Broadridge Financial Solutions’ new artificial intelligence (AI)-driven digital trading platform, LTX, has been integrated with the Charles River Investment Management Solution (Charles River IMS) as 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 digitalise 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.
Created with Jim Toffey, founder of Tradeweb Markets, and Vijay Mayadas, President of Capital Markets, Broadridge, LTX is built on Broadridge’s US Fixed Income post-trade platform, which processes over USD7 trillion in notional volume per day across 40-plus dealer clients. 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.
“As the foundation of State Street Alpha, open architecture and interoperability are at the core of Charles River IMS and working with LTX will further enhance our customers’ ability to trade smarter with their dealers,” says Spiros Giannaros, CEO, Charles River Development. “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.”
“Our integration with Charles River further empowers institutional investors and their dealers to better connect and trade corporate bonds digitally to access aggregated liquidity from a vast network of natural counterparties,” says Jim Toffey, President of LTX.
The integration enables buy-side traders to work with their dealers, quickly identifying the right customers that may be the natural buyers and sellers for any bond using LTX AISM. That dealer can then digitally invite those targeted customers to their trade opportunity to dynamically aggregate liquidity across their customers, helping to deliver improved best execution to that buy-side account.