LTX, a subsidiary of Broadridge, has extended its partnership with BlackRock to utilise its end-to-end investment management and operations platform, Aladdin.
BlackRock’s Aladdin platform is used by institutional investors, to enhance corporate bond trading workflows. The Liquidity Cloud is LTX’s network of anonymous real-time buy- and sell-side indications of interest.
As part of the renewed partnership, both BlackRock and LTX clients will be able to cloud match scores directly within Aladdin’s order execution management system, while directly interacting with trading opportunities in LTX’s Liquidity Cloud, without a staging area.
Aladdin users can contribute their anonymous interests to the Liquidity Cloud and, in turn, identify natural contra liquidity.
The first phase of the partnership, announced in early 2022, enabled common clients to stage orders on the LTX platform through a standard FIX integration.
To date, more than 30 dealers and more than 80 asset managers have joined the LTX platform, representing the potential for a significant liquidity pool, says LTX.
Commenting on the renewed partnership, Jim Kwiatkowski, CEO of LTX, says: “Some of the world’s largest institutional investors use Aladdin for their end-to-end trading workflows, and we are pleased that this integration enables common clients of LTX and Aladdin to seamlessly access trading functionalities of both platforms.
“We are committed to facilitating positive transformation in the corporate bond market with data-driven pre-trade intelligence and liquidity aggregation; this integration offers these advancements within existing buy-side workflows.”
Kamya Somasundaram, managing director, and a general manager within Aladdin at BlackRock, comments: “We look forward to empowering our users with innovative pre-trade liquidity discovery capabilities and trading solutions like LTX for more seamless and efficient corporate bond trading workflows.”
