Broadridge’s LTX brings pre-trade liquidity discovery in fixed income to BlackRock’s Aladdin
“”We are committed to facilitating positive transformation in the corporate bond market with data-driven pre-trade intelligence and liquidity aggregation; this integration offers these advancements within existing buy-side workflows.”
Broadridge’s fixed income platform LTX has completed the next phase of a multi-year partnership with Aladdin, BlackRock’s end-to-end investment management and operations platform used by institutional investors.
Aiming at enhancing corporate bond trading workflows and further expanding its network, the platform integration incorporates LTX’s Liquidity Cloud and actionable pre-trade Cloud Match Scores directly in the Aladdin platform.
LTX’s liquidity pool made out of 30+ dealers and 80+ asset managers
LTX enables Broadridge’s Aladdin technology users to leverage data-driven capabilities to improve liquidity discovery and trading efficiency via Liquidity Cloud, LTX’s network of anonymous real-time buy- and sell-side indications of interest whose proprietary analysis identifies Cloud Matches, real-time indications of natural contra interest in the Liquidity Cloud, the strength of which are measured by Cloud Match Scores, which are dynamically updated to reflect real-time available natural liquidity.
This latest phase of integration enables common clients to view Cloud Match Scores directly within the Aladdin application OEMS and directly interact with trading opportunities in the Liquidity Cloud without a staging area.
Aladdin users can seamlessly contribute their anonymous interests to the Liquidity Cloud and, in turn, identify natural contra liquidity. The first phase, released in early 2022, enabled common clients to stage orders on the LTX platform through a standard FIX integration.
More than 30 dealers and over 80 asset managers have joined the LTX platform, representing the potential for a significant liquidity pool. LTX has attracted many of the world’s leading asset managers and dealers, with over $7 billon in initiated firm orders and an average daily volume of over $27 billion in the Liquidity Cloud in June 2023.
LTX brings data-driven pre-trade intelligence and liquidity aggregation to bond market
Jim Kwiatkowski, CEO of LTX, said: “Some of the world’s largest institutional investors use Aladdin for their end-to-end trading workflows, and we are pleased that this integration enables common clients of LTX and Aladdin to seamlessly access trading functionalities of both platforms.
“We are committed to facilitating positive transformation in the corporate bond market with data-driven pre-trade intelligence and liquidity aggregation; this integration offers these advancements within existing buy-side workflows.”
Kamya Somasundaram, Managing Director, and a General Manager within Aladdin at BlackRock, commented: “We look forward to empowering our users with innovative pre-trade liquidity discovery capabilities and trading solutions like LTX for more seamless and efficient corporate bond trading workflows.”
