BondXN Inc., an electronic trading platform for mortgage-backed securities, has linked its system to BlackRock Inc.’s tech platform, Aladdin, as part of a multi-year partnership aimed at improving mortgage-backed-securities trading for institutional investors, the provider announced. Financial terms of the deal were not disclosed.
The integration of BondXN with Aladdin is intended to allow common clients of the two platforms to access BondXN’s Specified Pool and To-Be-Announced Trading capabilities. According to BondXN, the workflows, dealer inventories and screening tools will provide a streamlined process on e-trading protocols.
“By combining BondXN’s market-leading technology with the Aladdin platform’s institutional reach, we are creating new standards for transparency and efficiency in MBS trading,” BondXN Chief Product Officer Nic Tandon said in a statement. “This partnership allows common clients to access deeper liquidity, simplify complex workflows, and accelerate trade execution.”
According to the company, orders submitted through Aladdin will go directly into the BondXN platform so users can source liquidity, engage multiple dealers and process trades back into the Aladdin platform, which will reduce “operational friction” and manual steps.
According to BondXN, its technology provides dealers with the ability to organize all bid-wanted-in-competition workflow.
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Tags: Aladdin, BlackRock, MBS, mortgage-backed securities, trading