Overbond partners with IPC to accelerate digital transformation of fixed income trading

By Pavithra R

Overbond, AI quantitative analytics provider for institutional fixed income capital markets, has announced partnering 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 deep 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. 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 Vuk Magdelinic, Chief Executive Officer, Overbond.

IPC’s Dictation as a Service is a leading cloud-based Natural Language Processing (NLP) 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 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.

“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,” said Bob Santella, Chief Executive Officer.

Overbond has led the way in tackling the data aggregation issues affecting automated trading of fixed income. Its 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 voice transactions.