Overbond Adds Pre-trade Streaming API for AI Optimised TCA into its EMS Automation Suite

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Classified in:Science and technology
Subject: Product/Service

Overbond, a provider of AI analytics and trade automation for the global fixed income markets, announced today the addition of real-time pre-trade and post-trade transaction cost analysis (TCA) to its execution management system (EMS) automation suite of AI fixed income trading tools. This new Overbond TCA draws on the unmatched data aggregation, exceptional API interoperability and industry-leading refresh rate that Overbond clients have come to rely upon.

Overbond COBI-Pricing LIVE is one of the few trading suites that features a multi-source data input and the only fixed income analytics suite that allows for cross-venue, cross-trading-protocol liquidity discovery and optimisation. The full interoperability of COBI-Pricing LIVE via bilateral REST APIs allows AI algorithms to ingest, aggregate and process data from live and historical vendor feeds, internal historical records of executed trades, post-trade volume and liquidity data and voice/chat OTC transactions translation data. Overbond AI achieves an industry-leading refresh rate using cloud computing and parallelization.

Harnessing Overbond interoperability with the internal order management systems (OMS) and client databases of the trading desk, the TCA looks back through OMS records and blotters from past transactions for similar bonds (ISIN/CUSIP), looking at multiple variables including risk, liquidity, size, counterparty, RFQ competitiveness and dealer quotes and inventories. Overbond AI aggregates the data, determines best executable pricing and liquidity and powers TCA pre-trade LIVE recommendations and post-trade reports.

“TCA has traditionally been a post-trade exercise, but Overbond has brought it to pre-trade LIVE. Overbond AI refreshes the entire TCA look-back every two seconds for client books that can have tens of thousands of trades, so traders can be confident that they have the most complete real-time information available on best-executable pricing, liquidity risk and transaction cost, and can smart order route in the price-size chunks necessary. No other TCA tool available combines the breadth of data aggregation, API interoperability and speed like Overbond AI,” said Vuk Magdelinic, CEO of Overbond.

About Overbond

Overbond is a developer of process-redefining, AI-driven data and analytics and trade automation solutions for the global fixed income markets. Overbond performs market surveillance, data aggregation and normalization, and deep AI quantitative observation on more than 100,000 corporate bonds and fixed income ETFs. Applying proprietary artificial intelligence to pricing, curve visualization, market liquidity, issuance propensity, new issuance spreads, default risk and automated reporting, Overbond enables trade automation and enhances trade performance and portfolio returns. Clients of Toronto-based Overbond include global investment banks, broker dealers, institutional investors, corporations and governments across the Americas, Europe and Asia. For more information, please visit www.overbond.com.

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