Broadridge Rolls Out AI-Powered Algo-Selection Tool to Cut Costs

Broadridge Financial Solutions Inc. is looking to shake up algorithmic trading with a new AI-powered algo-selection tool that aims to improve accuracy and reduce trading costs by making recommendations.

The offering is being rolled out this month to asset managers, hedge funds and other buy-side firms trading in the US equities market, according to company executives.

“We’re trying to reduce the implicit costs of trading by looking at decades of history on how algos execute and making a recommendation based on that data,” George Rosenberger, head of NYFIX at Broadridge Trading and Connectivity Solutions, said in an interview.

The artificial-intelligence ...