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
AISM) 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.