Overbond AI models integrate CDS FIPS 01 September 2022Canada Reporter: Lucy Carter
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Overbond has partnered with TMX Group (TMX) to integrate CDS FIPS settlement-layer Canadian bond data into their fixed income trading tools and analytic services.
Integrating clearing and depository services (CDS) fixed income price data (FIPS) into Overbond’s artificial intelligence models gives asset managers access to Canadian fixed income trade data. It also provides both pre- and post-trade analytics.
In addition, the inclusion of over-the-counter (OTC) trade volumes increases allows for more accurate best-executable pricing and liquidity discovery for Canadian bonds, the company claims.
Combining executed trade settlement date and custody date from electronic and OTC trades, CDS FIPS provides complete daily volume information on Canadian fixed income trades. The data covers more than 40,000 Canadian corporate and government bonds.
Commenting on the collaboration, Vuk Magdelinic, CEO of Overbond, says: “Adding settlement layer data to Overbond AI models is the next frontier in data aggregation necessary for discovering best-executable pricing and liquidity in the Canadian corporate bond market.”
Michelle Tran, president of TMX Datalinx, adds: “We expect that TMX and Overbond will enable additional AI-driven data and analytics tools for use by asset managers, buy-side and sell-side traders, analysts, compliance departments, and back offices across multiple asset classes.”
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