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 AISM.
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.