Announcements,Fixed Income Forum

Where is SOLVE Px (Beta) in its Evolution?

 

Transcript:

Where is SOLVE Px (Beta) in its evolution?

So we are currently at the beta stage. As I mentioned, we released the initial beta back in December, and our plan is to move to production over the next couple of months.

From an evolutionary perspective, we currently, for beta purposes, are producing a SOLVE price once a day. The plan is to move to intraday and then as close to real time as possible as we get from beta to production.

We currently also are using institutional size trade of $1 million. That, too, is going to evolve as we move from beta to production, where we’ll have both an institutional size as well as retail size. And users will be able to focus on, from a market perspective, what’s most relevant for them.

And then from a coverage perspective, there are about 900,000 bonds we’re covering. For almost all of the fixed rate bonds, we’re not covering data forage right now. What we don’t cover within that group are highly distressed as well as missing reference data. Absence of reference data will allow us to have our models function properly and use those. So again, the intent is to move from where we are and to continue to expand as we move from beta to production.

The other aspect that I’ll just mention is we are quite lucky in the sense that a number of our clients as well as prospective clients have engaged with us in this beta release and their feedback is really critical in helping us to refine the models. So while we have a great process and approach to addressing and refining the models ourselves, having market participants engage with us and give us their direct feedback has been hugely beneficial so that we can refine not only the models but the output growth.

Disclaimer: 

SOLVE offerings are not intended to constitute investment advice, do not seek to value any security, and do not purport to meet the objectives or needs of specific individuals or accounts.  

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