Goldman Sachs, JP Morgan, TD Securities, Morgan Stanley and Bank of America have joined AI-backed corporate bond e-trading venue, LTX as fully integrated liquidity providers.
Patrick Whelan
The integration is expected to broaden access to greater liquidity in corporate bonds, as well as enhance choice and liquidity in fixed income markets for buy-side clients.
The firms’ addition to the platform sees them joining multiple participants already on LTX, spanning in excess 40 liquidity providers and more than100 buy-side investors which provide investment grade and high yield bond liquidity for the solution.
Patrick Whelan, global head of FICC digital markets at JP Morgan, said, “In a competitive market, we’re committed to supporting new entrants and fostering greater competition in the US credit multi-dealer platform landscape.
“Our collaboration with LTX leverages innovative technology to broaden investor access, enhance liquidity, and streamline execution – empowering clients with more choice and driving industry advancement.”
Specifically, LTX is supported by Broadridge, and aims to tackle corporate bond market challenges by facilitating key dealer-client relationships, lower trading and data costs and enhance e-trading options for large sized traders.
Read more – Broadridge launches unified risk and liquidity optimisation platform
As part of the integration, JP Morgan and TD Securities will also each appoint a representative to join LTX’s board of directors.
“We are excited to welcome these five leading dealers as fully integrated liquidity providers and look forward to working with them to drive increased liquidity and execution in the fixed income marketplace,” said Chris Perry, president of Broadridge.
“Broadridge’s commitment to helping our clients innovate and grow through cost effective technology solutions is further reinforced by the inclusion of these premier institutions.”