7 Chord is the First AI Pricing Vendor to Integrate Glimpse Markets' Bond Transaction Data

BY PR Newswire | CORPORATE | 11/30/21 03:00 AM EST

NEW YORK, Nov. 30, 2021 /PRNewswire/ --?7 Chord, Inc., an independent provider of predictive prices and analytics to fixed income traders, issuers, and investors, today announced that it became the first AI pricing vendor to enter into a strategic data partnership with Glimpse Markets, a newly-formed network of buy-side institutions sharing secondary market transaction data.

This partnership enables BondDroid?, 7 Chord's award-winning AI engine, to consume Glimpse-aggregated execution levels for hard currency-denominated Emerging Markets sovereign bonds and EUR- and GBP-denominated corporate bonds.

In contrast to US market, where FINRA-developed TRACE facilitates the mandatory reporting of over-the-counter transactions in eligible fixed income securities, no such consolidated tape exists in European primary and secondary bond markets. Similarly, the $65 trillion global Sovereign, Supranationals, and Agency market is dogged by inefficiencies due to the lack of a consolidated transaction data source.????

"BondDroid?, just like many real-time AI pricing engines, requires high-quality training data to produce predictive bond prices and systematically evaluate their accuracy. In the US, the availability of TRACE allowed for the predictive pricing and analytics industry to flourish. When used in a similar manner, Glimpse-aggregated transaction data unlocks an opportunity to bring accurate predictive pricing to the European corporate and Sovereign debt markets," said Kristina Fan, CEO of 7 Chord Inc.?

Optimized for the live trading environment, BondDroid??can be installed behind a client's firewall as a customizable software package that extracts highly accurate pricing signals from public, vendor, and proprietary data without it ever leaving a client's corporate environment.

7 Chord also offers BondDroid??Cloud, a managed and hosted version of BondDroid??that uses its computing power and ingests datasets curated by its data science team. BondDroid??Cloud currently prices 53,000+ debt securities and streams minute-by-minute predictive price updates on more than 20,000 global high-grade bonds, high yield bonds, and emerging markets sovereign bonds.

Glimpse plans to officially launch its buy-side data sharing platform in Q1 2022 with at least 12 asset managers who will actively contribute transaction data. Among the platform's founding members are such prominent names as Invesco, Columbia Threadneedle, Carmignac, Quoniam, Cowen, PGGM, Allianz Global Investors, Exo?, NN Investment Partners, and Groupama Asset Management.

"I'm delighted to announce our new partnership with 7 Chord, who will be using the Glimpse data from our launch early next year to power their cutting-edge predictive pricing engine. This is a compelling use case for our unique dataset, and I look forward to working closely with 7 Chord over the coming months as we bring this to market," said Paul O'Brien, CEO of Glimpse Markets.

About Glimpse

Glimpse is a buy-side data pooling platform for institutional bond traders, focused initially on the European investment grade and high yield credit markets. Underpinned by a "Give to Get" model, buy-side clients who contribute their trading data receive all aggregated data from the network for free.

About 7 Chord

7 Chord, Inc. is an independent provider of predictive pricing and analytics. BondDroid?, its award-winning proprietary AI engine, is used by traders, and investors to stream predictive prices and signals for individual bonds. Optimized for the live trading environment, BondDroid??can be installed behind the client's firewall as a customizable software package that extracts highly accurate pricing signals from the public, vendor, and proprietary data without it ever leaving a client's corporate environment. Don't want to manage AI in-house? 7 Chord offers BondDroid??Cloud, a managed and hosted version of BondDroid??that uses its computing power and datasets curated by its data science team.?www.7-chord.com.

7 Chord Inc.
press@7-chord.com

Glimpse Markets
Paul O'Brien
paul.obrien@glimpsemarkets.com

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SOURCE 7 Chord Inc

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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