Broadridge Financial Solutions has unveiled OpsGPT, a solution designed to enhance efficiency in post-trade operations. By harnessing the power of Generative AI (GenAI) and Large Language Model technology, OpsGPT aims to simplify and optimize trading in a T+1 environment.
This solution intends to provide real-time visibility, faster resolution, and effective risk management of trading operations. According to the fintech firm, OpsGPT caters to the evolving needs of the industry by reducing settlement cycles and increasing demand for efficiency.
Post-trade Optimization
Vijay Mayadas, the President of Capital Markets at Broadridge, mentioned: "OpsGPT is the GenAI-powered-copilot that will simplify and optimize trading operations, generating a step change in productivity for operations teams, creating post-trade trade lifecycle event transparency and empowering users to remediate, reduce, and prevent risks swiftly."
OpsGPT provides real-time insights and facilitates faster decision-making by prioritizing key risk items and suggesting the best actions for traders. Broadridge's AI platform allows clients to choose a model based on specific use case needs.
Last year, Broadridge introduced an AI-powered application that utilizes OpenAI technology to enhance the bond selection process within the $10.3 trillion US corporate bond market.
Dubbed BondGPT, this solution enables users to query and identify corporate bonds on Broadridge's LTX trading platform based on specific criteria.
Broadridge Embraces AI
Operating within LTX's Liquidity Cloud, BondGPT uses a technology that ensures real-time liquidity needs are met. By combining the capabilities of GPT-4 with LTX's analytics and comprehensive dataset, BondGPT promises up-to-date data, compliance, and accuracy.
Besides that, HSBC embraced Broadridge's Distributed Ledger Technology (DLT) Repo platform last year. Leveraging DLT and smart contracts, the global lender aims to significantly enhance operational efficiency, reduce settlement costs, and mitigate risks using the platform.
This collaboration underscored the transformative potential of DLT in reshaping traditional financial infrastructures. Beyond just adopting DLT, HSBC's move reflects a broader trend of financial institutions seeking innovative solutions to optimize their operations in an ever-evolving market, Finance Magnates reported.
Additionally, LTX introduced the Request for Quote (RFQ+) protocol. This platform integrates AI-powered BondGPT to streamline the processing of larger trades in the credit markets. By pooling responses from multiple dealers, RFQ+ aims to revolutionize the execution of large transactions, addressing challenges inherent in traditional processes.
