Credit Suisse Asset Management invests in fixed income price transparency firm

Solve Advisors’ platform uses machine learning and NLP to aggregate data in fixed income markets for price discovery.

Credit Suisse Asset Management has made an investment in a New York-based data aggregation specialist that aims to improve transparency on pre-trade pricing in fixed income markets.

Solve Advisors received investment from Credit Suisse Asset Management’s NEXT investors, who target minority growth opportunities in private technology and financial services companies globally. Credit Suisse Asset Management NEXT investors will appoint two members to the company’s board of directors. The level of investment made in Solve Advisors was not disclosed.

Founded in 2011, Solve Advisors’ platform addresses data fragmentation and the lack of transparency in bond trading, through large data sets of real-time bids and offers in securitised products, corporate bonds, syndicated bank loads, credit default swaps and municipal bonds.

“As fixed income markets become more electronic over time, Solve Advisors offers a trailblazing solution to help bring greater price transparency to the market, benefiting market participants. We are pleased to bring our deep market structure expertise to help support the company as it continues to grow,” said Greg Grimaldi, co-head and portfolio manager of Credit Suisse Asset Management’s NEXT investors.

Solve Advisors’ flagship platform,SolveQuotes, uses machine learning and natural language processing technologies to aggregate and visualise data points from clients’ unstructured messages. Solve Advisors said that the resulting data provides buy-side, sell-side and accounting firms with price discovery and new trade ideas.

“SolveQuotes data aggregation provides a tangible competitive advantage to our clients who are able to monetise transparency in addition to improving operational efficiency,” added Eugene Grinberg, co-founder and chief executive at Solve Advisors.

“Recent demand for price transparency has been bolstered by proliferation of algorithmic trading, fixed income ETFs, best execution and TCA initiatives. We are excited to partner with Credit Suisse Asset Management’s NEXT Investors team to continue innovating our products and driving the growth of our team and client base.”