The first product of the platform is an algorithm allowing clients to execute trades as close as possible to the weighted average price based on the volume of the day
Royal Bank of Canada launches artificial intelligence-based electronic trading platform to clients around the world, starting with algorithm designed to help reduce trading slippages
The Aiden trading platform, the result of five years of research and development, will now be available to international clients who trade US and Canadian stocks, the Toronto-based bank said on Wednesday. Some Canadian clients are already using the system and some US customers had tested it in beta
The platform’s first product is an algorithm to help clients execute trades as close as possible to the day’s volume weighted average price To achieve this goal, which evolves over the day, Aiden uses « deep reinforcement learning » that does not require recoding like traditional machine learning techniques, said Shary Mudassir, Co-Director of Global Equities Execution. for RBC Capital Markets
“This form of AI allows us to navigate very intelligently through the challenges of a very fluid and dynamic market,” Mudassir said in an interview “You can’t just rely on traditional approaches to machine learning which are based only on historical data, but which do not learn from the dynamic nature of the world with which they are engaged «
Aiden was jointly developed by RBC Capital Markets and the Borealis AI research center, which is backed by the bank and led by inventor Foteini Agrafioti RBC and Borealis have already introduced AI-based solutions for operations retail bank
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Royal Bank of Canada, RBC Capital Markets, Electronic Trading Platform, Artificial Intelligence
World News – CA – RBC Deploys Trading Platform Based On ‘AI to its global customers
SOURCE: https://www.w24news.com
