Global fintech Broadridge Financial Solutions has launched a new AI-powered algorithm insights service for NYFIX which employs real-time liquidity mapping to help hedge funds, and other buy-side firms improve accuracy, workflow integration, and cost-efficiency.
“Algo traders will now have a quantitative, data-driven service to power critical trading decisions” said George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions in a press statement. “By harnessing the power of AI and historical insights, we’re giving our clients the tools they need to navigate complex markets with greater precision and confidence. This innovative solution not only optimizes trading strategies, but also reduces costs, making it an invaluable asset for the buy-side.”
According to Braodridge, this is the first and only solution of its kind, using advanced AI to leverage public and private data to understand the liquidity landscape, particularly potential dark fill locations. The service identifies the ideal algorithmic execution for any given order, reducing outliers to improve overall trading costs. Traders benefit from real-time alerts and in-trade analysis, allowing for in-flight adjustments to stay aligned with their objectives, ensuring optimal strategy selection throughout the trading process.
The NYFIX service was developed based on decades of proven research from Jeff Alexander and Linda Giordano, whose pioneering work at Babelfish Analytics established the standard for understanding routing dynamics, analysing venue liquidity, and optimising algorithm selection.
Available to NYFIX Order Routing customers in the US equities market, the solution’s framework is built to expand rapidly across other asset classes and regions, with future plans to extend access to clients on other Order Routing Networks.
