Through its affiliate, TD Securities Automated Trading LLC, TD Bank has joined LTX, an AI-powered corporate bond trading platform supported by global fintech leader Broadridge Financial Solutions.
To give its investors access to Investment Grade and High Yield bond liquidity, TD Bank will use LTX’s RFQ+ protocol and submit axes, or pre-trade indications of interest, to LTX’s Liquidity Cloud.
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LTX was founded to tackle corporate bond market difficulties resulting from a lack of creativity and electronification, such as the disruption of relationship-based e-trading, high trading and data costs, and restricted e-trading possibilities for large trades.
It is poised to address these industry obstacles by leveraging patented artificial intelligence and execution protocols to improve liquidity and efficiency, facilitate linkages between dealers and buy-side clients, and enable direct, fully transparent trading.
In addition to this, LTX’s latest advances include the productive AI application BondGPT and its enterprise version BondGPT+, which help consumers identify corporate bonds and address complex bond-related queries in seconds. As well as RFQ+, an enhanced RFQ protocol that integrates registered dealer selection score technology with patented liquidity aggregation technology to facilitate larger trades.
Marty Mannion, managing director and co-head, TDS Automated Trading at TD Bank stated: “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. We are excited to be joining LTX to deepen connectivity with our clients.”
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By GlobalDataJim Kwiatkowski, CEO of LTX added: “We’re thrilled that TD Bank has joined LTX, making our platform even more valuable to our growing network of buy-side clients. 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.”
