Access to Thomson Reuters fixed income market data and market analytics within the Overbond platform optimizes price discovery for participants in the primary bond origination market
TORONTO, ON and NEW YORK, NY — (Marketwired – November 03, 2016) — Overbond Ltd., the first fintech platform in the new bond issuance market, today announced a partnership with Thomson Reuters that will see fixed income market data and analytics integrated within the Overbond platform. Through Thomson Reuters Labs, the companies will also be exploring opportunities to drive further innovation in the fixed income capital markets through collaborative research and development.
Overbond is the first fully-integrated platform to directly connect corporate and government bond market issuers with dealers and fixed-income investors. The proprietary platform features end-to-end processing capability and a support framework for primary bond origination transforming primary bond issuance into a fully-digital, transparent, and secure process from pre-deal research straight through to deal execution.
Overbond’s cloud-based platform modernizes all aspects of bond origination by providing secure communications, price discovery, and custom reporting and analytics, while reducing operational risk and transaction costs for issuers, dealers, and investors. With secondary market liquidity significantly reduced, it is challenging to benchmark and price discover new bond offerings. The integration of the Thomson Reuters data product suite is designed to improve the flow of information and increase transparency by providing Overbond users with access to essential data and analytics required for effective price discovery in the primary bond origination market.
“Access to Thomson Reuters’ data universe and market analytics within the Overbond platform optimizes price discovery for participants in the primary bond origination market,” said Vuk Magdelinic, CEO of Overbond. “Through our partnership with Thomson Reuters, the Overbond platform now provides market participants with unparalleled price discovery capabilities to help them navigate what is currently a very challenging fixed income market.”
“This integrated offering from Overbond is a step forward in addressing current secondary market liquidity challenges and enabling digital bond origination,” said Jamie Grant, Global Head of Rates & Credit at Thomson Reuters. “Thomson Reuters’ open platform strategy enables us to support innovation across financial markets. We look forward to working with the team at Overbond to develop innovative new solutions that solve some of the most complex challenges faced by the participants in the primary bond market, such as transparency and efficient allocation of capital.”
Future product collaborations between Overbond and Thomson Reuters will be facilitated through Thomson Reuters Labs – Waterloo Region.
Founded in 2015, Overbond is rapidly transforming how global investment banks, institutional investors, corporations and governments connect and access the primary fixed income market. Overbond’s fully-digital platform for primary bond issuance eliminates inefficiencies, provides higher transparency, optimal price discovery, and investor diversification for all counterparties in the primary bond market.
Overbond recently closed a $7.5 million seed financing round with Morrison Financial Services. The company’s growing client base includes investment-grade corporate issuers that are looking to better manage their large borrowing programs, some of which include $20 billion in outstanding bonds.
Overbond is headquartered in Toronto with operations in New York. The company emerged from the MaRS fintech cluster and the Communitech technology innovation super-cluster — two globally renowned centres of technology and innovation. Overbond’s momentum is rooted in the collective strength and experience of its team in the disciplines of fintech software development, capital markets, and technology and legal compliance gained via Wall Street, Bay Street, and Silicon Valley. For more information, please visit https://www.overbond.com