Fixed income-focussed FinTech BondWave has completed its acquisition of Bitvore’s data analytics business, which uses artificial intelligence (AI) to scour unstructured data sources for bond market clients.
The technology will be incorporated into BondWave’s Effi fixed income data and analytics platform to “provide users with enhanced transparency and further support our mission and vision as a firm”, said chief executive Michael Ruvo.
With the acquisition, BondWave –which was formed in 2001 – will enable clients to extract data from publicly available sources and crunch it into a useable format for analysis. The company’s other capabilities include portfolio analytics and reporting and proposal generation, as well as tools that support best execution, fair pricing, and mark-up monitoring and disclosure on both a pre- and post-trade basis.
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