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NEW YORK, N.Y. – March 10, 2022 - LTX, Broadridge Financial Solutions, Inc.’s artificial intelligence (AI)-driven digital trading platform, has completed a successful integration with the Charles River Investment Management Solution (Charles River IMS). The complete integration enables Charles River’s order and execution management system (OEMS) users to better access aggregated liquidity and leverage transparency and price discovery within their existing workflows through their existing relationships with their dealers.
“Trading efficiently in corporate credit markets presents a number of unique challenges for investment firms,” said Vidya Guruju, CFA, Senior Product Manager at Charles River. “The partnership with LTX empowers our buy-side clients with improved price discovery, a new source of differentiated liquidity and the ability to manage their entire trade lifecycle on one platform.”
Building on Broadridge’s market-leading fixed income processing platform, the LTX e-trading platform uses data science and its own patented trading protocol, RFX®, to provide the buy-side and sell-side with a more complete view into pre-trade and post-trade liquidity, ultimately helping market participants facilitate natural liquidity discovery and find best execution.
“The completed integration seamlessly incorporates LTX into the trading workflows of Charles River users to more effectively source liquidity and achieve best execution,” said Jim Toffey, CEO and Co-founder of LTX. “Together with Charles River’s capabilities and long-standing reputation in the industry, and LTX’s next-generation execution protocol, we will help institutional investors trade smarter.”
To date, two dozen dealers and more than 50 asset managers have joined the LTX platform, representing a significant liquidity pool. The number of RFX sessions on the platform has steadily increased since January 1, 2021, and the total amount of bonds offered on the platform is nearly $3bn.
About Charles River®, A State Street Company
Investment, wealth and alternative managers, asset owners and insurers in 30 countries rely on Charles River IMS to manage USD $36 Trillion in assets. Together with State Street’s middle and back office services, Charles River’s cloud-deployed front office technology forms the foundation of State Street Alpha℠. Charles River helps automate and simplify the investment process across asset classes, from portfolio management and risk analytics through trading and post-trade settlement, with integrated compliance and managed data throughout. Charles River’s partner ecosystem enables clients to access the data, analytics, application and liquidity providers that support their product and asset class mix. We serve clients globally with more than 1,000 employees in 11 regional offices. (Statistics as of Q4 2021)
Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers, and public companies. Broadridge’s infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than U.S. $9 trillion of equities, fixed income and other 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.
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