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Overbond has confirmed a data sharing and redistribution partnership with MTS BondsPro, integrating elements of MTS fixed income price data to enhance the coverage and precision of its AI-generated fixed income data feeds and automated trading solutions.
Through the relationship, Overbond AI will be able to integrate 10 million additional price updates daily across 25,000 investment grade, high yield and emerging market debt instruments.
MTS BondsPro clients will have access to Overbond’s fixed income prices and liquidity-confidence benchmarks.
Overbond notes that electronic and automated trading require precise, live data, but significant gaps remain in this data coverage owing to the lack of a centralised source for fixed income trade data.
Executable prices and liquidity measures require sophisticated artificial intelligence (AI) and cloud-based processing for modelling, it says, and most fixed income trading desks lack the expertise and resources to perform these functions in-house.
Overbond CEO Vuk Magdelinic says: “Using post-trade data to generate real-time aggregated data feeds is challenging because of the time lag between the execution of the trade and the release of its associated data, and because only a limited proportion of bonds trade in a given day.
“By providing firm, executable prices in real time, MTS BondsPro fills the data gap between post-trade data and real-time, but non-binding, quotes. Integrating this additional layer of information into Overbond will increase the coverage, the precision and the discovery of best-executable pricing and liquidity in the fixed income markets.”
Overbond is an API-based credit trading automation and execution service for the global capital markets.
The MTS BondsPro automated trading system (ATS) is operated by Wall Street-based broker-dealer MTS Markets International.
