OTC traders can now hide their trades from any human broker. This is what chatbot from AiX… the Artificial Intelligence Exchange will do.
Therefore no need to call someone as in the case Of OTC- over the counter trading. The trading startup is based in London, United Kingdom.
December all will be set at the crypto markets for this artificial intelligence tool to be used especially for big-money traders.
Later, the same innovation will be extended to traditional asset classes in Q1 2020 as AiX will bring that on-board.
As the AI chatbot gets set to prove how it can replace human brokers according to AiX claims, these functions and features are to be performed by the AI which includes;
The automation of pre- and post-trade administration, performs pre-trade credit checks and passes trade details electronically to a settlement agency or clearinghouse.
It can also assists in negotiations and as such. negotiations between multiple participants.
AiX CEO Jos Evans said. “ The whole system front to back will be automated ”
A look at digital market-making and trading firms presently require traders to connect to their systems through the application programming interfaces (APIs), with this pattern, those firms are in a good positions to know what traders have taken, Joe Evans has stated.
With the completion of AiX’s know-your-customer requirements, users can then go ahead with the transaction processes. Interactions by the users from the chatbot is done through Telegram and Symphony.
The chatbot combines natural language processing and cognitive reasoning technology, according to the the Ceo-Evans.
Though the exchange has done this before. The first AI-brokered trade between Rockwell Capital Management and TLDR Capital was done by the firm.
Now the selling point for the crypto trading community is the ability for institutions to trade anonymously, stated Evans.
The AiX combines with technology to give a more realistic results. There is a conversation between AiX and user where their information on their intentions are known.
The tool being used also comply with the markets in financial instruments directive (MiFID), a European Union regulation that sets transparency requirements for pre- and post-trade transparency.
This combination of tech gives AiX the ability to hold a conversation with customers in which the bot can clarify the customer’s intention – something that has been elusive for many AI companies until recently.
“AiX is programmed to interact with customers during the process and whatever is being recorded is used to communicate with a client in a workflow using a dropdown system to select trade parameters,” Evans said.
Some of the biggest names in the world of crypto, up to 50 firms are also onboarding of this AiX. The firm is set to launch by December.
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Credits: Nathan DiCamilloJOIN OUR COMMUNITY