Broadridge's LTX® Granted Patent for Innovative RFX® Protocol to Significantly Improve Corporate Bond Trading

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) announced that its subsidiary LTX received U.S. Patent No. 10922773 for the RFX digital trading protocol, enhancing corporate bond trading. This AI-driven technology aims to boost liquidity and execution efficiency for broker-dealers and their clients, processing over $10 trillion in trades daily. The protocol allows brokers to better aggregate liquidity and deliver improved trade executions. The patent marks a significant advancement in the bond market, considered the most important innovation in 20 years.

Positive

• Patent awarded for RFX digital trading protocol, enhancing liquidity and efficiency.
• Technology processes over $10 trillion in trades per day, showcasing strong market presence.
• RFX protocol viewed as significant improvement in corporate bond trading in 20 years.

Negative

• None.

NEW YORK, March 3, 2021 /PRNewswire/ -- Empowering broker-dealers and institutional investors to better connect and trade corporate bonds digitally, Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader, today announced that the U.S. Patent and Trademark Office has granted LTX, a Broadridge company, U.S. Patent No.10922773. The patent covers its artificial intelligence (AI)-driven RFX digital trading protocol technology, which enables broker-dealers to maximize liquidity, efficiency and execution for their buy-side customers while minimizing information leakage.

"Broadridge has been investing in the development of this technology for several years to help our dealer clients and their buy-side customers generate more efficiencies in the front office," said Chris Perry, President of Broadridge. "This patent award recognizes Broadridge's commitment to delivering innovative solutions that leverage next-gen technologies to help clients do business smarter and more efficiently."

The patented RFX protocol empowers broker-dealers to unlock more value from their data and customer network. Using RFX, broker-dealers can intelligently identify and efficiently aggregate liquidity across multiple natural buyers bidding for their desired amount of bonds, which in turn helps them deliver improved best execution to their customers. 

The proprietary innovation pairs LTX's powerful AI and cloud technology with Broadridge's leadership in fixed income and equities post-trade processing, which processes over U.S. $10 trillion in notional volume per day across 40-plus dealer clients.

"Our patented RFX protocol is the most significant improvement for corporate bond trading in the last 20 years since RFQ," said Jim Toffey, Co-founder and CEO of LTX. "We are thrilled to be awarded this patent as an acknowledgement of our ground-breaking innovation that will take the bond market to the next level."

The patent also helps institutional investors understand pre-trade liquidity for selecting the right dealer with the strongest customer network of natural buyers and sellers to intermediate an RFX and increase the likelihood of trade execution.

About Broadridge

Broadridge Financial Solutions, Inc. (NYSE: BR), a $4.5 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 U.S. $10 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.

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

 

View original content:http://www.prnewswire.com/news-releases/broadridges-ltx-granted-patent-for-innovative-rfx-protocol-to-significantly-improve-corporate-bond-trading-301239375.html

SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is the significance of Broadridge's patent for the RFX protocol?

The patent allows Broadridge's LTX to enhance corporate bond trading by improving liquidity and execution efficiency, marking a significant technological advancement.

How does the RFX protocol impact broker-dealers?

The RFX protocol enables broker-dealers to efficiently aggregate liquidity from multiple buyers, thereby improving trade execution for their clients.

What volume of trades does Broadridge process daily?

Broadridge processes over $10 trillion in fixed income and equity securities trades daily.

When was the patent for the RFX protocol granted?

The U.S. Patent and Trademark Office granted the patent on March 3, 2021.

What role does AI play in the RFX digital trading protocol?

AI enhances the RFX protocol by intelligently identifying and aggregating liquidity, maximizing efficiency for broker-dealers.