Market data provider SOLVE has launched SOLVE Px, a predictive pricing tool for high yield (HY) and investment grade (IG) corporate bonds.
This tool will help corporate bond traders to navigate and identify opportunities within uncertain markets, the company said.
Building on SOLVE Quotes, the service is built on a machine learning model trained on reference trade and quote data. Size-specific pricing data is generated in real-time for bid, mid and offer levels, with each prediction accompanied by price, yield and spread.
Clients can access the data through SOLVE’s Quotes web application, FTP and FIX feeds. The company plans to also offer connection via APIs and an Excel add-in.
More than 100,000 bonds are covered by the tool, which aims to improve decision-making in illiquid markets. Pricing is adjusted based on evolving market conditions, which SOLVE states will allow users on both the buy and sell sides to identify trade opportunities and better manage risk.
The company has also expanded its relative value analysis tool, developed for municipal bonds earlier this year, to the corporate bond market. This mechanism illustrates how a bond’s value changes over time.
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