BTON, a provider of AI-powered trading solutions, is set to launch its services in the United States on Monday, as reported by The TRADE. BTON's innovative technology connects transaction cost analysis (TCA) with order routing, featuring an AI-driven broker recommendation system that significantly enhances the traditional broker selection process. This system employs advanced neural network algorithms to predict slippage and ensures that orders are dynamically matched with the most suitable broker.
The company's technology grants users immediate access to state-of-the-art solutions, continuously improving through the aggregation of anonymised insights derived from their broad client base. Daniel Shepherd, chief executive of BTON, expressed enthusiasm about the upcoming launch, citing a collective industry acknowledgment that AI is poised to transform workflows and enhance outcomes. “The industry has collectively come to the conclusion that AI is going to revolutionise workflows and optimise outcomes," Shepherd stated in comments to The TRADE. He also noted, "In the US there’s a real level of optimism in this space, so we’re very excited to be part of this and the opportunities arising there.”
In addition to the US launch, BTON is collaborating with other AI-centric firms to host an AI-focused capital markets forum on 6 February. This event, titled ‘Innovation, Collaboration & Future of AI in Trading’, will convene at the British Consulate Residence in New York. Participants will engage in discussions regarding the implications of recent market developments, such as the UK’s newly released AI action plan, which is believed to have accelerated the evaluation of the technology's future integration in trading practices.
Paul Brennan, chief strategy officer at Imandra, highlighted the forum’s purpose: “It will be a dynamic, interactive discussion on the future of AI in trading, exploring the immediate opportunities and the strategic pathways needed to integrate into trading workflows.” He emphasized the necessity for collaboration among various players, including traders, fintech innovators, vendors, and liquidity providers, in order to fully leverage the benefits of AI.
The forum, which is expected to attract twenty industry experts from the buy and sell side, exchanges, and fintech firms, underscores the growing recognition of AI's role as a central force in the trading industry and the importance of collective participation in its advancement. Andrew Simpson, chief executive of SIGMA Financial AI, echoed this sentiment, stating, “AI is not a niche sport. It’s about mass participation, bringing together collaborative ideas.” He further elaborated on the need for strategic partnerships in light of the competitive landscape, asserting that "it’s about organising ourselves so we can compete with firms who already have economies of scale."
The proactive approach towards AI in trading reflects the broader industry momentum, with a consensus among stakeholders about the necessity to embrace these emerging technologies as integral components of future business practices.
Source: Noah Wire Services