Overbond Adds Pre-Negotiation Streaming API for AI-Powered TCA in Its EMS Automation Suite
Over Bond clients now have access to pre-trade and post-trade fixed income TCA for best execution and workflow automation
TORONTO AND NEW YORK, October 5, 2021– (BUSINESS WIRE) – Overbond, a provider of AI analytics and transaction automation for global fixed income markets, today announced the addition of transaction cost analysis Real-time pre-trade and post-trade (TCA) to its execution management system automation suite (EMS) of AI fixed income trading tools. This new Overbond TCA builds on the unmatched data aggregation, exceptional API interoperability, and industry-leading refresh rate that Overbond customers now rely on.
Overbond COBI-Pricing LIVE is one of the few trading suites that features multi-source data entry and the only fixed income analysis suite that enables cross-site liquidity discovery and optimization and cross trading protocols. The full interoperability of COBI-Pricing LIVE through bilateral REST APIs allows AI algorithms to ingest, aggregate and process data from live and historical supplier feeds, internal historical records of executed transactions, Post-trade volume and liquidity data and OTC voice / chat transaction translation Data. Overbond AI achieves industry-leading refresh rate through cloud computing and parallelization.
Leveraging Overbond’s interoperability with internal order management systems (OMS) and trading desk client databases, the TCA reviews OMS records and blotters of past transactions for similar obligations (ISIN / CUSIP) , by examining several variables, including risk, liquidity, size, counterparty, competitive bidding, and dealer quotes and stocks. Overbond AI aggregates data, determines the best executable prices and liquidity, and powers LIVE pre-trade TCA recommendations and post-trade reports.
“The TCA has traditionally been a post-trade exercise, but Overbond brought it to LIVE pre-trade. Overbond AI refreshes the entire TCA retrospective every two seconds for client books that may contain tens of thousands of dollars. trades, so traders can be confident that they have the most comprehensive real-time information available on the best executable prices, liquidity risk, and transaction costs, and can intelligently route orders through bands. No other TCA tool available that combines breadth of data aggregation, API interoperability and speed like Overbond AI, ”said Vuk Magdelinic, CEO of Overbond.
Overbond is a developer of AI-powered redefining data, analytics and trade automation solutions for global fixed income markets. Overbond performs market surveillance, data aggregation and standardization, as well as in-depth AI quantitative 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 trading and improves trading performance and portfolio returns. Overbond’s clients, headquartered in Toronto, include global investment banks, brokers, institutional investors, corporations and governments in the Americas, Europe and Asia. For more information, please visit www.overbond.com.
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