Royal Bank of Canada Capital Markets is rewriting the rules on high frequency trading. With their new Aiden platform they now have the ability to respond to the challenges of fluid and dynamic market conditions in real-time. Previously there was a need for re-coding, much like what is seen in existing trading algorithms. With Aiden though, due to its hundreds of pre-programmed data inputs, coupled with the ability to make more than 32 million calculations per order, the Aiden platform is able to execute trading decisions by learning from each of its previous actions. The story below provides more color on how RBC is utilizing AI to its full advantage in conquering the financial markets.
Financial institutions are upping their investments in Artificial Intelligence (AI) technology to improve trading results and customer service efforts.
Most recently, the Royal Bank of Canada Capital Markets announced the “Aiden®” platform, which is an AI-based electronic trading platform that leverages the processing power of deep reinforcement learning for the purpose of improving trading results and insights for clients. The RBC is Canada’s largest bank with 17 million clients around the world.
RBC Capital Markets, along with Borealis AI, an AI research center created by RBC, created Aiden. Traders and AI scientists worked side-by-side to create the initial concept and deliver a real-world solution, according to an RBC statement. It went on to say they applied deep reinforcement learning into a constantly changing environment such as equities trading, with measurable and explainable results for its users.