Broadridge’s LTX awarded four new patents for AI-powered bond trading

Rick Steves

“Our buy- and sell-side clients have identified areas for improvement in existing trading and investment workflows, and we have responded with innovative solutions. We’re thrilled that our inventions were awarded patents as our clients continue to partner with us on implementing AI into their workflows.”

LTX, a subsidiary of Broadridge Financial Solutions, Inc., has been awarded four new patents covering bond similarity technology, dealer selection score technology, liquidity aggregation technology, and RFQ+ trading protocol.

The patented technologies enhance various trade workflows, enabling better bond and counterparty selection and e-trading for larger orders.

These innovations aim to improve pre-trade decision-making and trade execution efficiency. This could lead to potential price improvements due to multiple responding parties.

LTX leveraging AI for pre-trade data, liquidity discovery, trade execution

Jim Kwiatkowski, CEO of LTX, said: “Our buy- and sell-side clients have identified areas for improvement in existing trading and investment workflows, and we have responded with innovative solutions. We’re thrilled that our inventions were awarded patents as our clients continue to partner with us on implementing AI into their workflows.”

The bond market, despite two decades of advancements, lags in innovation and electronification compared to other asset classes. LTX, created by Broadridge, addresses challenges in the corporate bond market such as accessing pre-trade data, discovering liquidity, and executing trades efficiently. LTX’s AI-driven workflows cover the entire corporate bond trading lifecycle, enhancing efficiency in various aspects of bond trading.

LTX launched BondGPT and BondGPT+

Beyond these patented technologies, LTX recently introduced BondGPT and its enterprise version, BondGPT+. These patent-pending generative AI applications assist in identifying corporate bonds and quickly answering complex bond-related queries.

One of the standout features of BondGPT+ is its ability to securely integrate enterprise data and third-party datasets, offering financial professionals a streamlined approach to accessing critical information. The application is designed to fit seamlessly into clients’ existing workflows, including trading systems, through a robust API suite.

Moreover, BondGPT+ goes beyond a one-size-fits-all approach by offering a high degree of user-level customization. Users can tailor their experience by setting preferences, such as focusing only on high-yield bonds above a certain credit rating. This customization extends to the BondGPT+ dashboard, where questions of critical importance can be saved as “favorites” and scheduled to run at specific times or when key data changes.

In an era where data breaches and misinformation can have dire consequences, BondGPT+ emphasizes security and accuracy. The application builds upon the secure and accurate design of its predecessor, BondGPT, which was purpose-built for institutional fixed income users. BondGPT+ leverages verified, curated data sources and includes explainable AI features that allow for greater transparency in how it generates responses.

The application also focuses on control and governance, with features designed for system administrators and compliance officers. The Admin Center allows for the configuration of data access at both the user and firm levels, and the AI-powered compliance layer allows for the addition of custom rules, giving companies a significant edge in risk management.

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