Aiden Earns Industry Award For Innovation in Trading

Published October 5, 2021 | 1 min read

RBC Capital Markets’ AI-powered electronic trading platform wins “Most Innovative Trading System” in The Banker’s annual investment banking awards.

For the second time this year, Aiden has won an industry award for innovation.

The Banker announced its annual Investment Banking Awards on Oct. 1, with Aiden, RBC’s AI-based electronic trading platform, winning “Most Innovative Trading System”. Earlier this year, Aiden was awarded the inaugural Celent Model Sell Side Award.

Aiden officially launched in October 2020. In developing the electronic trading platform, RBC Capital Markets and Borealis AI (RBC’s proprietary AI research institute) undertook one of the biggest challenges in the field of AI today – applying deep reinforcement learning into a constantly changing environment like equities trading. Traders and AI experts worked side-by-side for nearly five years to create and deliver a real-world AI electronic trading solution that RBC’s investment banking clients trading U.S. and Canadian stocks are utilizing today.

“We’re proud to receive this latest honor for Aiden,” said Shary Mudassir, Global Head of Digital Platform and Analytics, RBC Capital Markets. “But we’re even more excited about what’s next for Aiden. The Aiden team and our partners at Borealis AI are busy exploring the platform’s future capabilities as part of our broader mission to redefine trading execution for our clients globally.”

The first live Aiden solution, the Aiden VWAP algorithm, was designed to help improve clients’ trading performance by reducing slippage – the difference between the expected price of a trade and the price at which the trade is executed.

“The Aiden platform has really exceeded all of our expectations so far and it’s great to see the industry recognizing our collective efforts,” added Jas Sandhu, Global Head of Agency Electronic Solutions, RBC Capital Markets. “Aiden’s foundation of deep reinforcement learning is a core differentiator from how AI has been applied in electronic trading in the past, and I think the industry is recognizing that. We’re looking forward to continuing our work with our clients to deliver truly groundbreaking trading technology.”

AIElectronic Trading