Quantifi, a provider of risk, analytics and trading solutions, today announced that 7Chord has integrated its market leading model library for pricing and analytics of cash and derivative credit instruments. 7Chord is a financial technology and proprietary trading firm which uses the latest advances in machine learning to automate “routinizable” aspects of pricing and execution in the corporate bond market. Their business is a prime example of how the proliferation of the electronic market venues over the past several years has encouraged the new digital generation of liquidity providers to enter the markets.
Modern technology is transforming the way secondary credit markets trade. However, the electronic credit market is still in its naissance. It is not surprising that as an asset class it is under-served. The rich eco-system of tools geared towards automated trading is optimized for markets like equities and futures. With its long history of serving the needs of fixed income trading desks and edge in technology innovation, Quantifi is uniquely positioned to fill the gap.
“At 7Chord it is important for us to monitor and respond to market conditions using accurate, real-time low latency pricing analytics. We therefore needed an analytics provider that offered a stable technology platform with tried-and-tested functionality,” comments Kristina Fan, Co-Founder, 7Chord. “We chose Quantifi because of its extensive coverage of credit and fixed income instruments which we can leverage to support future trading strategies. Equally important was Quantifi’s commitment to implementing on time and budget. This alleviated any concerns we had associated with a new software integration and allowed us to concentrate on the core elements of our proprietary engine. From a regulatory due-diligence perspective we are now able to demonstrate a robust and future-proof technology infrastructure,” continues Kristina.
Quantifi delivers cross-asset trading, front-to-back operations, position management, market, credit, counterparty and liquidity risk management, margining, and regulatory reporting all on a single integrated platform. As well as supporting the key regulatory and industry practices, Quantifi applies the latest technology innovations to provide new levels of usability, flexibility, and ease of integration. This translates into a dramatically lower time to market, and significant improvements in operational efficiency.
“We are delighted to partner with innovative firms like 7Chord, who count some of the most sophisticated companies among their data and infrastructure providers,” comments Pradiv Mahesh, Sales Director, Americas, Quantifi. “Electronic trading has become a key component of the fixed income landscape and as technology becomes more complex and specialised, firms are moving away from building their technology stack from scratch. 7 Chord’s approach represents a trend towards vertical integration with specialist technology partners like Quantifi,” continues Pradiv.
Quantifi is a leading provider of next generation risk, analytics and trading solutions. Our award-winning suite of integrated pre and post-trade solutions allow market participants to better value, trade and risk manage their exposures and respond more effectively to changing market conditions.
Founded in 2002, Quantifi is trusted by the world’s most sophisticated financial institutions including five of the six largest global banks, two of the three largest asset managers, leading hedge funds, insurance companies, pension funds and other financial institutions across 40 countries.
For further information, please visit www.quantifisolutions.com
7Chord is a financial technology and proprietary trading firm which uses the latest advances in machine learning to automate “routinizable” aspects of pricing and execution in the corporate bond market. 7Chord intends to seek a regulatory approval to trade as principal and act as a liquidity provider on multiple electronic trading platforms. The firm was founded in December 2015 and is located in the heart of NYC’s financial district.
For further information, please visit www.7-chord.com or follow on Twitter @7chorddb