Fixed Income EMS AxeTrading Integrates Overbond Pricing Analytic Platform

Axe Trading - OverbondAxeTrading, the fixed income trading software provider, has announced the integration of the Overbond COBI pricing analytic platform with the AxeTrader EMS for the buy-side, sell-side, and agency brokers.

Overbond offers AI predictive analytics for the fixed income capital markets. Its COBI pricing platform is an advanced AI bond pricing solution for electronic bond trading. It utilizes deep data aggregation and AI modeling trained on 5 years live market data and 20 years of back-data history. It can be activated for any AxeTrader user with a simple configuration, which users can do themselves, their IT team can set up, or AxeTrading can send to them. This enables any AxeTrader user, that also has access to OverBond’s COBI analytics, to get direct access to insight specific to selected security with a single click from their AxeTrader workflow.

Vuk Magdelinic, Chief Executive Officer of Overbond, said: “Overbond COBI Pricing can enhance users’ bond trading workflow by providing precise executable prices in up to 30% more situations when there is no directly observable trading price in the market. Trading desk revenue can be grown significantly through their access to this insight. We are excited to integrate with AxeTrader and look to extend the COBI model to an expanded community of trading clients.”

Mark Watters, CCO and co-founder of AxeTrading, commented: “Working with Overbond and other leading data providers, we at AxeTrading embrace the principles of interoperability to give Traders seamless control of their workflow. Some other platforms look to constrain and create a walled garden forcing users to be dependent on a limited range of options. We free them to make best use of their existing systems, diverse trading venues and the latest augmented data”.

AxeTrader provides fixed income traders with market aggregation and trading workflows in a single desktop enabling more efficient and transparent trading using adaptive, open and flexible technology. The platform interacts seamlessly across over 45 execution venues and connects to 11 leading market data sources, including Overbond.

Overbond was founded in 2015 by Vuk Magdelinic and Han Ryoo, two fixed-income experts in Toronto, Canada. The firm raised $7.5 million in seed financing from Morrison Financial in 2016. This was one of the largest seed financing rounds in Canadian history. The firm then launched a digital bond issuing service in January 2017, called OverbondX. Later that year, Overbond opened an office in New York as it expanded its business in the United States.