Liquidnet has partnered with Gen-AI startup Boltzbit to enhance its fixed income primary markets workflow using a custom AI model, allowing the firm to more quickly receive, process and display newly announced bond deals.
Using Boltzbit’s AI and machine learning solutions reduces the time it takes for bonds to be made available through Liquidnet’s deal announcement dashboard and to be shown in its new issue orderbook, the company stated, estimating a 90% improvement in the time it takes to go from unstructured deal data to bonds being ready.
Members and partner syndicate banks benefiting from faster access to trading and information distribution, it added.
Mark Russell, head of fixed income strategy at Liquidnet, commented: “We’ve always been big proponents of interoperability and integrated solutions to bring true efficiency to bond primary markets. 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.”
Yichuan Zhang, CEO and co-founder of 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.”
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