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OVERBOND BRINGS TO CREDIT TRADING A.I. SMART ORDER ROUTING AND FOR THE
FIRST-TIME SEPARATE BID AND ASK LIQUIDITY SCORING
--------------------------------------------------------------------------------
News provided by
Overbond Ltd.
19 Sep, 2023, 07:00 ET
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Newly launched AI-driven smart order routing and bid-ask liquidity tiering tools
developed by Overbond allow fixed income traders to optimize execution and fully
automate more trades.
TORONTO and LONDON, Sept. 19, 2023 /CNW/ - Following its bid-ask liquidity
scoring model's recent launch, Overbond launched its smart order routing (SOR)
system today. These AI-driven tools are critical for achieving no-touch
end-to-end bond trading automation and may contribute to the continuing increase
in automated trading of fixed income.
Whether trading over the phone, by message or electronically, both buy-side and
sell-side traders face the challenge of determining the liquidity of a bond
before they trade. This knowledge is also crucial for determining which trades
are suitable for auto-execution.
Buy-side traders must also choose where, how, and when to transact to ensure
optimal execution. Traders need to know whether they can trade at their desired
price for their desired size within their desired time. For large trades,
achieving optimal execution may involve breaking the trade up into multiple
smaller trades.
Overbond has developed AI-driven liquidity and price confidence analytics that
auto-adapt to trade size and direction, enabling traders to see implied
liquidity and confidence scores across hundreds of thousands of fixed income
securities. The scores are derived from volatility and bid-ask spread components
and are divided into tiers according to their liquidity and pricing confidence
relative to the universe of bonds with the same currency. Overbond assigns bonds
to three tiers. Tier 1 bonds, for example, are the most liquid and are the best
candidates for auto-execution.
SOR is an automated process used by the buy-side for online trading. It executes
trades by allocating them across various electronic trading venues and
counterparties based on price and liquidity to get the best execution and
minimise trading costs. When necessary, the SOR algorithm may first determine an
optimal way to break up, or chunk, the trade.
Overbond worked with partners from the buy and sell sides to develop an SOR
system with AI-enhanced routing logic that maximises execution probability and
gives the trader complete visibility of how the order will be broken down.
"We're very excited about the launch of these tools. At Overbond we have a
strong team of data scientists and developers who are working hard to innovate
and push the boundaries of what AI can do in the fixed income markets. Gauging
liquidity and routing orders are pivotal steps in the trading process and
enhancing them with AI can help traders manage their workflow more efficiently,
automate more trades and improve profitability," 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 250,000 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.
SOURCE Overbond Ltd.
For further information: Stephen Miles, Director, Public Relations,
Stephen.miles@overbond.com ; Overbond, 40 Gracechurch, London, UK EC3V 0BT,
+1-416-559-7101
×
MODAL TITLE
ORGANIZATION PROFILE
OVERBOND LTD.
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* Overbond launches trade size-sensitive AI bond liquidity and pricing analytic
that auto-adjusts in real time for buy and sell trades; wins A-Team Group
award for Most Innovative AI
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