The
fixed-income data and analytics specialist SOLVE recently launched a new platform
that promises to redefine how professionals in the sector operate. The platform
aggregates a comprehensive set of historical and real-time data and offers insights
that let users make informed decisions.
This move
comes on the heels of the recent acquisitions of Advantage Data and
Lumesis, solidifying its position in the field of fixed-income data. Finance
Magnates spoke with SOLVE’s Co-Founder and CEO, Eugene Grinberg, about the
company’s latest platform and how it can collect ten times more pre-trade
data than other available sources.
The SOLVE
platform is designed to meet the diverse needs of institutions, ranging from
identifying new trading opportunities to regulatory compliance. It is powered
by Deep Market Insight, a technology that, according to its creators, delivers
the most accurate fixed-income data set available. This technology eliminates
the need for hundreds of hours spent on data research and analysis, thereby
reducing risk and driving growth.
“We
leverage Deep Market Insight in two parallel ways – on the one hand, we
aggregate quotes from the messages of individual clients to organize their firm’s
data and then the same mechanism is used to aggregate quotes contributed by our
vast network of buy- and sell-side contributing clients,” Eugene Grinberg, commented to Finance Magnates.
Source: SOLVE
He also
emphasized the platform’s ability to meet the specific requirements of large
institutional customers, including bankers, underwriters, issuers, and many
others. “With the SOLVE Platform in place, institutions can price bonds
and securities on a real-time basis with great confidence,” the CEO said.
Therefore,
the new tool stands out for its approach to data collection. For example, the
company offers a range of features, including real-time pre- and post-trade
pricing, extensive coverage of illiquid securities, and regulatory compliance
solutions for the municipal bond market.
“To
provide maximum transparency, we overlay pre-trade quotes with post-trade
pricing. When looking to ascertain fair market value of bonds, the best
indicator is a materialized trade,” Grinberg explained. “However,
most securities don’t trade daily or even weekly or monthly. Hence any
available quotes on these securities may be as good as it gets to establish
fair value, or trades and quotes on comparable securities. There is typically a
hierarchy as bonds get more and more illiquid.”
10 Times More Pre-trade
Data than the Competition
The above-mentioned
features are made possible by an AI-powered technology, which collects 10
times more pre-trade data than any other source. How is this possible?
“SOLVE’s
approach to tracking real-time trade chatter is dramatically different from
other platforms on the market. While many of our competitors act as ‘parsers’,
which rely on an expectation of consistency between messages, they almost all
fall into the same trap – trying to mimic messages with quotes through
templates,” explained Grinberg.
SOLVE’s Ticker solution now seamlessly integrates SOLVE’s Quotes & Composite Pricing Market Data showing Municipal pre-trade quotes alongside historical trade data. https://t.co/nvOaIp3cXA#MunicipalBonds #MarketData #InvestmentAnalysis #PreTradePricingData #TradeQuotes
— SOLVE (@SOLVEfixdincome) October 30, 2023
The company relies on a flexible approach involving natural language processing and machine
learning. While parsers would need to know a message’s specific rigid format
in advance to decode it, SOLVE doesn’t need to know what messages look like,
allowing the platform to extract quotes more accurately and in real-time.
“Where
most parsers fall short is the reality that there is very little consistency in
messages between traders, resulting in missed quotes and lots of false
positives,” Grinberg added.
The SOLVE
approach is highly differentiated, which results in significantly higher data
coverage. According to Grinberg, one of the company’s competitors claims to be
seeing “about 100,000 quotes per day” when they see “about
18,000,000 in that same asset class.”
SOLVE Acquires Advantage Data, Lumesis and
Works on New Products
The
acquisitions of Advantage Data and Lumesis have also played a crucial role in
enhancing SOLVE’s offerings. These companies brought valuable products focused
on primary markets, which SOLVE has significantly improved by integrating its
own data offerings. Consequently, SOLVE has been able to provide even more
value to its clients.
“Both
Advantage Data and Lumesis had incredible products focused on Primary Markets
and enabling bankers, analysts, underwriters, and syndicates to drive better
decision-making. We saw an opportunity to significantly enhance these products
with SOLVE’s data offerings and by boosting their ability to provide value to
clients,” Grinberg commented.
In terms of
regulatory compliance, the platform offers tools that help institutions adhere
to rules and regulations effectively. Quotes are leveraged in various ways,
especially for the purposes of “Best Execution,” providing a
point-in-time view of available data when a transaction is made.
As for the
future, SOLVE is working on a few new projects. “There are a number of
products in the pipeline that will add even more innovative analytics and
visualization solutions to help clients interpret market data and generate
P&L opportunities,” Grinberg concluded.
The
fixed-income data and analytics specialist SOLVE recently launched a new platform
that promises to redefine how professionals in the sector operate. The platform
aggregates a comprehensive set of historical and real-time data and offers insights
that let users make informed decisions.
This move
comes on the heels of the recent acquisitions of Advantage Data and
Lumesis, solidifying its position in the field of fixed-income data. Finance
Magnates spoke with SOLVE’s Co-Founder and CEO, Eugene Grinberg, about the
company’s latest platform and how it can collect ten times more pre-trade
data than other available sources.
The SOLVE
platform is designed to meet the diverse needs of institutions, ranging from
identifying new trading opportunities to regulatory compliance. It is powered
by Deep Market Insight, a technology that, according to its creators, delivers
the most accurate fixed-income data set available. This technology eliminates
the need for hundreds of hours spent on data research and analysis, thereby
reducing risk and driving growth.
“We
leverage Deep Market Insight in two parallel ways – on the one hand, we
aggregate quotes from the messages of individual clients to organize their firm’s
data and then the same mechanism is used to aggregate quotes contributed by our
vast network of buy- and sell-side contributing clients,” Eugene Grinberg, commented to Finance Magnates.
Source: SOLVE
He also
emphasized the platform’s ability to meet the specific requirements of large
institutional customers, including bankers, underwriters, issuers, and many
others. “With the SOLVE Platform in place, institutions can price bonds
and securities on a real-time basis with great confidence,” the CEO said.
Therefore,
the new tool stands out for its approach to data collection. For example, the
company offers a range of features, including real-time pre- and post-trade
pricing, extensive coverage of illiquid securities, and regulatory compliance
solutions for the municipal bond market.
“To
provide maximum transparency, we overlay pre-trade quotes with post-trade
pricing. When looking to ascertain fair market value of bonds, the best
indicator is a materialized trade,” Grinberg explained. “However,
most securities don’t trade daily or even weekly or monthly. Hence any
available quotes on these securities may be as good as it gets to establish
fair value, or trades and quotes on comparable securities. There is typically a
hierarchy as bonds get more and more illiquid.”
10 Times More Pre-trade
Data than the Competition
The above-mentioned
features are made possible by an AI-powered technology, which collects 10
times more pre-trade data than any other source. How is this possible?
“SOLVE’s
approach to tracking real-time trade chatter is dramatically different from
other platforms on the market. While many of our competitors act as ‘parsers’,
which rely on an expectation of consistency between messages, they almost all
fall into the same trap – trying to mimic messages with quotes through
templates,” explained Grinberg.
SOLVE’s Ticker solution now seamlessly integrates SOLVE’s Quotes & Composite Pricing Market Data showing Municipal pre-trade quotes alongside historical trade data. https://t.co/nvOaIp3cXA#MunicipalBonds #MarketData #InvestmentAnalysis #PreTradePricingData #TradeQuotes
— SOLVE (@SOLVEfixdincome) October 30, 2023
The company relies on a flexible approach involving natural language processing and machine
learning. While parsers would need to know a message’s specific rigid format
in advance to decode it, SOLVE doesn’t need to know what messages look like,
allowing the platform to extract quotes more accurately and in real-time.
“Where
most parsers fall short is the reality that there is very little consistency in
messages between traders, resulting in missed quotes and lots of false
positives,” Grinberg added.
The SOLVE
approach is highly differentiated, which results in significantly higher data
coverage. According to Grinberg, one of the company’s competitors claims to be
seeing “about 100,000 quotes per day” when they see “about
18,000,000 in that same asset class.”
SOLVE Acquires Advantage Data, Lumesis and
Works on New Products
The
acquisitions of Advantage Data and Lumesis have also played a crucial role in
enhancing SOLVE’s offerings. These companies brought valuable products focused
on primary markets, which SOLVE has significantly improved by integrating its
own data offerings. Consequently, SOLVE has been able to provide even more
value to its clients.
“Both
Advantage Data and Lumesis had incredible products focused on Primary Markets
and enabling bankers, analysts, underwriters, and syndicates to drive better
decision-making. We saw an opportunity to significantly enhance these products
with SOLVE’s data offerings and by boosting their ability to provide value to
clients,” Grinberg commented.
In terms of
regulatory compliance, the platform offers tools that help institutions adhere
to rules and regulations effectively. Quotes are leveraged in various ways,
especially for the purposes of “Best Execution,” providing a
point-in-time view of available data when a transaction is made.
As for the
future, SOLVE is working on a few new projects. “There are a number of
products in the pipeline that will add even more innovative analytics and
visualization solutions to help clients interpret market data and generate
P&L opportunities,” Grinberg concluded.