IPC today announced a partnership with Overbond to integrate IPC’s point-of-trade voice transaction data into Overbond’s AI algorithms powering automated fixed-income trading.
TORONTO, ON and JERSEY CITY, NJ —August 5, 2021 — Overbond has partnered with IPC, a leading provider of secure, compliant communications and multi-cloud connectivity solutions for the global financial markets, to integrate IPC’s point-of-trade voice transaction data into Overbond’s AI algorithms powering automated fixed-income trading. Overbond’s fixed-income AI pricing and liquidity algorithms harness the industry’s deepest data stack, which now includes voice trades through the partnership with IPC, bringing exceptional precision to the automation of bond trades.
“Roughly one quarter of fixed income trades in the United States and Europe are still executed by voice,” said Vuk Magdelinic, Chief Executive Officer, Overbond. “This heretofore uncaptured data was a significant gap in AI-powered, automated fixed-income trading and modeling, and will be erased by Overbond’s strategic collaboration with IPC.”
Said Bob Santella, Chief Executive Officer, IPC: “Our partnership with Overbond continues the digital transformation of fixed income trading by fully harnessing the power of voice data. As a company, IPC embraces an open platform approach to reimagine how financial institutions everywhere trade, share information, and optimize workflows.”
IPC’s Dictation as a Service is an industry-leading cloud-based Natural Language Processing (NLP) solution, powered by IPC’s global Connexus Cloud financial ecosystem. The service enables traders to “dictate” trade jargon and translate the output in real-time through IPC’s award-winning Blotter visualization application. These tools provide a comprehensive end-user solution for converting unstructured voice trade data into a searchable, exportable structured data format in real-time.
Meanwhile, Overbond has led the way in tackling the data aggregation issues affecting automated trading of fixed income. Overbond’s COBI-Pricing LIVE is a customizable AI pricing engine that assists traders in automating pricing and trading workflows for global investment-grade bonds, generating prices and liquidity scores for more than 100,000 fixed income instruments. The full interoperability of COBI-Pricing LIVE via bilateral REST APIs allows its AI algorithms to ingest, aggregate and process data from live and historical vendor feeds, internal historical records, OTC settlement layer volume records, and now voice transactions.
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.
IPC is a technology and service leader powering the global financial markets. We help clients anticipate change and solve problems, setting the standard with industry expertise, exceptional service, and comprehensive technology. With a customer-first mentality, IPC brings together one of the largest and most diverse global financial ecosystems spanning all asset classes and market participants. As the enabler of this ecosystem, IPC empowers the community to interact, transact and react to market changes and challenges, and we collaborate with our customers to help make them secure, productive, compliant, and connected. Visit ipc.com and follow us on LinkedIn and Twitter (@IPC_Systems_Inc).