Tradeweb has launched an AI research assistant for institutional credit trading.
The Tradeweb AI Research Assistant (TARA) is a conversational model integrated into the firm’s platform. Clients can query the service on market conditions, trading activity and pricing, and receive responses based on Tradeweb’s proprietary historical and real-time data and analytics, TRACE market activity and more.
TARA is initially available for US credit trading workflows, and is expected to expand to global credit and global government bonds later this year. Tradeweb intends to make the service a multi-asset solution in the future.
Izzy Conlin, head of strategy and solutions for global markets at Tradeweb, commented, “As markets become increasingly electronic and data-driven, the challenge for traders is no longer access to information, but the ability to efficiently extract actionable insights from massive and growing datasets.”
Earlier this week competitor MarketAxess released an AI tool for corporate bonds in partnership with AIQ Markets, allowing users to search for bond data and construct portfolios using natural language inputs.
READ MORE: MarketAxess, AIQ Markets launch AI corporate bond tool
Trumid, meanwhile, has been building out its automation tools across the credit space.
READ MORE: Trumid launches cross-protocol execution automation
Activity in the US corporate bond market was reinvigorated in May for both Tradeweb and MarketAxess.
READ MORE: Tradeweb takes the lead in May credit e-trading
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