back Back

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

By Pavithra R

October 16, 2020

  • Aiden
  • Canada
  • Rbc Capital Markets
Share

Bobby Grubert, Co-Head of Global Equities‎, RBC Capital Markets

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.

Previous Article

October 16, 2020

Standard Chartered and Experian drive financial inclusion

Read More
Next Article

October 16, 2020

Singapore’s Zilliqa unveils non-custodial staking on its mainnet

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

Aiden

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

Niyogin acquires ‘Superscan’ from Orbo.ai to propel AI-led neo-banking

Read More

May 17, 2024

M&T Bank taps nCino & Rich Data Co. to manage credit risk and loan performance

Read More

May 16, 2024

Salt Bank taps Napier AI for Transaction Monitoring in Romania

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023