Broadridge’s LTX ® and Charles River Development to Take Corporate Bond Trading to the Next Level Using Artificial Intelligence
Integration digitizes workflows to improve liquidity and efficiency in the market
NEW YORK, N.Y. – October 27, 2020 - Broadridge Financial Solutions, Inc. (NYSE:BR), a global fintech leader, today announced that its 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 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.
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 $7 trillion in notional volume per day across 40+ 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 AlphaSM, 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,” said 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,” said 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.
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with over $6 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We 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. Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries.
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