Liquidnet, a specialist in agency execution, has partnered with Boltzbit, an AI company, to enhance its operations in the fixed-income primary markets. The collaboration aims to streamline the processing of new bond deals, utilizing Boltzbit’s cutting-edge AI and machine learning technology.
By integrating Boltzbit’s AI capabilities, Liquidnet has significantly reduced the time required to process and present new bond announcements. The company estimates an impressive 90% improvement in the time taken from receiving unstructured deal data to making the bonds available for trading, marking a substantial advancement in efficiency and speed.
Mark Russell, the Head of Fixed Income Strategy at Liquidnet, highlighted the innovative nature of the new system, which enables data interrogation through natural language queries. This approach allows for a more seamless and intuitive analysis of the data, moving beyond traditional Management Information reports to provide dynamic reports based on natural language interactions.
Liquidnet has reported a noticeable increase in trading volumes within its new issue order book since launching its primary market offering in 2022. The company also shared that participation from European syndicate desks has seen significant growth, with over 35 banks now involved in the process.
Boltzbit’s CEO and co-founder, Dr. Yichuan Zhang, emphasized the transformative potential of generative AI in the financial services sector, referring to it as the next wave of technological innovation. The integration of such advanced AI technologies holds promise for boosting productivity, creating new products, and enhancing overall service offerings within the industry.
This partnership between Liquidnet and Boltzbit follows previous collaborations with NowCM and BondAuction, forming part of Liquidnet’s broader efforts to modernize primary markets. Through these strategic partnerships, Liquidnet aims to drive efficiencies and foster greater connectivity among investors, banks, and issuers in the evolving landscape of the financial markets.
