To power automated fixed-income trading, Overbond has partnered with IPC, one of the leading providers of secure multi-cloud communication solutions for the global financial market. IPC’s voice transaction data is recently integrated with Overbond’s AI algorithms. In partnership with IPC, Overbond’s fixed-income AI algorithms and pricing algorithms harness the industry’s deepest data stack, allowing it to automate bond trades with exceptional precision through its deep data stack.
Bob Santella, Chief Executive Officer, IPC, said: “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.”
With Dictation as a Service, IPC’s Natural Language Processing (NLP) platform is delivered from its global Connexus Cloud financial ecosystem backed by industry-leading technology. Using Blotter, IPC’s award-winning e-text visualization application, traders can dictate jargon and have it translated in real-time. End users can convert unstructured voice trade data into searchable, exportable structured data formats of their choice using these tools.
Vuk Magdelinic, Chief Executive Officer, Overbond, said, “Roughly one-quarter of fixed income trades in the United States and Europe are still executed by voice. 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.”
Currently, Overbond is leading the way to solve the issue of data aggregation for fixed income trading. Through the Overbond COBI-Pricing LIVE tool, traders can automate pricing and trading workflows for global investment-grade bonds, generating prices and liquidity scores for more than 100,000 instruments and executing transactions. Through its full interoperability via bilateral REST APIs, COBI-Pricing LIVE can ingest, aggregate and process data from live vendor feeds, internal historical records, OTC settlement layer volume records, and now voice transactions.