Fintech company Broadridge Financial Solutions has introduced an artificial intelligence (AI)-driven algorithm insights service for NYFIX, aimed at transforming algorithmic trading.
NYFIX is a fully managed, broker-independent, and vendor-agnostic financial information exchange (FIX) order routing network. that seamlessly connects buy-side firms, sell-side firms, and trading venues across all asset classes.
The new service leverages real-time liquidity mapping to enhance accuracy, integrate workflows seamlessly, and deliver cost efficiencies for asset managers, hedge funds, and other buy-side firms.
Broadridge’s new offering combines advanced AI with public and private data to map liquidity landscapes, including identifying potential dark fill locations. This approach determines the optimal algorithmic execution for orders, minimising outliers and reducing overall trading costs.
The system provides real-time alerts and in-trade analysis, enabling traders to make in-flight adjustments and maintain alignment with trading objectives.
The NYFIX service builds on years of research by Jeff Alexander and Linda Giordano, whose foundational work at Babelfish Analytics set the benchmark for routing dynamics, venue liquidity analysis, and algorithm selection, said Broadridge.
By integrating their proprietary trader-focused insights with Broadridge’s advanced technology and extensive distribution network, the collaboration delivers a powerful tool for traders aiming to enhance performance.
Broadridge trading and connectivity solutions NYFIX head George Rosenberger said: “Algo traders will now have a quantitative, data-driven service to power critical trading decisions.
“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 optimises trading strategies, but also reduces costs, making it an invaluable asset for the buy-side.”
Initially available to NYFIX Order Routing clients in the US equities market, the solution is designed for rapid scalability across other asset classes and global regions.
Future plans include extending access to clients on additional Order Routing Networks.
