AiX has announced the launch of what it claims is the world’s first natural language artificial intelligence (AI) broker platform, facilitating automated peer-to-peer trading in institutional OTC markets.
The firm says it aims to transform OTC markets through its AI-driven negotiation and matching engine, executed through the AiX chatbot, which it says enables instant access to liquidity, immediate price discovery, best execution and automatic settlement while ensuring anonymity. Facilitated through natural language processing and cognitive reasoning, the AiX chatbot serves the role of a human voice broker but uses technology that allows it to process thousands of orders accurately at a fraction of the cost for the end-user.
The solution has initially gone live in cryptocurrency markets, and the first negotiated trade was a BTC/USD transaction between GSR Markets and DV Chain. The trade was settled through Zero Hash, the fully regulated post-trade settlement infrastructure for digital assets. Other notable crypto liquidity providers and clients who have onboarded include Blockfills and Trigon Trading, AiX says.
“I am thrilled to be declaring AiX open for business,” says Jos Evans, founder of AiX. “The team has created technology that is going to revolutionise the OTC markets and bring much needed disruption to the world of inter-dealer brokers. We look forward to our transformative role in the future of these markets.”
Adam, Leaman, chief client officer at ZeroHash, adds, “The AiX platform is extremely forward thinking and represents the best of AI-driven execution. The Zero Hash settlement ecosystem now serves over a dozen platforms and is purpose built to allow platforms such as AiX to settle digital asset trades in a safe, secure, and regulated manor.”
Meanwhile, Dave Vizsolyi, head trader at DV Chain, says, “We’re very excited to have participated in the first AiX negotiated trade and are looking forward to many more. Being able to both quote and book trades through IM, and then to settle safely through Zero Hash is invaluable, and we look forward to trading with more counterparties through the platform.”
AiX also claims the platform will bridge OTC and algorithmic liquidity, enhancing access for traders in traditionally voice-brokered markets as well as programmatic asset managers that cannot currently access OTC markets.