TD Bank has joined AI-powered corporate bond trading platform LTX’s e-trading platform, via its subsidiary TD Securities Automated Trading.
TD Bank will contribute axes, or pre-trade indications of interest, to LTX’s Liquidity Cloud and utilise LTX’s RFQ+ protocol, an enhanced RFQ protocol that combines patented dealer selection score technology with patented liquidity aggregation technology to facilitate larger trades, to provide investment grade and high yield bond liquidity to its institutional clients.
Jim Kwiatkowski, CEO of LTX, said, “Our mission is to lower costs of trading corporate bonds to deliver best execution to clients, and we’re pleased that our value proposition resonates with the dealer community.”
Marty Mannion, managing director and co-head, TDS Automated Trading, said, “LTX’s value proposition demonstrates the company’s commitment to providing innovative solutions to corporate bond market structure challenges and more efficient execution for the buy side.”
LTX deploys patented AI and execution protocols, which it claims improve liquidity and efficiency, and facilitate connections between dealers and buy-side clients to enable direct, fully disclosed trading.
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