In a dragon’s den style panel, four fintechs at this week’s Fixed Income Leaders Summit (FILS) were each given a five-minute pitch to demonstrate how they hope to solve users’ biggest pain points in the fixed income space.
BondAuction: Does what it says on the tin
Boasting more than 70 years’ combined experience in both bond markets and transformational technology solutions, BondAuction looks to use technology to create a transparent, efficient and secure platform for issuers, investors and underwriters.
“Our founding team and advisors have more than 200 years’ experience across thousands of deals priced in the debt capital markets,” said Peter Charles, co-founder of BondAuction.
“We also have over 50 years’ experience transforming and delivering IT platforms to the largest organisations across all major geographies. Using current development techniques and feedback from across the market, we have developed an open, extensible and transparent platform that delivers significant benefits to investors, issuers and underwriters alike. We are signing up market participants and targeting the first auctions early in 2023.”
Liquidity Lock Global Markets: AI-based trading to reduce information leakage
This fintech provides a sessions-based portfolio trading solution for both market makers and institutional investors. Employing articifical intelligence, Liquidity Lock accelerates thousands of calls and bilateral negotiations, providing fills to participants in minutes while maintaining complete confidentiality.
“What we are proposing is an AI solution to do what humans can’t,” said Liquidity Lock’s Lucio Biase. “With our solution you can instruct the system as you would a colleague. There are no mistakes made and there is no information leakage – everything is truly confidential. The system runs through thousands of calls in seconds.”
Synch: Streamlining market data
Established by capital markets and technology professionals, Synch seeks to create greater transparency and understanding around fixed income data that is both time and cost efficient.
“In fixed income, we still need human touch and it is for that reason that we have developed a solution that empowers you and your teams to see more of the market, to be more effective in your workflows and to be quicker through the data – thus, enabling everybody to be able to do more comprehensive data analysis. Most importantly, we have done this at a very competitive price point,” said Adil Kurt-Eli and Andrew Dell, co-founders of Synch.
Kynec: Creating the golden source for margin management
Founded by XVA traders to combat the collateral liquidity, funding and optimisation problems they experience in the day-to-day work, Kynec’s mission is to help users manage margin through actionable insights, bringing together a network of firms and make clearing more accessible for all through a single connection to CCP and bilateral collateral pools. The firm uses digital technologies to orchestrate data from multiple sources to create a single, secure ‘golden source’ of timely and accurate collateral information for analysis and communication to internal and external stakeholders.
“We felt the pain of not having the data we needed to do our daily jobs over many years with large international banks. That was the foundation for creating this company,” said Robert McWilliam, CEO and co-founder of Kynec.
“Essentially, what Kynec intends to do is solve the connectivity problem that just about every bank we have spoken to faces today.”
And the winner is…
After strong pitches from each of the four fintechs, the winner of the FILS 2022 Dragon’s Den was BondAution, which received 40% of the audience vote.