Overbond integrates CDS FIPS bond data from TMX for accurate OTC volume of CAD trading

Rick Steves

“Adding settlement layer data to Overbond AI models is the next frontier in data aggregation necessary for discovering best-executable pricing and liquidity in the Canadian corporate bond market”

Overbond has partnered with TMX Group to integrate CDS FIPS settlement-layer Canadian bond data into its AI fixed income trading tools and analytics.

The provider of trade automation solutions aims to address the data challenges facing Canadian asset managers when they are pricing Canadian bond portfolios, structuring and rebalancing new portfolios, and seeking to construct and use pricing and liquidity time series.

Both Overbond and CDS FIPS users will be given access to a deep coverage of Canadian fixed income trade data that enhances pre-trade and post-trade analytics and best execution pricing and liquidity discovery for Canadian bonds.

CDS FIPS data helps measuring OTC volume of CAD trading

CDS FIPS combines executed trade settlement data with custody activity data from both electronic and voice trades (OTC trades) to provide the only available complete daily volume information on Canadian fixed income trades reported to CDS Clearing and Depository Services Inc. The service covers more than 40,000 Canadian corporate and government bonds.

Integrating OTC trade volumes into Overbond AI models enhances the precision of bond liquidity scoring and best executable pricing. CDS FIPS enriched data enables more accurate measurement of the traded volume of Canadian dollar denominated OTC trades.

The CDS FIPS data enhancement is only the start of the added value that will come from the Overbond-TMX partnership because Overbond technology is scalable and adaptable to other asset classes.

Vuk Magdelinic, Chief Executive Officer of Overbond, said: “Adding settlement layer data to Overbond AI models is the next frontier in data aggregation necessary for discovering best-executable pricing and liquidity in the Canadian corporate bond market.”

Michelle Tran, President of TMX Datalinx, commented: “We expect that TMX and Overbond will enable additional AI-driven data and analytics tools for use by asset managers, buy-side and sell-side traders, analysts, compliance departments and back offices across multiple asset classes.”

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