BondCross is Rialto’s proprietary crossing network. Secure, anonymous, and dark, traders can upload portfolios across fixed income asset classes without fear of information leakage. Portfolio constraints can be applied to ensure cash or sector neutrality on executions. Executions occur at midpoint of the bid-ask spread, providing price improvement to the Rialto community. Scheduled BondCross matches occur 3 times a day.
BondCross can be deployed internally at a client site, allowing optimization of portfolios within the same firm. CrossBots, Rialto’s proprietary machine learning technology, are applied to the crossing network to continuously enhance the outcome of the crossing sessions. Importantly, client site deployment CrossBots do not share information with the network. As such, clients keep all information from their internal crossing sessions, including all machine learning improvements, to themselves.
Liquidity Portal provides real-time search opportunities for appropriate issues replacement. Most traders need to buy a type of issue rather than a specific issue. Traders can assign parameters to the search and, thereby, mine all issues to find replacement options. Our in-house proprietary technology applies machine learning to the process and automatically provides the best option from our available network.
BondCross and Liquidity Portal combine allowing clients to place block orders anonymously, advertise their interest to appropriate counterparties without delivering side, size, or strategy, and simultaneously mine a vast database for alternative liquidity sources to fulfill their needs. Trading fixed income has never been easier.
Rialto leverages advanced technology and information to deliver unique alternative liquidity, customizable targeting of counterparts, and an execution process which supports and protects peer-to-peer block trading. This, in turn, simultaneously reduces market impact and opportunity costs.