Liquidnet, an execution specialist, has announced a partnership with artificial intelligence company Voltzbit to strengthen its bond primary market operations. The partnership aims to improve the processing of new bond trades.
Liquidnet says the integration of Boltzbit’s AI and machine learning technology has reduced the time it takes to process and display new bond announcements. The company estimates that the time between receiving unstructured trade data and the bond being ready for trading has been reduced by 90%.
Mark Russell, head of fixed income strategy at Liquidnet
Mark Russell, head of fixed income strategy at Liquidnet, said the new system will allow data to be queried through natural language queries. “Rather than relying on traditional management information reports, Boltzbit has delivered a solution that allows data to be queried through natural language queries underpinned by dynamic reports,” Russell said.
This isn’t Liquidnet’s first time employing AI in the fixed income market: late last year, the company announced a partnership with BondIT to power market analytics for Liquidnet’s 700-plus bond companies.
Liquidnet has reported an increase in new issue order book volumes since it began offering in the primary market in 2022. The firm also said the number of participating banks on its European syndication desk has grown to more than 35.
“We see GenAI as the next wave of technological innovation in financial services, with great potential to improve productivity and create new products and services,” said Dr. Yichuan Zhang, CEO and co-founder of Boltzbit, commenting on the potential impact of generative AI in financial services.
The partnership follows Liquidnet’s previous collaborations with NowCM and BondAuction as part of its efforts to modernize the primary market. The company said these partnerships were designed to improve efficiency and Connectivity For investors, banks and issuers.
Liquidnet Executive Appointments
In the past two weeks, Liquidnet has announced two significant personnel changes. Earlier this month, Tim Cunningham was appointed as the new Managing Director of Outsourced Foreign Exchange Trading and Sales. Cunningham, who was previously a director at Marex, shared the news of his new role on LinkedIn on Tuesday this week.
A week later, Jeffrey Crane was named Liquidnet’s international head for the Americas, an appointment that strengthens the firm’s capabilities in cross-border trading, including operations across 57 equity markets around the world.
Liquidnet, a unit of TP ICAP Group PLC, reported a 4% decline in revenue in the first quarter of 2024, according to its latest financial report. The division’s largest segment, its cash equities business, grew 7% in the first quarter of 2024 on the back of strong performance since the end of 2023.
Despite this growth, however, the Agency execution The segment was down from record revenue in March 2023, which was boosted by favorable market conditions that also benefited the global brokerage division.
Liquidnet, an execution specialist, has announced a partnership with artificial intelligence company Voltzbit to strengthen its bond primary market operations. The partnership aims to improve the processing of new bond trades.
Liquidnet says the integration of Boltzbit’s AI and machine learning technology has reduced the time it takes to process and display new bond announcements. The company estimates that the time between receiving unstructured trade data and the bond being ready for trading has been reduced by 90%.
Mark Russell, head of fixed income strategy at Liquidnet
Mark Russell, head of fixed income strategy at Liquidnet, said the new system will allow data to be queried through natural language queries. “Rather than relying on traditional management information reports, Boltzbit has delivered a solution that allows data to be queried through natural language queries underpinned by dynamic reports,” Russell said.
This isn’t Liquidnet’s first time employing AI in the fixed income market: late last year, the company announced a partnership with BondIT to power market analytics for Liquidnet’s 700-plus bond companies.
Liquidnet has reported an increase in new issue order book volumes since it began offering in the primary market in 2022. The firm also said the number of participating banks on its European syndication desk has grown to more than 35.
“We see GenAI as the next wave of technological innovation in financial services, with great potential to improve productivity and create new products and services,” said Dr. Yichuan Zhang, CEO and co-founder of Boltzbit, commenting on the potential impact of generative AI in financial services.
The partnership follows Liquidnet’s previous collaborations with NowCM and BondAuction as part of its efforts to modernize the primary market. The company said these partnerships were designed to improve efficiency and Connectivity For investors, banks and issuers.
Liquidnet Executive Appointments
In the past two weeks, Liquidnet has announced two significant personnel changes. Earlier this month, Tim Cunningham was appointed as the new Managing Director of Outsourced Foreign Exchange Trading and Sales. Cunningham, who was previously a director at Marex, shared the news of his new role on LinkedIn on Tuesday this week.
A week later, Jeffrey Crane was named Liquidnet’s international head for the Americas, an appointment that strengthens the firm’s capabilities in cross-border trading, including operations across 57 equity markets around the world.
Liquidnet, a unit of TP ICAP Group PLC, reported a 4% decline in revenue in the first quarter of 2024, according to its latest financial report. The division’s largest segment, its cash equities business, grew 7% in the first quarter of 2024 on the back of strong performance since the end of 2023.
Despite this growth, however, the Agency execution The segment was down from record revenue in March 2023, which was boosted by favorable market conditions that also benefited the global brokerage division.
