08.16.2019

Credit Suisse Invests In Fixed Income Data Provider

08.16.2019

Solve Advisors, a leading provider of pre-trade price transparency in fixed income markets, announced an investment from Credit Suisse Asset Management’s NEXT Investors. The investment will be primarily used to drive Solve Advisors’ business growth, expand the company’s sales and marketing presence, and further product development.

Founded in 2011 in New York, Solve Advisors’ mission is to address data fragmentation and lack of transparency in the bond markets. Solve, which is headed by Co-Founders, Eugene Grinberg and Gerard Nealon, has developed the largest dataset of real-time bids, offers and market color across Securitized Products, Corporate Bonds, Syndicated Bank Loans, Credit Default Swaps and Municipal Bonds. The company’s flagship product, SolveQuotes, utilizes proprietary Natural Language Processing and Machine Learning technology to aggregate and visualize millions of daily data points by parsing clients’ unstructured messages. The resulting data is used by its buy-side, sell-side, accounting and valuation firm clients for price discovery, trade idea generation and to streamline analysis.

Eugene Grinberg, Solve Advisors Co-Founder and CEO, said, “SolveQuotes data aggregation provides a tangible competitive advantage to our clients who are able to monetize transparency in addition to improving operational efficiency. Recent demand for price transparency has been bolstered by proliferation of algorithmic trading, Fixed Income ETFs, Best Execution and TCA initiatives. We are excited to partner with Credit Suisse Asset Management’s NEXT Investors team to continue innovating our products and driving the growth of our team and client base.”

Greg Grimaldi, Co-Head and Portfolio Manager of NEXT Investors at Credit Suisse Asset Management, added, “As fixed income markets become more electronic over time, Solve Advisors offers a trailblazing solution to help bring greater price transparency to the market, benefiting market participants. We are pleased to bring our deep market structure expertise to help support the company as it continues to grow.”

As part of the investment, Credit Suisse Asset Management’s NEXT Investors will appoint two members to Solve Advisors’ Board of Directors.

Credit Suisse Asset Management’s NEXT Investors identifies minority growth equity investment opportunities in private technology and services companies globally where the team has domain expertise and actionable edge. The team’s portfolio comprises high-growth private businesses that interact with the financial services industry across sectors including Market Structure, Financial Technology, Enterprise Software, Data Analytics and Specialty Finance.

Source: Solve Advisors

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