To further help develop corporate bond trading and advance market structure, Broadridge Financial Solutions has formed a new Buy-Side Advisory Group for LTX, Broadridge’s artificial intelligence (AI)-driven electronic trading platform. The Advisory Group will support evolution of LTX and contribute to the development of solutions designed to drive greater efficiency and liquidity in the bond market.
The Buy-Side Advisory Group is comprised of senior credit traders at LTX client firms including AllianceBernstein, American Century Investments, BlackRock, Invesco, MetLife Investment Management, PIMCO, and PineBridge Investments. Members will provide user-level insight and advice on the development and enhancement of the LTX platform including on product usability, development prioritisation, buy-side execution workflows, dealer expectations, and data handling.
“I’m thrilled to take part in the LTX Buy-Side Advisory Group,” said Tom McClintic, head of high yield and emerging markets trading at MetLife Investment Management. “Best execution is a priority, especially amidst the current liquidity conditions. LTX is innovating with data science and a new trading protocol, and I look forward to advising on the continued development of the platform.”
“The members of the Buy-Side Advisory Group bring invaluable experience, and their expert opinions on topics from daily workflows to credit market structure issues will be instrumental in informing our innovative solutions,” said Jim Toffey, CEO and co-founder of LTX. “We look forward to working with our new advisors to help their top dealers adopt our LTX technology, which empowers their dealers to service them better and help the buy-side trade smarter.”
LTX combines artificial intelligence with a next-generation protocol, RFX, to try and help improve liquidity, efficiency, and execution for buy- and sell-side corporate bond market participants. To date, the firm reports 24 dealers and over 50 asset managers have joined the LTX platform, with an additional 60 firms in the pipeline. The number of RFX sessions on the platform has steadily increased since January 2021, and the total amount of bonds offered on the platform is over US$4 billion.
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