RBC Capital Markets launches Aiden, an AI-powered electronic trading platform

By Pavithra R

RBC Capital Markets has announced the launch of Aiden, an AI based electronic trading platform that uses the computational power of deep reinforcement learning to improve trading results and insights for clients.

The platform was developed by RBC Capital Markets in collaboration with Borealis AI, an AI research center created by RBC. Both organizations had to undertake various challenges in the field of AI, including the application of deep reinforcement learning into a continually changing environment like equities trading, with measurable and explainable results for its users.

Aiden navigates through the challenges of fluid and dynamic market conditions in real-time, without the need for continuous re-coding like traditional trading algorithms. Leveraging pre-programmed data inputs and its ability to make more than 32 mn calculations per order, the platform is enabled with the capability to execute trading decisions based on live market data, dynamically adjust to new information and learn from each of its previous actions.

“Aiden speaks to our long-term commitment to leverage next-generation AI technology to create differentiated solutions for our clients. Aiden is the result of a massive collaborative effort between RBC employees, including traders and AI scientists, and our partners at Borealis AI. Aiden is at the beginning of its journey, and we see great potential to further expand its capabilities and redefine execution, while remaining true to its client-centric foundation,” said Bobby Grubert, Co-Head of Global Equities‎, RBC Capital Markets.

Volume-weighted average price (VWAP) algorithm, the first live Aiden solution was designed to help improve clients’ trading performance by reducing slippage. The Aiden platform is available to RBC Capital Markets clients who are trading in U.S. and Canadian equities, and the bank has plans to introduce the platform to additional clients across its geographical markets in the coming months.

“After several years of comprehensive research, testing and fine-tuning, we are proud to bring a new standard of execution excellence to clients. Together, we are continuing our exploration of deep reinforcement learning, while advancing the development of responsible AI for our clients,” said Dr Foteini Agrafioti, Chief Science Officer at RBC and Head of Borealis AI.

“The market volatility we have seen during COVID-19 has been a great proving ground for Aiden. Aiden was able to recognize the sudden changes in the market and adapt to them, allowing it to preserve performance. The Aiden platform is part of our vision to be one of the best in the world at unlocking the potential of Artificial Intelligence and delivering those insights to our clients in an explainable way,” said Shary Mudassir, Co-Head of Global Equities Execution, RBC Capital Markets.

RBC Capital Markets is the leading provider of financial services, Royal Bank of Canada (RBC). RBC is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Recently RBC launched digital deposit account open processes for personal & business clients.