7 Chord Launches Strategic Data Partnership with IHS Markit to Pave the Way for BondDroid Asset Class Coverage Expansion in 2021

Rhea-AI Summary

7 Chord Inc, an independent predictive pricing provider, has announced a strategic data partnership with IHS Markit (NYSE: INFO). This collaboration will enhance 7 Chord's BondDroid AI engine by integrating IHS Markit's reference data for fixed income instruments. Currently, BondDroid Cloud prices 34,000 debt securities and streams updates on over 18,300 bonds. The partnership aims to expand the bond universe covered in 2021, allowing traders to gain a competitive edge in the secondary market with timely pricing signals, especially for newly-issued bonds.

Positive

• Strategic partnership with IHS Markit to enhance BondDroid's capabilities.
• Expansion of BondDroid Cloud's bond universe in 2021.
• Real-time pricing updates for over 18,300 global bonds.

Negative

• None.

BROOKLYN, N.Y., Feb. 8, 2021 /PRNewswire/ -- 7 Chord Inc, an independent provider of predictive pricing and analytics, today announced a strategic data partnership with IHS Markit (NYSE: INFO), a world leader in critical information, analytics, and solutions, enabling BondDroid, 7 Chord's award-winning customizable AI engine, to consume IHS Markit's reference data for fixed income instruments.

This partnership paves the way for a significant expansion of the bond universe covered by BondDroid Cloud, the firm's real-time pricing service, in 2021. BondDroid Cloud currently prices 34,000 debt securities and streams minute-by-minute predictive price updates on more than 18,300 global high grade, high yield, and emerging markets sovereign bonds.

"BondDroid's flexible architecture puts 7 Chord in a unique position to partner with a variety of firms that enjoy an informational advantage, including trading venues, asset managers, dealers and information providers, such as IHS Markit," said Kristina Fan, Founder, and CEO of 7 Chord Inc.

Optimized for the live trading environment, BondDroid can be installed behind the client's firewall as a customizable software package that extracts highly accurate pricing signals from public, vendor, and proprietary data without it ever leaving a client's corporate environment. 7 Chord also offers BondDroid Cloud, a managed and hosted version of BondDroid that uses its own computing power and datasets curated by its data science team.

IHS Markit's timely reference data for newly-issued bonds enables BondDroid Cloud to generate pricing signals before a bond starts trading in the secondary market for approximately 93% of the bond issues within its universe criteria.

"By combining our market-leading fixed income reference data with BondDroid's predictive pricing intelligence, we are enabling bond traders to gain a competitive advantage in the secondary market based on real-time signals identified across a range of corporate and sovereign bonds," said Andrew Rogers, Head of Alliance Partner Strategy for Pricing, Valuations and Reference Data at IHS Markit.

7 Chord also leverages IHS Markit's US Treasury bond reference data for its proprietary T-benchmark selection algorithm that closely tracks the industry consensus and considers the instruments' embedded optionality features.

About 7 Chord (www.7-chord.com)
7 Chord, Inc. is an independent provider of predictive pricing and analytics in Brooklyn, NY.  BondDroid^®, its award-winning proprietary AI engine, empowers bond traders and investors with real-time predictive pricing and signals, as well as highly accurate evaluated pricing. Optimized for the live trading environment, BondDroid Auto-Pricer can be installed as a customizable software package that extracts signals from a public, vendor, and client's proprietary data without it ever leaving their corporate environment. Don't want to manage AI in-house? 7 Chord offers a cloud solution that streams prices and signals while leveraging 7 Chord's computing power and curated data sources.

About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics, and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics, and solutions to customers in business, finance, and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world's leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

Press Contacts

7 Chord Inc
Kristina Fan | press@7-chord.com | +1 917-930-1974

IHS Markit       
Timothy Barello | timothy.barello@ihsmarkit.com | +1 646 679 3463

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SOURCE 7 Chord Inc

FAQ

What is the significance of the partnership between 7 Chord and IHS Markit for INFO stock?

The partnership enhances BondDroid's capabilities by integrating IHS Markit's reference data, potentially leading to increased demand and usage of 7 Chord's services.

How will the BondDroid AI engine benefit from IHS Markit's data?

BondDroid can generate pricing signals for a majority of bond issues before they start trading, enabling traders to act on real-time data.

What products does 7 Chord offer in relation to its partnership with INFO?

7 Chord offers BondDroid, a customizable AI software for live trading environments, and BondDroid Cloud, a managed version of the AI engine.

How many debt securities does BondDroid currently price?

BondDroid currently prices 34,000 debt securities.

What competitive advantage does BondDroid provide for bond traders?

BondDroid provides real-time pricing signals and predictive analytics, enabling traders to make informed decisions in the secondary market.