MarketAxess Automates Corporate Bond Pricing
H2O.ai, the open source leader in artificial intelligence (AI) and machine learning (ML), today announced that its open source platform, H2O, provides critical machine learning capabilities to MarketAxess, the operator of a leading electronic trading platform for fixed-income securities and the provider of market data and post-trade services for the global fixed-income markets.
MarketAxess’ Composite+, powered by H2O open source, delivers greater insight and price discovery in real-time, globally, for over 24,000 corporate bonds. Composite+ has won several awards for its use of AI including the Risk Markets Technology Award for Electronic Trading Support Product of the Year and the Waters Technology American Financial Technology Award for Best Artificial Intelligence Technology Initiative.
“H2O is an integral part of Composite+ and provides some of the fundamental machine learning tools and support that make our algorithms run as well as they do,” said David Krein, Global Head of Research at MarketAxess. “The Composite+ pricing engine is helping fulfill our clients’ critical liquidity needs with more accurate and timely pricing data, which we make available within the MarketAxess electronic trading workflow. H2O.ai has been a great partner which has contributed to our recent success.”
“Congratulations to David and the research team at MarketAxess for creating the industry leading algorithmic pricing engine with H2O AI. With H2O’s machine learning algorithms in Composite+, MarketAxess has fully automated corporate bond pricing with better predictions and features,” said Sri Ambati, CEO and founder at H2O.ai. “Fixed-income markets are ripe for AI transformation and MarketAxess is leading the change bringing speed and transparency to the marketplace. We are thrilled to be a partner in their amazing success and look forward to accelerating the age of AI in Capital markets with faster, cheaper and open platforms.”
SambaNova Systems allows software not to be confined by the constraints of fixed hardware.
Tradeteq makes trade finance accessible for institutional investors.
Financial services are in the earliest days of the AI era.
Two thirds of traders in the SIX survey said there is growing interest in digital assets from clients.
The coding marathon will focus on machine learning and artificial intelligence.