Charles River Development integrates LTX, Broadridge’s AI driven digital trading platform

By Pavithra R

Charles River Investment Management Solution (Charles River IMS) has announced the integration of Broadridge Financial Solutions’ new artificial intelligence (AI)-driven digital trading platform, LTX as part its strategy to improve efficiency in the corporate bond market.

Created with Jim Toffey, founder of Tradeweb Markets, and Vijay Mayadas, President of Capital Markets, Broadridge, LTX platform is built on Broadridge’s US Fixed Income post-trade platform. It empowers dealers and institutional investors to better connect and trade corporate bonds through patent-pending artificial intelligence (AI) and provides next-generation protocols that enable dealers to more efficiently aggregate liquidity and trading opportunities across their vast customer network.

Through the integration of LTX, Charles River’s order and execution management system (OEMS) users can now 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.

“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. 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,” said Spiros Giannaros, CEO, Charles River Development.

The integration is expected to enable 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 AI. Dealers 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.

“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.