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.
