TORONTO AND LONDON – (BUSINESS WIRE) – Overbond’s bond artificial intelligence (AI) now offers protocol and system independent integration with the electronic trading sites and systems used by buy and sell side trading desks through a strategic alliance with the electronic trading innovator, Rapid Addition. The collaboration will help bond traders around the world harness the power of Overbond AI and automate up to 50% of tenders.
Rapid Addition’s expertise in FIX protocol, counterparty and market connectivity through its open API enterprise software platform will enable global fixed income trading desks to seamlessly integrate bond pricing. based on AI and liquidity score analysis in their workflow, regardless of internal OMS, e-trading system, direct connectivity to sites, cloud or on-premise solution they are currently using. These API connections allow internal system integration, ingestion of external data providers before and after the transaction, and connectivity of liquidity sites – creating a streamlined system capable of automating the flow of quotes to the customer. help from Overbond’s AI engine.
With internal system connectivity facilitated by Rapid Addition’s open API, sell-side bond trading desks can take ownership of Overbond’s AI models by accessing the recorded transaction history to train the model. depending on the negotiating style of the office. By maximizing the accuracy of these models with multi-site coverage, offices can optimize P&L performance.
“Good tools are more powerful when they’re easy to deploy, easy to use, and an integral part of your workflow. Overbond has a powerful suite of AI modeling and visualization tools for trading automation, and with Rapid Addition’s ability to provide market interoperability and connectivity, we can now provide traders with on the sell side a system that is not only capable of automating the flow of requests for quotes in any currency to make markets, but is fully integrated from front to back, ”said Vuk Magdelinic, CEO of Overbond.
Overbond’s COBI-Pricing LIVE is a customizable AI pricing engine designed to help traders automate the pricing and trading processes for global investment grade bonds. It can generate prices and liquidity scores for more than 100,000 fixed income instruments and create curves for more than 10,000 issuers in various liquidity scenarios in real time. COBI-Pricing LIVE has a refresh rate of less than three seconds, giving sell-side trading desks the ability to fully automate 30% of their price requests and execute an additional 20% with oversight from traders.
According to Mike Powell, CEO of Rapid Addition, “We continue to see an increase in electronization in financial markets, driven in part by changes in regulation and market structure, but also driven by the deployment of new technologies. We are excited about the potential to combine Overbond’s expertise in AI and machine learning with the latest iteration of Rapid Addition’s market-leading electronic trading middleware, RA Platform 3.0. As companies seek to improve their return on investment and competitive differentiation, this new generation of flexible and open technologies will help energize the next phase of their business growth. ”
Overbond is a developer of artificial intelligence-based data and analysis and transaction automation solutions that are redefining processes for global fixed income markets. Overbond performs market surveillance, data aggregation and normalization, and in-depth quantitative AI observation on over 100,000 corporate bonds and fixed income ETFs. By applying proprietary artificial intelligence to pricing, curve visualization, market liquidity, issuance propensity, new issue spreads, default risk and automated reporting, Overbond enables automation of transactions and improves transaction performance and portfolio returns. Toronto’s Overbond clients include global investment banks, brokers, institutional investors, corporations and governments in the Americas, Europe and Asia. For more information, please visit www.overbond.com.
About quick add
Rapid Addition’s platform and modular development framework provide the core technology needed to create flexible, high-performance and resilient electronic trading solutions. Rapid Addition was one of the early pioneers in the development of electronic messaging technology and is recognized as a market leader in financial messaging and FPGA protocols. By helping clients with a wide range of use cases throughout the transaction lifecycle, Rapid Addition serves sell-side businesses, asset managers, exchanges and liquidity platforms around the world.
Additional information can be found at www.rapidaddition.com | Twitter: @rapidaddition | LinkedIn: www.linkedin.com/company/rapid-addition-limited