Broadridge's LTX® and Charles River Development to Take Corporate Bond Trading to the Next Level Using Artificial Intelligence

Rhea-AI Summary

Broadridge Financial Solutions (NYSE:BR) has announced the integration of its AI-driven trading platform, LTX, with Charles River Investment Management Solution. This collaboration aims to enhance efficiency in the corporate bond market by enabling users to digitize workflows, improving liquidity and execution for illiquid corporate bonds. LTX processes over $7 trillion daily and utilizes next-gen AI to provide insights for better trading decisions. The partnership is positioned to empower institutional investors to connect more effectively with dealers, optimizing trade execution.

Positive

• Integration with Charles River IMS enhances trading efficiency in corporate bonds.
• LTX processes over $7 trillion daily, providing robust trading capabilities.
• Utilizes AI and next-gen protocols for improved liquidity and execution.

Negative

• None.

NEW YORK, Oct. 27, 2020 /PRNewswire/ -- 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 Alpha℠, 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 AI^SM. 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.

About Broadridge Financial Solutions
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

Contact Info:

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

 

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the significance of Broadridge's integration with Charles River IMS for BR stockholders?

This integration enhances trading efficiency in corporate bonds, potentially improving revenue generation opportunities for Broadridge (NYSE:BR).

When was the integration of LTX with Charles River announced by Broadridge?

The integration was announced on October 27, 2020.

How does LTX improve the trading process for corporate bonds?

LTX allows traders to digitize workflows, improving liquidity and best execution for illiquid corporate bonds.

What financial volume does Broadridge's LTX handle daily?

LTX processes over $7 trillion in notional volume daily.

Who are the key figures involved in the creation of LTX?

Jim Toffey, founder of Tradeweb Markets, and Vijay Mayadas, President of Capital Markets at Broadridge, were key figures in LTX's creation.