Broadridge's AI-driven Corporate Bond Trading Platform LTX® Selects 7 Chord as Third-Party Pricing Provider

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) has partnered with 7 Chord to integrate BondDroid, an AI-driven predictive pricing solution, into its LTX corporate bond trading platform. This collaboration aims to enhance pre-trade price transparency and liquidity for dealers and institutional investors. The BondDroid AI provides independent assessments of market values while seamlessly integrating into LTX’s pre-trade analytics. Broadridge's LTX platform utilizes AI to optimize liquidity and efficiency in corporate bond trading, and is gaining traction among leading financial institutions.

Positive

• Strategic partnership with 7 Chord enhances LTX platform capabilities.
• Integration of BondDroid offers independent market assessments, improving trading decisions.
• LTX platform utilizes advanced AI to optimize liquidity and workflows in bond trading.
• BondDroid's AI effectively managed high transaction volumes during market volatility in 2020.

Negative

• None.

NEW YORK, Oct. 6, 2020 /PRNewswire/ -- Broadridge Financial Solutions, Inc.  (NYSE:BR), a global Fintech leader, today announced that it selected 7 Chord, an independent predictive pricing and analytics provider, as the source for intraday corporate bond prices on its new artificial intelligence (AI)-driven, digital corporate bond trading platform, LTX^®.  Advanced analytics sit at the core of LTX, and the integration with BondDroid^®, 7 Chord's award-winning predictive pricing engine for bonds, provides buy-side firms and dealers with an independent assessment of current market value to inform critical investment decisions.

BondDroid's AI-generated prices are integrated directly into LTX's pre-trade analytical tools, giving dealers and institutional investors a complete view into actual market liquidity before they trade, while controlling information leakage and at no additional cost to LTX users.

"The LTX platform empowers dealers and institutional investors to better connect and trade corporate bonds digitally using AI that offers greater insights into pre-trade price transparency and liquidity," said Vijay Mayadas, President, Capital Markets at Broadridge. "BondDroid's AI provides our clients with a more reliable baseline to measure the quality of execution they achieved through our digital trading protocol, RFX^®."

LTX works by combining powerful AI to connect natural counterparties with a new digital trading protocol, RFX, that enables dealers to efficiently aggregate liquidity across multiple counterparties in seconds.  Identifying the natural counterparties for a trade depends on a realistic understanding of fair market value. Built on streaming data and optimized for live trading, BondDroid uses AI to quickly adapt its behavior in real-time to variations in pricing.

"BondDroid is a next-generation pricing solution built for a modern institutional fixed income trader," said Kristina Fan, CEO and Founder, 7 Chord. "2020 provided us with the ultimate test, and BondDroid passed with flying colors. While many traditional vendors struggled to produce accurate prices in March in a timely manner, BondDroid had no issues handling elevated transaction volume, wildcard events and unprecedented volatility."

The LTX platform uses its patent-pending AI (LTX AI^SM) to create liquidity, digitize workflows and increase efficiency in the corporate bond market and is being embraced by leading broker-dealers and asset managers.

About Broadridge

Broadridge Financial Solutions, Inc. (NYSE: BR), a $4 billion global Fintech leader, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers and corporate issuers. Broadridge's infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than U.S. $8 trillion in fixed income and equity securities trades per day. Broadridge is part of the S&P 500® Index and employs over 12,000 associates in 17 countries.

For more information about Broadridge, please visit www.broadridge.com
For more information about LTX, please visit www.ltxtrading.com

About 7 Chord

7 Chord, Inc. is an independent provider of predictive pricing and analytics. BondDroid®, its award-winning proprietary AI engine, is used by traders and investors to stream predictive prices and signals for bonds. Optimized for the live trading environment, BondDroid Auto-Pricer can be installed as a customizable software package that extracts signals from public, vendor, and a client's proprietary data without ever leaving their corporate environment. Don't want to manage AI in house? We offer a cloud solution that streams prices and signals while leveraging 7 Chord's computing power and curated data sources. www.7-chord.com.

Investors:

W. Edings Thibault
Investor Relations
+ 1 516-472-5129
Edings.thibault@broadridge.com

Media:

Tina Wadhwa                                     
Broadridge Financial Solutions
+1 212-973-6164                   
tina.wadhwa@broadridge.com

Jay Lubin
7 Chord
press@7-chord.com

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What recent partnership did Broadridge Financial Solutions (BR) announce?

Broadridge announced a partnership with 7 Chord to integrate BondDroid into its LTX corporate bond trading platform.

How does BondDroid improve trading for Broadridge's LTX platform?

BondDroid provides predictive pricing and analytics, enhancing pre-trade price transparency and liquidity for users.

What is the significance of the LTX platform in the bond market?

The LTX platform, utilizing AI, aims to digitize workflows and increase efficiency in corporate bond trading.

What challenges did BondDroid face during market volatility?

BondDroid successfully handled elevated transaction volumes and pricing accuracy during significant market fluctuations in 2020.

What is the market impact of Broadridge's AI-driven trading platform?

Broadridge's LTX platform enhances market liquidity and trading decisions, which could positively influence its stock performance.