SOLVE New Issue Monitor is designed to improve visibility into structured credit deals by connecting primary market activity with secondary market quotes. SOLVE, a leading provider of pre-trade data and predictive pricing for fixed income securities markets, announced a preview of the solution at ABS East in Miami, held October 18–21. The platform helps portfolio managers, traders, analysts, and sales and trading desks monitor new issuance alongside existing market activity.
“Our mission is to bring greater transparency to fixed income markets,” said Eugene Grinberg, Co-Founder and CEO of SOLVE. “Creating a wholistic view between how deals come together in primary markets and then connecting that to secondary market activity is an important element of this mission. With New Issue Monitor, SOLVE captures the pricing history, links it to how the bonds trade in both primary and secondary, allowing our clients to track bonds through their entire lifecycle.”
Connecting Primary and Secondary Credit Markets
Primary and secondary markets influence each other, making visibility across both essential for structured credit professionals. However, monitoring new issuance alongside secondary market activity can require access to different sources of information. SOLVE New Issue Monitor addresses this challenge by bringing new issue deals directly into SOLVE Quotes.
This provides market participants with the ability to backtrack deals from the first market announcements, through order book updates, to final pricing. This information can also be viewed in the same solution they already use to monitor secondary market quotes.
This integrated approach allows financial professionals to understand what is coming to market, assess how it will be received by investors and compare new issues with existing securities. It also provides a more connected view of activity across the structured credit market.
Tracking New Issue Deals and Tranche-Level Activity
SOLVE New Issue Monitor organizes each new issue deal and its individual tranches. Users can see the price levels as orders are being placed and track the activity at each stage of the issuance process. Also, the platform offers users the ability to filter new deals by several important features. These include deal size, weighted average life (WAL), credit enhancement and transaction structure.
Column filters are available for users to organize information as they need. Saved views are retained across sessions and tabs, so teams can continue to work in a consistent way. At the same time a summary bar shows notional amounts, deal counts and tranche counts for that view.
These features help structured credit professionals review relevant market information without repeatedly organizing the same data. Consequently, teams can compare opportunities, follow changes in deal activity, and evaluate new issuance more efficiently.
SOLVE New Issue Monitor provides coverage of structured credit deals from their initial announcement while they remain in the market. At launch, the solution also includes 60 days of historical deal information. This history gives users additional context when reviewing current issuance activity and market developments.
Integrating New Issuance With SOLVE Quotes
Because the SOLVE New Issue Monitor is built into the SOLVE Quotes platform, users can view an issuer’s outstanding bonds while looking at a new deal. They can see primary and secondary market information and do not need to log in separately. SOLVE Quotes employs machine learning and natural language processing to analyze market information received by structured credit desks. The platform analyzes quotes, bids wanted in competition (BWICs) and market color shared by participants.
Across fixed income markets, SOLVE Quotes processes more than 30 million quotes daily. This data supports market professionals as they evaluate securities and monitor pricing activity Within structured products, SOLVE Quotes covers more than 150,000 securities. Furthermore, market participants quote more than 20,000 of these securities daily.
By combining new issuance information with secondary market pricing, SOLVE New Issue Monitor extends the information available to structured credit professionals. The integrated solution helps users follow deals from announcement through pricing while maintaining visibility into how related bonds trade in the secondary market.
Promoting More Transparency in Structured Credit
With the launch of the SOLVE New Issue Monitor, SOLVE can show its commitment to improving transparency in the world of fixed income. By bringing together new issues, specific changes at the tranche level, and quotes from secondary market transactions, the platform provides market participants with a better overall idea of what is happening in the world of structured credit.
Moreover, the solution brings relevant deal information into an established market workflow. Users can monitor issuance progress, review pricing developments, and examine existing securities within one environment.
SOLVE showcased the product at ABS East in Miami from October 18–21. The preview introduced market participants to a connected approach to monitoring structured credit issuance and secondary market activity.
Through SOLVE New Issue Monitor, SOLVE aims to help portfolio managers, traders, analysts, and sales teams follow the full lifecycle of structured credit bonds with greater visibility. The solution combines deal tracking, historical information, and market quotes to support informed decisions across the fixed income market.
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News Source: Businesswire.com
