LTX, a subsidiary of global financial technology company Broadridge Financial Solutions, has finished the next step of a long-term collaboration with Aladdin, an investment management platform utilized by institutional investors, to improve the process of trading corporate bonds and grow its network by integrating with the platform.
The integration combines LTX’s Liquidity Cloud and pre-trade Cloud Match Scores into the Aladdin platform. This allows users of the Aladdin technology to use data-driven features to better find liquidity and improve trading efficiency.
The Liquidity Cloud is a system created by LTX that connects buyers and sellers anonymously in real-time. It uses special analysis to find potential matches between buyers and sellers, which are called Cloud Matches. The strength of these matches is measured using Cloud Match Scores. These scores are constantly updated to show the availability of real-time potential buyers and sellers.
CEO of LTX, Jim Kwiatkowski, said:
Some of the world’s largest institutional investors use Aladdin for their end-to-end trading workflows, and we are pleased that this integration enables common clients of LTX and Aladdin to seamlessly access trading functionalities of both platforms. We are committed to facilitating positive transformation in the corporate bond market with data-driven pre-trade intelligence and liquidity aggregation; this integration offers these advancements within existing buy-side workflows.
Managing Director, and a General Manager within Aladdin at BlackRock, Kamya Somasundaram, said:
We look forward to empowering our users with innovative pre-trade liquidity discovery capabilities and trading solutions like LTX for more seamless and efficient corporate bond trading workflows.
As part of the collaboration between BlackRock Aladdin and LTX, a new development allows clients to see Cloud Match Scores in the Aladdin application OEMS. They can also directly engage with trading opportunities in the Liquidity Cloud without needing a separate platform.
Aladdin users can easily share their anonymous interests on the Liquidity Cloud and find potential trading partners. The initial phase, launched in 2022, allowed clients to place orders on the LTX platform through a standard FIX integration.
Read more: Finalto to provide liquidity through Your Bourse | Brokers Times
