Genesis Global, the low-code application development framework provider, has introduced new AI-driven data services for the bond market within its platform, aiming to streamline how asset managers locate and trade primary bond issues.
“Firms often face complexities in tracking new issues due to the varied channels syndicating banks use for disseminating deal terms and information,” Rahul Kambli, Product Manager for Primary Bond Issuance at Genesis Global, tells TradingTech Insight. “With an average of 40 new bond deals issued per day – each potentially undergoing up to 30 updates through diverse communication media – this solution aims to significantly enhance the efficiency and effectiveness of bond market analysis and decision-making for asset managers.”
The solution aims to address the challenge of consolidating structured data from new issue platforms such as DirectBooks and S&P Global’s Ipreo, together with unstructured data from emails and chats, to form a unified, real-time perspective on new deals.
“The challenge for asset managers starts with data aggregation and data reconciliation. Platforms like Ipreo and DirectBooks are standardised services with structured data, which is relatively easy to handle,” says Kambli. “On the other hand, e-mail and chat tend to be all over the place.”
The newly launched AI-driven services within the Genesis Primary Bond Issuance solution automatically interpret and extract crucial deal information from unstructured communication mediums. This is achieved by employing a private large language model (LLM) to accurately interpret and extract financial data from informal sources like emails and chats. The use of a private model ensures client data confidentiality, allows for specific use-case training, and provides control over performance calibration and cost management, according to the company.
“Integrating data from unstructured sources with structured data from bond deal platforms facilitates a comprehensive market overview,” says Kambli. “It significantly speeds up the evaluation of deals and allocation requests by investment teams.”
Kambli points out that Genesis is not a data source itself. “We’re not in that market,” he says. “We’re a solution provider to the asset manager, and we will work on their behalf to integrate within the parameters of their own data subscriptions.”
The solution is also designed to seamlessly integrate with an asset manager’s existing systems for analytics, reference data, compliance, and order management. It also includes embedded collaboration tools and alerts to aid efficient decision-making processes among portfolio managers, credit analysts, and traders.
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