Named First Runner Up, The Americas, in the 2023 Gartner® Eye on Innovation Awards for Financial Services for BondGPT
Recognizing financial services companies for their innovative use of technology to drive best-in-class initiatives
Gartner Eye on Innovation Awards for Financial Services recognize financial services companies for their innovative use of technology to drive best-in-class initiatives. All submissions are assessed by Gartner, and finalists are selected by benchmarking against world-class performance standards across three regions: APAC, EMEA and the Americas.
Hello, I’m Jim Kwiatkowski, CEO of LTX, an electronic trading platform that combines powerful AI with innovative trading protocols.
Our mission is to improve liquidity and efficiency in the corporate bond market.
We launched BondGPT in June of this year to a very positive reception from clients, partners, and the media.
BondGPT is a generative AI application that answers complex questions about bonds in seconds.
Using natural language, users can identify bonds and ask detailed questions about markets, sectors, issuers, trading activity, and trends to help them construct portfolios and identify trading opportunities.
Fixed income is a segment of the financial markets which requires participants to continuously evaluate many pieces of disparate data.
Front office market participants need to make quick decisions and they often struggle with a lack of pre-trade transparency, though not for lack of data.
On the contrary, traders are inundated with an overabundance of data in different formats from multiple sources and systems.
Despite data being everywhere, it is often not usable or easily integrated into trading workflows.
BondGPT solves the pre-trade intelligence challenge in a small chat-box.
Natural language capabilities allow users to ask questions that would typically require access to multiple different datasets, often through different user interfaces, all at once.
BondGPT incorporates high-quality, industry standard datasets as well as liquidity and dealer selection data that is proprietary to LTX.
It is powered by LTX’s patent-pending bond similarity model.
The LLM is made even more powerful by the incorporation of bond market jargon, so that it can understand common trading desk vernacular.
BondGPT avoids hallucinations – it does not use the LLM for bond data, instead it uses the LLM to understand the question and returns data from proven industry and proprietary sources.
There is an AI-powered compliance rule engine within BondGPT - it utilizes an adversarial AI agent to systematically review responses to ensure they meet compliance rules.
It also incorporates risk controls that safeguard clients’ proprietary information.
We’re seeing growing BondGPT use cases in just a few months since launch across hundreds of unique users.
GPT technology has enabled us to drive innovation more quickly than ever, implementing over 25 enhancements since launch, based on continuous customer feedback, including new features and data sets.
By using a range of commercially available and proprietary data and models, BondGPT returns timely, accurate responses generated from the seamless blending of the various datasets.
We’ve heard from our clients about the time they’re saving using BondGPT, and the confidence this has given them in their decision-making across a variety of front-office use cases.
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