiency.”
BondGPT+ users can further enhance their portfolio management processes “by using GenAI on their inventory and positions to inform portfolio construction decisions.”
To date, more than more than 90 leading asset managers and “more than 35 dealers have joined the LTX platform, representing a significant liquidity pool.”
LTX has attracted many of the world’s asset managers and dealers, with “over $39 billion in the Liquidity Cloud in May 2024.”
As noted in the update, LTX is an electronic trading platform “that enables corporate bond market participants to trade smarter, combining powerful, patented artificial intelligence with innovative e-trading protocols to improve liquidity, efficiency, and execution.”
The Liquidity Cloud is the LTX network “of anonymous real-time buy- and sell-side indications of interest which include CUSIP, direction, price, and size.”
LTX is a division of Broadridge Business Process Outsourcing LLC, “the broker-dealer subsidiary of Broadridge Financial Solutions.”
As mentioned in the announcement, Broadridge Financial Solutions, a global Fintech “with over $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives.”
They deliver technology-driven solutions “that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies.”
Broadridge’s infrastructure serves as “a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world.”