Liquidnet, a technology-driven agency execution specialist, today announced its partnership with Gen-AI startup Boltzbit to optimize its workflow in the primary Fixed Income markets.
Leveraging Boltzbit’s unique Machine Learning Artificial Intelligence (AI) solutions and custom workflow model, Liquidnet is now able to receive, process and display newly announced bond deals at a rate that significantly exceeds previous analytics technology. As a result, the bonds are more easily available through Liquidnet’s deal announcement dashboard and then on the new issue order book.
The implementation of this customized AI model provides Liquidnet Members and partner syndicated banks with the distinct advantage of faster access to transactions and information distribution. Liquidnet estimates that the enhancement improves the time from receipt of unstructured transaction data to bond readiness by 90%.
Mark Russell, Head of Fixed Income Strategy at Liquidnet, said:
“We have always been big supporters of interoperability and integrated solutions to achieve real efficiency in the primary bond markets. Our partnership with Boltzbit is a reflection of this strategy. Instead of relying on traditional Management Intelligence reports, Boltzbit delivered a solution that allows us to interrogate the data through natural language queries, supported by dynamic reports.”
Dr. Yichuan Zhang, CEO and co-founder of Boltzbit, added:
“Primary bond 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 are leading 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 companies that are ahead of this trend will reap the rewards.”
Since the launch of its primary markets offering, Liquidnet has achieved record trading volume in its new issue order book and increased European syndicate participation in over 35 banks. These milestones underscore the company’s ambition to modernize primary markets and deliver value to its customers and the industry as a whole.
In addition to Boltzbit, Liquidnet previously announced partnerships with NowCM and BondAuction, demonstrating its commitment to collaboration and interoperability to further deliver efficiency and connectivity for investors, banks and issuers.