Overbond and IPC partner on voice-to-AI supporting bond trading automation

Dan Barnes

Overbond has partnered with IPC, the communications and cloud connectivity service provider, to integrate IPC’s point-of-trade voice transaction data into Overbond’s artificial intelligence (AI) algorithms to support the automation of fixed-income trading.

“Roughly one quarter of fixed income trades in the United States and Europe are still executed by voice,” said Vuk Magdelinic, chief executive officer of Overbond. “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.”

Bob Santella, chief executive officer at 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.”

IPC’s Dictation-as-a-Service is a cloud-based natural language processing (NLP) service powered by IPC’s global Connexus Cloud financial ecosystem. It is designed to enable traders to ‘dictate’ trade jargon and translate the output in real-time through IPC’s Blotter visualisation application. These tools provide an end-user solution for converting unstructured voice trade data into a searchable, exportable structured data format in real-time.

Overbond’s COBI-Pricing LIVE is a pricing engine that assists traders in automating pricing and trading workflows for global investment-grade bonds, generating prices and liquidity scores for a reported 100,000+ fixed income instruments. The 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, over-the-counter (OTC) settlement layer volume records, and now voice transactions.

©Markets Media Europe, 2021