PBI has integrated 7 Chord’s near real-time, delayed, and end-of-day bond prices for corporate, sovereign and government bonds within its investment management systems, which includes order management system (OMS), portfolio management system (PMS) and enterprise data management (EDM).
BondDroid, 7 Chord’s real-time pricing engine, processes more than 100 million data points per day, including firm and indicative quotes, post-trade levels, as well as a variety of macro and country risk factors, distilling the data into actionable risk-neutral bid, ask and mid prices, yields and option-adjusted spreads.
PBI chief product officer, Sumit Mahajan, said, “In a rapidly evolving landscape where AI is reshaping evaluated pricing, PBI’s solution offers comprehensive functionality to address the complexities of pricing and valuation requirements.”
“PBI is enabling the clients to access complex pricing by integrating with BondDroid Fixed Income Pricing to provide better portfolio management tools to stay ahead,” Mahajan added
PBI clients can now use BondDroid prices to support a variety of workflows across the entire Order/Trade management cycle, including optimising and rebalancing their portfolio, managing transaction costs pre- and post-trade, identifying booking mistakes and outliers, measuring risk, and setting limits.
Leveraging adaptable AI, BondDroid aims to provide market participants access to “highly accurate” levels, with more than 95% very close to the next executed level, even for thinly traded bonds, the firm claims.
BondDroid is also designed to deliver transparency in its systematic pricing, quantitative methods, and inputs, allowing the end user to interpret and act on the information given.
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