NEW
YORK, July 12, 2023 /PRNewswire/ -- LTX, a
subsidiary of global Fintech leader Broadridge Financial Solutions,
Inc. (NYSE:BR), has completed the next phase of a multi-year
partnership with Aladdin, BlackRock's (NYSE: BLK) end-to-end
investment management and operations platform used by institutional
investors, to enhance corporate bond trading workflows and
further expand its network through a platform integration. The
integration, which incorporates LTX's Liquidity Cloud®
and actionable pre-trade Cloud Match Scores directly in the
Aladdin® platform, enables Aladdin technology users to leverage
data-driven capabilities to improve liquidity discovery and trading
efficiency.
The Liquidity Cloud® is LTX's network of anonymous
real-time buy- and sell-side indications of interest. Proprietary
analysis in the Liquidity Cloud identifies Cloud Matches, real-time
indications of natural contra interest in the Liquidity Cloud, the
strength of which are measured by Cloud Match Scores. Cloud Match
Scores update dynamically to reflect real-time available natural
liquidity.
"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," said
Jim Kwiatkowski, CEO of LTX. "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."
"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," said Kamya Somasundaram,
Managing Director, and a General Manager within Aladdin at
BlackRock.
As part of the strategic partnership between BlackRock Aladdin
and LTX, 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.
To date, more than 30 dealers and more than 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.
About LTX
LTX is an electronic trading platform that enables corporate
bond market participants to trade smarter, combining powerful,
patented artificial intelligence with innovative e-trading
protocols to improve liquidity, efficiency, and execution.
LTX is a division of Broadridge Business Process Outsourcing
LLC, the broker-dealer subsidiary of Broadridge Financial
Solutions.
For more information, visit www.ltxtrading.com.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), a global Fintech
leader with more than $5 billion in
revenues, provides the critical infrastructure that powers
investing, corporate governance and communications to enable better
financial lives. We deliver technology-driven solutions that drive
business transformation for banks, broker-dealers, asset and wealth
managers and public companies. Broadridge's infrastructure serves
as a global communications hub enabling corporate governance by
linking thousands of public companies and mutual funds to tens of
millions of individual and institutional investors around the
world. Our technology and operations platforms underpin the daily
trading of more than U.S. $9 trillion
of equities, fixed income, and other securities globally. A
certified Great Place to Work®, Broadridge is part of the S&P
500® Index, employing over 14,000 associates in 21 countries.
For more information about us and what we can do for you, please
visit www.broadridge.com
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
broadridgeir@broadridge.com
Media:
Tina Wadhwa
Corporate Communications
Tina.Wadhwa@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.