Broadridge’s corporate bond trading platform leverages GPT technology.
LTX, a corporate bond trading platform from Broadridge Financial Solutions, has a GenAI-based list trading function that will allow end-users to leverage Generative Pre-training Transformer (GPT) technology to “generate and execute multi-asset class, multi-directional trade lists” via RFQ+, officials say.
“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,” explains Jim Kwiatkowski, CEO of LTX, in a prepared statement.
The new list function uses “both third-party data as well as clients’ proprietary data,” and “addresses the ongoing need to streamline workflows as clients consistently seek to integrate GenAI into their pre-trade and trade execution processes,” officials say.
The new function builds on LTX’s leveraging of artificial intelligence (A.I.) and “advanced trading protocols like RFQ+ and RFX” that are intended to “offer greater flexibility in trading strategies,” according to Broadridge.
The debut of the new function “coincides with the one-year anniversary of LTX’s GenAI application, BondGPT,” which generates lists of bonds based on end-users specific criteria. “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,” officials say.
More than more than 90 asset managers and more than 35 dealers have joined the LTX platform, “representing a significant liquidity pool,” according to Broadridge. LTX has more than $39 billion in the Liquidity Cloud as of May 2024.
Need a Reprint?