Jim Toffey, CEO of LiquidX and Vijay Mayadas, President, Global Fixed Income and Analytics at Broadridge, lead LTX with the support of a team of fixed income sales and trading professionals, technologists and data scientists.
LTX platform combines AI to locate and connect natural counterparties with a new digital protocol, RFX. It allows dealers to efficiently aggregate liquidity across multiple counterparties and create trading opportunities in seconds. The role dealers play is amplified and they are able to solve key needs for the buy-side.
The RFX protocol enables dealers to unlock more value from their data and customer network by identifying and aggregating liquidity across multiple buyers bidding for their desired amount, which in turn improves BestEx for their customers. LTX AI and the new LTX Liquidity Cloud also provide complete view into pre-trade and post-trade liquidity, further improving the ability of a dealer to aggregate liquidity from natural counterparties and better servicing their customers. These functionalities allow broker-dealers and asset managers to digitize complex processes for more efficient corporate bond trading. Utilizing next-gen technologies is part of Broadridge’s investment in The ABCDs of Innovation (AI, blockchain, the Cloud and digital), helping move the markets forward into the future.
The US corporate debt market has increased to almost $10 trillion with only a small fraction traded daily and an even smaller fraction traded electronically. Less than 25% of the traded bonds are done so electronically. The markets today increase the need for efficient access to liquidity. Greenwich Associates report published in January 2019, stated that 82% of corporate bond investors found trades sized over $15 million “very difficult” to execute. LTX’s AI, Liquidity Cloud and RFX address the challenges investors face.
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