Generative AI is coming for bond trading, but a massive hurdle still stands in the way of digitization of the market
LTX, a corporate bond trading platform owned by Broadridge, Wall Street's omnipresent behind-the-scenes provider, launched a chatbot specifically geared toward answering bond-related questions.
BondGPT, which is powered by, you guessed it, OpenAI GPT-4, serves as a personal assistant of sorts for all things bonds,With a prompt of"Ask me anything about bonds!" users can inquire with BondGPT about anything from"Which IG utility bonds mature between 2025 and 2035?" to"What telecom bonds have the highest liquidity in the past 30 days?"Perhaps this doesn't sound all that groundbreaking.
Most corporate bonds, meanwhile, are still largely traded over the phone. While progress has been made inNaturally, that type of market dislocation has led plenty of firms pushing into the space. Marketplaces for trading bonds like
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