With broker-dealers seeking efficiency and reducing costs, Evgeny Sorokin, CVP at Devexperts, discusses the role of automation in their operations. Despite recent Large Language Models (LLM) achievements, AI is still not yet fully automated for crucial aspects of compliance and risk management. However, there are several ways to automate these areas with software that can be time-tested and configurable for each brokerages needs. For example, if a client exceeds a safe number of orders daily, their orders should be alerted or sent to a risk desk for review before being further routed to execution. For corporate actions, corporate actions can be entirely automated without interruptions from a broker’s staff. For reconciliation, brokers should use advanced technology to handle legacy systems and missing integrations between them.
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