LTX, a subsidiary of fintech Broadridge Financial Solutions, has completed the next phase of a multi-year partnership with Aladdin, BlackRock’s institutional investment management and operations platform, to enhance corporate bond trading workflows.
The integration, which incorporates LTX’s Liquidity Cloud and actionable pre-trade Cloud Match Scores directly in the Aladdin platform, enables Aladdin technology users to leverage data-driven capabilities to improve liquidity discovery and trading efficiency.
The Liquidity Cloud is LTX’s network of anonymous real-time buy- and sell-side indications of interest. Proprietary analysis in the Liquidity Cloud identifies Cloud Matches, real-time indications of natural contra interest in the Liquidity Cloud, the strength of which are measured by Cloud Match Scores. Cloud Match Scores update dynamically to reflect real-time available natural liquidity.
As part of the strategic partnership between Blackrock Aladdin and LTX, this latest phase of integration enables common clients to view Cloud Match Scores directly within the Aladdin application OEMS and directly interact with trading opportunities in the Liquidity Cloud without a staging area. Aladdin users can seamlessly contribute their anonymous interests to the Liquidity Cloud and, in turn, identify natural contra liquidity. The first phase, released in early 2022, enabled common clients to stage orders on the LTX platform through a standard FIX integration.