Broadridge has launched a ChatGPT-style Large Language Model for streamlining back office operations and cutting settlement fails.
The module, dubbed OpsGPT, uses transactions, settlements and positions data to provide clients real-time visibility for faster fails resolution, researching next best actions and prioritising key risk items in a single interface. The system has been trained on curated and harmonised data from Broadridge’s global multi-asset post trade systems which power the clearance and settlement of $10 trillion in trades daily.The launch comes as major markets covert to a T+1 timeline for settling trades, further straining the capacity of back offices to deal with high velocity trading flows.“OpsGPT is the GenAI-powered-copilot that will simplify and optimise trading operations, generating a step change in productivity for operations teams, creating post-trade trade lifecycle event transparency and empowering users to swiftly remediate, reduce, and prevent risks,” says Vijay Mayadas, president of capital markets at Broadridge. “Leveraging automation to reduce manual intervention through OpsGPT will allow clients to operate at peak efficiency, despite changing regulations and market complexities.”
By on Thu, 11 Jan 2024 13:36:00 GMT
Original link