LTX, a division of Broadridge Financial Solutions Inc. (NYSE:BR), has launched BondGPT. This application uses OpenAI GPT-4 technology to provide answers to bond-related queries and help users locate corporate bonds in the LTX system.
This application makes it easier for:
- Asset managers.
- Hedge funds.
- Dealers to choose bonds and create portfolios by displaying live information from the LTX Liquidity Cloud. It saves them time and effort, making their workflows more efficient.
CEO of LTX, Jim Kwiatkowski, said:
Emerging technologies such as generative AI hold immense potential to drive electronification and transparency in the corporate bond market. By increasing the use of data and applications like BondGPT, market participants can inform and expedite vital pricing decisions, facilitate counterparty selection, and broaden liquidity access. We are proud to accelerate the use of these innovations as we work towards smarter and more efficient trading processes for the industry.
BondGPT provides a powerful language model (LLM) chat option that enables traders to:
Ask inquiries and uncover corporate bonds on the LTX trading platform based on their desired criteria. Through BondGPT, traders can take advantage of the Liquidity Cloud and patent-pending bond similarity technology offered by LTX. This technology filters through a range of adjustable user settings to promptly identify bonds that have the desired characteristics and meet current liquidity requirements.
BondGPT combines GPT-4 technology with LTX’s analysis and vast amounts of secure data to ensure that the information used in the highly regulated financial sector is accurate, timely, and compliant. It has special features to reduce ‘hallucination’ issues, which are common in other systems.
Chief Product Officer and Co-Head of AI, Broadridge, Martin Koopman, said:
BondGPT powered by OpenAI GPT-4 is available to all Broadridge LTX clients today. It adds generative AI to build on the AI neural network that LTX has used since launch. BondGPT is the first of many products and services Broadridge will release to our clients using this powerful technology in a safe manner, leveraging our deep regulatory knowledge and data privacy standards.
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