Broadridge is set to go live with its new algo co-pilot offering in the next few weeks, aimed at helping the buy-side route their orders better.
Named NYFIX Algo Co-Pilot, the new product uses AI to build a picture of fils in the market to better inform traders when they look to select an algorithmic strategy, all in a bid to reduce the implicit cost of trading. Broadridge has partnered with Babelfish.com to power the AI element and Google for the cloud requirements.