Broadridge has developed an artificial intelligence (AI) engine that can work with the company’s post-trade processing platform for U.S. fixed income to create an electronic market.

Working with Jim Toffey, founder of Tradeweb Markets and CEO of LiquidX, Broadridge’s LTX moves beyond the usual 1:1 sales process and creates an electronic

market that aggregates liquidity by engaging multiple participants simultaneously.

Although the U.S. corporate bond market has grown to $10 trillion, only about 25% is traded electronically, according to Broadridge, which says it has about two-thirds of the secondary market.

“Broadridge sits in the middle of a whole bunch of fixed income trade flows,” said Vijay Mayadas, president, global fixed income and analytics at Broadridge. “We capture a unique set of data which

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