Tradeweb has expanded its automated bond price engine, Ai-Price, as part of an effort to expand price discovery, execution quality and liquidity access in US corporate bond markets.
Troy Dixon
Specifically, the suite of advancements include: expanded data inputs, upgraded machine learning models, and more real-time, intraday-responsive pricing.
Through this build out, Tradeweb has also confirmed that Ai-Price aims to reduce the need for manual intervention in those markets, which in turn is expected to provide clients with greater confidence to route large orders through Tradeweb AiEX, as well as focus more closely on complex high touch trades.
Troy Dixon, co-head of global markets at Tradeweb, commented: “Corporate bond trading is undergoing a fundamental shift toward more electronic and automated execution, and that shift is redefining what market participants demand from pricing.
“As that happens, market participants are increasingly relying on pricing that is more dynamic and responsive to evolving market conditions. The quality, speed and accuracy of that data now directly shape how effectively participants can assess liquidity and act on execution decisions.”
Read more – Tradeweb rolls out AI-powered research assistant to support institutional credit trading
The Ai-Price tool aims to boost pricing accuracy for US investment grade and high yield corporate bonds, and integrated public TRACE feed data with Tradeweb’s proprietary datasets, leveraged advanced machine learning and analytics.
The offering also supports clients in accessing responsive bid and offer estimates that better reflect real-time market conditions.
Dixon further added: “The enhancements to Tradeweb Ai-Price are the next steps in how we’re applying machine learning to pricing, drawing on Tradeweb’s deep data assets, technology infrastructure and long-standing leadership in electronic credit trading.”
Tradeweb has also confirmed that it is currently exploring expanding Ai-Price’s scope across additional fixed income products, such as emerging market bonds.