NEW
YORK, Oct. 22, 2024 /PRNewswire/ -- LTX, an
AI-powered corporate bond trading platform backed by global Fintech
leader, Broadridge Financial Solutions, Inc. (NYSE: BR), today
announced that TD Bank has joined its e-trading platform through
its subsidiary TD Securities Automated Trading LLC. TD Bank will
contribute axes, or pre-trade indications of interest, to LTX's
Liquidity Cloud and utilize LTX's RFQ+ protocol to provide
Investment Grade and High Yield bond liquidity to its institutional
clients.
"LTX's value proposition demonstrates the company's commitment
to providing innovative solutions to corporate bond market
structure challenges and more efficient execution for the buy
side," said Marty Mannion, Managing
Director and Co-Head, TDS Automated Trading at TD Bank. "We are
excited to be joining LTX to deepen connectivity with our
clients."
"We're thrilled that TD Bank has joined LTX, making our platform
even more valuable to our growing network of buy-side clients,"
said Jim Kwiatkowski, CEO of LTX.
Our mission is to lower costs of trading corporate bonds to deliver
best execution to clients, and we're pleased that our value
proposition resonates with the dealer community."
LTX was formed to address corporate bond market challenges that
have arisen due to lack of innovation and electronification,
including the disruption of relationship-based e-trading, high
trading and data costs, as well as limited e-trading options for
large trades. LTX is uniquely positioned to address these industry
pain points by using patented AI and execution protocols to improve
liquidity and efficiency, facilitating connections between dealers
and buy-side clients and enabling direct, fully disclosed
trading.
Recent innovations from LTX include the generative AI
application BondGPT and enterprise version
BondGPT+, which assists users in identifying corporate bonds
and answers complex bond-related queries in seconds, as well as
RFQ+, an enhanced RFQ protocol that combines patented dealer
selection score technology with patented liquidity aggregation
technology to facilitate larger trades.
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. The Liquidity Cloud is the LTX network of anonymous
real-time buy- and sell-side indications of interest which include
CUSIP, direction, price, and size. LTX is a division of Broadridge
Business Process Outsourcing LLC, the broker-dealer subsidiary of
Broadridge Financial Solutions.
For more information about LTX, please visit
www.ltxtrading.com.
About Broadridge
Broadridge Financial Solutions (NYSE:
BR), is a global technology leader with the trusted expertise and
transformative technology to help clients and the financial
services industry operate, innovate, and grow. We power investing,
governance, and communications for our clients – driving
operational resiliency, elevating business performance, and
transforming investor experiences.
Our technology and operations platforms process and generate
over 7 billion communications per year and underpin the daily
trading of more than $10 trillion of
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, please visit
www.broadridge.com.
Broadridge Contacts:
Investors:
Edings
Thibault
Head of Investor Relations,
Broadridge
broadridgeir@broadridge.com
Media:
Gregg Rosenberg
Corporate
Communications
Gregg.rosenberg@broadridge.com
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SOURCE Broadridge Financial Solutions, Inc.