AI And The Municipal Bond Market: Solving The Pricing Problem

SOLVE isn’t exactly a startup (it was founded in 2011), but it sure acts as innovative as one. Through both organic growth and acquisition, the firm positioned itself as a leading market data platform provider for fixed-income securities. Already robust with datasets of real-time bids, offers, covers, and other market information on a variety of fixed income instruments, from corporate bonds to syndicated bank loans, its acquisition of Lumesis in 2022 expanded its reach into the municipal bond market. The beta launch of SOLVE Px™ offers AI-generated predictive trade levels on over 900,000 municipal bonds. As SOLVE Co-Founder Eugene Grinberg put it, the platform seeks to see what the next trade level will be with a goal of minimizing prediction error. From his perspective, besides more realistic and real-time market price information, AI also offers the benefit of objectivity, providing an unbiased projection of the next trade price.

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