Liquidnet implements Gen-AI to accelerate capture and trading of new bond deals
16 July 2024 - 9:00AM
Business Wire
Liquidnet collaborates with tech company Boltzbit to enhance
its Fixed Income primary markets workflow.
Liquidnet, a leading technology-driven agency execution
specialist, today announced its partnership with cutting-edge,
Gen-AI startup Boltzbit to optimize its Fixed Income primary
markets workflow.
Leveraging Boltzbit’s unique Artificial Intelligence (AI)
Machine Learning solutions and its bespoke workflow model,
Liquidnet is now able to receive, process, and display newly
announced bond deals at a rate which significantly surpasses its
prior parsing technology. As a result, bonds are more readily
available through Liquidnet’s deal announcement dashboard and
subsequently into its new issue orderbook.
The application of this custom AI model provides Liquidnet’s
Members and partner syndicate banks with the distinct advantage of
faster access to trading and information distribution. Liquidnet
estimates the enhancement improves the time from when they receive
unstructured deal data to the bonds being ready by 90%.
Mark Russell, Head of Fixed Income Strategy at Liquidnet,
said: “We’ve always been big proponents of interoperability and
integrated solutions to bring true efficiency to bond primary
markets. Our partnership with Boltzbit is a reflection of that
strategy. Rather than rely on traditional Management Information
reports, Boltzbit delivered a solution which allows us to
interrogate the data via natural language queries, supported by
dynamic reports.”
Dr Yichuan Zhang, CEO and co-founder at Boltzbit, added:
“Bond primary markets remain an area that can benefit from new or
improved technology solutions and we are excited to partner with
both Liquidnet and TP ICAP who have been at the forefront of this
effort. We see GenAI as the next wave of technological innovation
for financial services, with significant potential for productivity
gains and the creation of new products and services. We believe
firms who get ahead of this trend will reap the rewards.”
Since launching its primary markets offering in 2022, Liquidnet
has achieved record trading volumes in its new issue orderbook and
increased European syndicate desk participation to over 35 banks.
These milestones underscore the firm’s ambition to modernize
primary markets and deliver value to its clients and the industry
as a whole. In addition to Boltzbit, Liquidnet previously announced
partnerships with NowCM and BondAuction, demonstrating its
commitment to collaboration and interoperability to further provide
efficiencies and connectivity for investors, banks, and
issuers.
About Liquidnet
Liquidnet is a leading technology-driven, agency execution
specialist that intelligently connects the world’s investors to the
world’s investments. Since our founding in 1999, our network has
grown to include more than 1,000 institutional investors and spans
57 markets across six continents. We built Liquidnet to make global
capital markets more efficient and continue to do so by adding
additional participants, enabling trusted access to trading and
investment opportunities, and delivering the actionable
intelligence and insight that our customers need. For more
information, visit www.liquidnet.com and follow us on X
@Liquidnet.
About TP ICAP Group plc
TP ICAP is a world-leading markets infrastructure and data
solutions provider. The Group connects buyers and sellers in
wholesale financial, energy and commodities markets. We are the
world's largest wholesale market intermediary, with a portfolio of
businesses that provide broking services, trade execution, data
& analytics, and market intelligence. www.tpicap.com
About Boltzbit
Boltzbit is a leading technology company applying generative AI
to the financial services industry. The company makes use of
cutting-edge proprietary research that allows it to build efficient
and secure models that are customised to applications across
finance. Their novel technology is deployed via their software
product, simplifying model development and maintenance, and
enabling seamless integrations to enterprise applications.
© 2024 Liquidnet Holdings, Inc. and its subsidiaries. Liquidnet,
Inc. is a member of FINRA/SIPC/NFA. Liquidnet Europe Limited is
authorised and regulated by the Financial Conduct Authority in the
UK, is licensed by the Financial Sector Conduct Authority in South
Africa and is a member of the London Stock Exchange and a remote
member of the SIX Swiss Exchange. TP ICAP (EUROPE) SA is authorised
by the Autorité de Contrôle Prudentiel et de Résolution and
regulated by the Autorité des Marchés Financiers and is a remote
member of the Warsaw Stock Exchange. Liquidnet Canada Inc. is a
member of the Canadian Investment Industry Regulatory Organization
and a member of the Canadian Investor Protection Fund. Liquidnet
Asia Limited is regulated by the Hong Kong Securities and Futures
Commission for Type 1 and Type 7 regulated activities and is
regulated by the Monetary Authority of Singapore as a Recognized
Market Operator. Liquidnet Japan Inc. is regulated by the Financial
Services Agency of Japan and is a member of JSDA/JIPF. Liquidnet
Australia Pty Ltd. is registered with the Australian Securities and
Investment Commission as an Australian Financial Services Licensee,
AFSL number 312525. Liquidnet Singapore Private Limited is
regulated by the Monetary Authority of Singapore as a Capital
Markets Services Licensee, CMSL number CMS 100757-1. Liquidnet
Holdings, Inc. and its subsidiaries are part of TP ICAP Group
plc.
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Sophonie Robichon, Liquidnet Global Marketing +
Communications +44 20 3933 0153 srobichon@liquidnet.com